Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-03-15
MARKET REPORTS
NEW YORK STOCK MAhNET.
Features of the Days Dealing in All
the Leading Stocks.

New York. March 14.-LiqUdation was
of volume and character today such
as has not been witnessed on the Stock
Exchange since May 9. 1901. whcn tn.
development of 4 corner in Northern Pa
clc preciptatcd one of the scverCst
short ranCS ever seen in tn" Now York
market. The sudden and acute. outhr"ak
Of renewed weakness owed most Of il;
violence Ia tn" feeling Of dependency i'll
speculative circles; regarding the effects
OF the public agitation against corpora
lions and the nearly universal trend of
legislative measures against them. Re
cent events have created the impression
that these great authorities in the rail-
road financial world AZ" in a cnrdition of
keen anxiety and even of fright about
the prospect they have to face in the
mater y vague superstition was enter
tanned early in the week that some eff
f"CtfVc measure WAS tn be taken ut
Washington which would put a new face
on the platter. The panic broke OUT On
the Stock Exchange today i'll connection
with dispatches from Washington to
brokerage houses that no change of poll
cy or of administrative conduct was 20
be expected in Washington. This ap-
pealrd strongly to tn" speculative fears
as sweeping away the last bulwark Of
protection for railroad companies from
the onset of Indignant public diSapproval
AID even thrt atcned contISCatiOn. Spec
ulative operators saw this vi.a of the
situation confirmed in the mysterious ard
overwhelming Outpourng of stocks.
which they attributed to capitalists who
hold controlling interests in toe great
railroads.
There came into the excited market to-
day also a rIrl0r that differences had
arisen between Kuhn, Loeb & Go. and T..
ii. Hartman. which prompted a call upon
that capitalist to take up his vast hold
inss of stocks with that firm. This ru-
NOR was authorize tjvrly denied hut tn,
fear it created had its part in the de-
moraIization of the day. The excited
market was accompanied by n rise i'm th,,
call loan rate t. - D"r cont. and tn"
time loan market WAS practically unquOt-
able. Bankers. however. asserted with
ont reserve that tn" most painstaking
threat Of mercy trouble or Of cmb;,rrasS-
mcnt. This is considered the most re-
markable feature of the present remark
able situation.
The market had substantially recovered
at one time during the morning and CON
the wild liqnidat in Union Pacific
started the Generalization in the Who'll.
list. There were Some violent fiuctua-
tinns due to the rush of shorts to secure
their enormous profits at various tirneS
but the tone of demoraNZation contin-
ned practically IN to the close. The in
tended plan of relief hy the treasury de-
partme1t was not pr1de known until ar
ter the market had closed, but specific
reports were current of the intended nc
ton: without appreciably affecting the
market. Some of the most conspicuous
of the days extreme declines were.
Union Pacific. 25i4 Reading. 22i; Ameri-
can Smelling. 21ls; AmalGamated Copper
1SH: Delaware &, Hudson. 1914 and St
Paul. Northern Pacific. Southern Pacific.
Anaconda and Pullman. 10 to 1872
Bonds were but slightly affected by the
acute weakness of stocks, but were gen.
orally lower. United States bonds were
unchanged on call