The daily morning journal and courier., 1907-08-21
TIE FEATURES IF
 THE STOCK MARKET Ills Take Courage Over Pres
 ident's Speech. ED BEEN QUITE WEAK |eady Advance-Industrials and Fractions Attacked in Last Two Hours.

! he stock market was weak and |kering until the news was out as 5 the tenor of the presidents speech arding corporations Then it woke and rallied.
 appeared, in spite of the repetition antitrust talk, that some of the zagraphs were of a fairly reassuring racter, indicating that the admin sation had no desire to do anything oh would cause the public or in- ent stockholders to suffer, Wall Jet, after some hesitancy, chose to ! the optimistic view.
 et every well-informed wall street knew two days ago what was in zded to be in the speech, so far as it 1t with the railway prosecutions. oward noon it was definitely assert that there would be inserted a re- #lring paragraph Later, the pas b regarding the ma}ign influence on Stock exchange market of persons Sb would be injured by government secution was received by Wall Net with mingled emotions. How the eleventh-hour amendment President Roosevelt's speech was SDful to prices of securities it was &cult to see. The president certain $conveyed in very plain English a #sage of unmistakable policy of # ting erring corporations and erring &boration managers to the bitter end. &inally Wall street settled down to view that the fight now on was ween the administration and "a few lineering men," supposedly MT. rriman, MT. Rogers, Mr. Rockefel- ct cetera.
 he speech of Secretary Taft was & liked in London. Consequently les there for American securities e from 1-2 to 1 1-2 points lower e they started irregular, but soon
 off as the fractions broke down $ lew low levels and some of the in trials which the banks are throw < out of loans were sacrificed.
 he dismally low prices of Inter-Met e far from consoling to the com y's friends.
 i Is Roosevelt's antitrust policy is hanged Wall Street feels that the lg for the individual investor to do
 is to determine just how far this cts the property in which he has capital.
 he foreign situation continued to ex-
 great interest here, and bankers re- ded Europe as most likely to be the tre of the next important develop lts in the monetary world. There
 much discussion as to the possible ance in bank discount rates abroad he position of the short interest is
 plicated by the attitude of houses
 have until recently been large
 CTS of stocks. They have loaned out
 r securities rather than go into the ley market as borrowers. But now D confidence upset and the situation
 strained they are disinclined to lei
 of their securities, not knowing { t may turn up This causes some
 he flat loaning rates prevailing.
 uring the past two days "odd-lot'
 3hases of stocks, for interests no
 nected with Wall Street, have cbn
 ged principally on industrial shares
 el common has been largely takel
 mall amounts. It was reported yes
 Iay that no less than 10000 share
 Amalgamated Copper were taken u % n odd lots.
 he close showed a greater degree o
 idence than has been manifested 1,
 Ing time past. It was agreed on al
 s that the worst being known in tn
 corporation programme, and n
 h liquidation having appeared, i
 safe to assume that the corner ha
 turned.