The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-01-09
STOCK MARKET FEATURES
HIGH MONEY RATES DAMAGE
BULL MOVEMENT.

Cali Loans Squirt Up to Is Per Cent
Prices of Many Stocks LOwer--sharp
Drive in Last Hour--B. r.. It's De-
cisiOn-Distrust and High Money
DiscOuraging to BuIIs--The Days
Gossip.
The bull movement in stocks got a
bad knock yesterday, due to the tight
ness Of the money market.
Call loans rose to Is per cent. in the
afternoon.
It was story of higher money and
lower prices
A theory popularity advanced was
that the Union Pacific inquiry had I'M
settled confidence, and the fact that
this stock was the weakest on the list
possibly gave some color to it.
The same sort of suspicion Of corpor-
alton affairs has been aroused by the
stock operations of Hartman and
Rockefeller, as developed during the
life insurance investigation.
In the reaction the losses ranged
from IL to 2 points Union Pacific, ST.
Paul, Brooklyn Rapid Transit and
Amalgamated Copper were the weak
features.
Most of them were purely manlpulat-
i've as for instance the squirt in Colora-
do Fuel, Pennsylvania, Reading and
Amalgamated Copper, at various I'M
tervals during the day The market
was very narrow.
Certain corporation demands and the
payment of city taxes may have been
responsible for the rise in call money,
The flotation Of $25,000,00 American
Telephone bonds absorbed fair
amour! 81 capita.
Trading in stocks fell away decidedly
yesterday. Sales to noon were only
1900 shares, of which three issues
Copper, Union Pacific, and Reading
made up about 100000. The Hartman
stocks sold off right at the opening.
The idle character of the market was
very discouraging to those who, once
the advance began, thought it would
go on for, some time The speculation
flattened out completely.
The closing of the stock market was
weak, the lowest prices of the day be-
Ing seen in the last half hour. Union
Pacific continued the heaviest stock on
the list, which created bad impress
sion. From all appearances a good
deal Of long stock was distributed to-
day
Northern Pacific will sell ex-rightc
to-day. Both of the Hill shsres did
eral market. Great Northern showed a
loss of 100000 in gross for December,
The New York and Portchester Rail
road company yesterday afternoon filed
with the secretary of state at Albany
a certificate of increase of capital stock
from $250,O0O to 100000.
Stop loss orders were reached in Am
algamated Copper on the decline tc
lis SIS This quick drive was followed
by a recovery above 120. A report came
out that James R. Keene had taken
charge OF the pool, and that higher
prices were the result.
The Boston market yesterday main
tained its breadth and activity, but
without any sensational features. Trim.
ity ran off three and one-half points
with some rally on moderate volume
of dealings. Shannon and Allouez rose
well. Shannon rose to 81 and CLOSED
at 20 rs.
Another concession to the Nashville
and Chattanooga shareholders was
made yesterday in an increase in the
dividend to per cent. basis.
News that the Brooklyn RAPID
Transit has won its suit in the ma.
ter Of ten cent. fare to Coney Isant
came when the general market was
dropping. 1t rallied B. R. T. from 81 K
So. Unfortunately for the pool the an
nouncement was handed down whel
call money was at Is per cent.