The daily morning journal and courier., 1907-09-27
LATE FEATURES OF
 TIE STOCK MARKET Real Liquidation Breaks Out
 Afresh. NEW HAVEN STOCK LOWER Drop Laid to Roosevelt's Com ing speeches-Activity on Decline.

The stock market had another attack of weakness yesterday. due to bear op- Ierations and as it was said to fear what effect the coming speeches of Roosevelt would have on stocks.
 The weakness was also in part att |tributed to frosts in the corn belt, but |the corn market didn't act as if there was any real alarm. The rise on We'd tuesday of one cent per bushel seemed Ito have discounted the damage. In the wheat market higher prices lwere made yesterday, but this was gfairly due to the increased export de- 1mand for the grain, which means big money for America
 As to the actual course of prices yes- Iterday they were put down because |they would not go up; another day, in sthe same absence of fresh develop ssnents, they are quite as likely to be but up because they will not go down zThis theory leaves open, it win be ob- IBerved, anything new in the copper ztrade situation or the currency move 1Erent
 \ Support was not 50 readily given to Rstocks as of late, and tired holders of j the rise let go of some of their hold zlngs.
 I The slight indisposition of P. H. Har- &riman was used as an excuse for Breaking Union Pacific below 129 But Btocks like Northern Pacific, St. Paul zand Reading were equally weak.
 One or two other weak spots were re- &tealed, as Allis Chalmers whose 5 per lent. bonds are selling around 50, and New Haven, whose prospective new Etock issue at such low price is ac- #epted as confession that capital can lot be raised except at large dis ount.
 New Haven Railroad stock, which de- lined 14 9-4 points on Wednesday, with ales as low as 142, sold still lower yes- erday, on small transactions, reflect hg liquidation by shareholders, inelud- hg the selling of stocks against the ights which were down to IA yes erday. Tn Boston the lowest for New Taven stock was 139. The closing in lew York was 14O 1-2. Only 570 shares fere sold in Wall Street yesterday, a hall amount compared with sales of # ctive stocks, but yet large for New [aven stock which is so firmly held. For the month of July the Erie rail- bad announces gross earnings of S4,- 7S9S.56, an increase of $576,S13.7S perating expenses were $9,4 4,84142,an lcrease of $359, ,445.66, leaving net earn sgs of s1,512, ,9S714, an increase of O7, ,S6S.12.
 Various disquieting rumors were cur ent in regard to the industrial stocks hich were under most pressure. In le case of Consolidated Gas it was re, prted that the company will be han led without gloves by the Public Util- les commission.
 Brooklyn Union Gas declined very parply, establishing & new low record
 99 7-S This was due to the same ason that depressed Consolidated Gas. Report came that the railroads in issouri had lost not less than $1,5OO,- in the last three months in conse- hence of the two cents a mile pass
 ger rate. With many of the roads
 owing a similar result in their earn ANgs one railroad authority predicted a Mering of wages of employees.
 United States Steel shares were rath-
 heavy during the morning, in spite
 assurances from Pittsburg that ere is a slight revival in the business
 that considerable orders are com
 to hand in the wire and other de- rtments. The heaviest selling appear
 to come from brokers who frequent7
 execute orders for leading interests, bo presumably have better facilities hn most persons for learning the
 act facts regarding the state of the lustry. Steel preferred was offered
 fairly large lots at concessions in
 lee.
 Ehe first sign that support was crum-
 ng came with the decline in Union
 cifc below 130. It has stood above
 ht figure and resisted selling that
 aght to break through the price.
 rthern Pacific and Great Northern
 went under prices around which
 have been fluctuating. Steel fell Her 2S and St. Paul under 120. Smelt- s around s1 and Amalganated Copper
 little under 61 showed very good op-
 Ftion to the decline.
 he sale of 100000 pounds of copper
 China stimulated metal prices
 oad and advanced Rio Tintos a
 ht It assisted the bulls here in
 per shares in keeping these stocks
 ady when the rest of rhe list was
 lining. There was some good sell
 however.