Daily press. [volume] (Newport News, Va.) 1896-current, 1907-05-28
PRICES IN MARKET
JUST MELTED AWAY
There Was No Excitement and No
Demand for Securities, But
1hsPe Was a Slump.
BAD NEWS FROM THE WHEAT BELT
Cold Weather and Snow storms in
the Grain Country Cause Great
Observation-Disclosures from ABROAD
Were unfavorable to List-Total
Sales and Closing Quotations.
tBy Assoclatcd prcsa.l


nation of urgent liquidation and an
almost utter prostration OF demand
Tor securities accounted for the melt
Ing away of prices in the stock mark
let today. striking feature OF the
days movement was the lack of en-
element In the trading and the alb
scncc of feyerishncss in the fluctlla-
lions. The extent of the declines gave
rise to uncasincss and apprehension
lha. damage would result, but the
mood of the speculation was rather
one OF quiet looking on to observe
lnan OF any marked perturbation man.
ifested in usual ways. The liqulda-
| ton came from time to time IN re-
curing waves, and blocks of stocks
III indefinite amounts We're fed into
the market ut steadily declining
prices until selling orders were
cleared up for time when feeble raj
lies would ensue on short covering
| by the room bears, who took quick
| profit at intervals. There was no
sign of ANY attempt to support prices.
and the market was left apparently to
drift on the tide of commerce and to
find level at which new forces would
develop TO set in motion some alb.
sorptive power.
The recurrence of colder weather
IN the wheat belt awakened renewed
nncasincss over the final outcome OF
| INC years crops. Reports of railroad
| traffic officials reported some OK.
tension of the same spirit to the
general business situation, with n re.
sultinG lighter freight movement. III
| ilncnCcs from abroad were untayor-
able. failure of some Importance
was reported in the London stock
| market and Il drop in copper In Lon
| don was lmrtfnl. Discounts rose In
london but sterling exchange fell at
Paris and held steady here. The re.
suit was the inauguration of gold
exports from New York by an en-.
gagement of $S00,0O0 for shipment
tomorrow. with more in prospect Tor
| Thursdays steamers. The local mon
ley market was unaffected by this
development, short time rates reced-
| ing, but loans for the longer periods
being III keen demand. Smelling and
| Copper stocks, tho Pacifics, Heading,
SOME OF tho Southern group and simi
lar specuaMyie favorites are down
from three to over five points on the
day Much wider declines were
shown by some of the dormant
stocks.
Tho closing tone was irregular ana
uncertain, although notably lower
bonds were weak. Total sales par
vai'le Sl53G,0OO. U. S. 2's coupons
advanced n and the registered 81 ncrl
cent. on call. Total sales today
| l,l5,S0O shares, including Conner
Coppcr 1880; Smelling $4,000; Sugar
! l,3OO; Tobacco 700; Coast Line 210O.
Canadian Pacific $500; G. 6 81
$500; st. Paul 21,6e0; j.. &c N. 3.l0U.
n & w. LOO; Pennsylvania 41,GO0;
Reading 2d9,600 Southern Pacific
2l,20O; Southern Railway 6.SUO:
Southern Railway pfd 800; Union
! tactic 1iS,2O0; U. S. Steel S3,SOU;
| v. q. e. 100; V. G. G. pfd 90.
| Adams Express 2SD
amalgamaied Copper S5M
american Car & Foundry NV
American Car & Foundry pfd gSN
American Cotton Oil 2Sih
american Cotton Oil pfd ... SIS
American Express .. 80
American Hide & Leather pfd IL
| American Ice 6o
American Linsced Oil .. 9X
american I.inseed Oil pfd ...... "a
american Locomotive 55lh
american Locomotive pfd 49,. 1902
american Smelling & Refng. .112M
american Smelling pfd ..... 1O4
american Sugar Refining .. 21iS
american Tobacco, pfd certlt. yUI
anaconda Mining Co.. 57iS
t ..,', .::................. S6ss
| htchlson pfd .......... ~
Atlantic Coast Line g3Ih
baltimore e Ohio DYbE
Baltimore & Ohio pfd 81
liroolSlyn Rapid Transit AMI
Canadian Pacific 166M
| Central OF New Jersey .1T0
| chesapeake & Ohio %
chicago Great Western ... yH
chicago IL Northwestern ....l4G
! GhicaSo, Mil. & st. Paul .......124
Chlcago Terminal e Trans ..
Chicago Terminal e. Trans pfd. is
| G., c., G. e St Io,ii., 10
Colorado Fuel &c Iron 2SIh
Colorado e. Southern 2O%
| Colorado & Southern 1st pfd.. SIS
Colorado Il Southern 2ld pfd.. AK
Consolidated Gas ...... .1l2iS
S I'm Iroancts .:............... 1b&
urn PRODUCTS pfd -............ "
delaware & Hudson 1855
delaware. Lackawana & West. 1850
Denver &c Rio Grande ....... 23
Denver e Rio Grande pfd $500. 6S
Distiilers' Securities .... 6lX
i rIie ....-..........,. 20$s
Erie ISL pid .........;....... 5SM
Eric End pfd 34i5
, nehetal electric 1869 |
Illinois Central l3yH
International Paper
international Paper pfd ....... 10
~, t,,. PUMP .:........ 271h
International Pump pfd 1890. rs
Iowa Central .;:....,.......,..1OS
iowa Gentrai pa .............. SSh /,
isi'i, ely southern $500. 23%
Hansus oity southern pfd .,... 5SH |!
l'ouisSi'ie d Nashville .........19 J