The daily morning journal and courier., 1907-09-25

ing poorly. Prices opened weak, ral- lied and then fall off again at the close.
 Outside of the news of a receivership for the New York City Railway, which had been expected, and the Chicago & Alton immunity news, there was little to influence prices.
 Money and sterling rates were prac- tically unchanged; the only striking movement of the day was further sharp decline in New York exchange at Chicago, which, at 50 cents per $1,- loco discount, touched the usual cur |rency-shipping point
 Changes in price were small, and . Transactions, reaching only to S0O,OOO |shares, were very much the smallest I since the opening of last August. The market closed uncertain, but with the Enet movement of prices upward as of- sten as downward.
 What produced the opening decline Iswas heaviness in American securities Eabroad on speculative selling from this l |side and uneasiness concerning the $copper situation.
 There was no actual change in cop Eper quotations, and with the metal &down to fiat rate of 15 cents a pound arumors were current of large engage sments by consumers.
 The news of the immunity granted 4by Judge Landis to the Chicago & IAl- &ton in the Standard Oil rebate case and 1.-the receivership for the New York City frailroad was worked for all it's was *worth, but with little result. The first 2event was used to advance stocks in #that 1t disposed Of the possible gov #ernment policy of haling MT. Harri- &tnan and others into court. It allows # the Toledo, St. Louis & Western to go ahead with its merger project.
 There was much discussion as to the copper-metal position and as to how # far prices are from the bottom. Re. ports were current that sale of 500 OOt bounds had been made around 15 cents for electrolytlc, but this lacked confir. mation The rally in the copper stocks in the last hour may have been due tt towering by an over-extended short in. terest.
 A small lot of currency was shipped to New Orleans yesterday, and inter. Tor exchanges were again decidedly against this center By the end of nex' 2 week 1t is believed the demands from the interior will be in full swing.
 Traction stocks were practically un. affected by the news of the receiver, ship.
 Bankers have heard some suggestion. that supplementary call will be is sued by the comptroller within a shor time. Ordinarily there would be nc } call from the end of August to Novem Der,
 The call money market was easy ! Turing most of the day, and offerings were plentiful. Time funds were also k. h rather more abundant supply, and bankers showed less disposition tc withhold accommodatiGn
 So far since July the interior ship hents of currency have amounted tt 35, ,15O00O, compared with $11, ,S85, 1000 las lear However, of this latter amoun Fl learly $10,000,000 was for San Francis b, which this year has only with
 rawn $1.7Oo,OOO.
 New York City 1-2 per cent. bond gere steady, and there was little
 uiet absorption, though how far thi epresented investment buying wa, |s. pen to question. Many of the pur
 hases seemed ito have been made b, hanks desiring to use them for secur
 y against deposits of public funds.
 Local banks stated yesterday tha
 hey were shipping currency to the in
 erior for crop-moying purposes, in in
 reaslng quantities. They expecte,
 bat this loss would be reflected in tn
 ank statement at the end of the week
 Another decline in Inter-Met. 4 l.
 er cent. bonds occurred on the sug
 estion that friendly receiver migh
 e applied for for this company as tn
 est way of unwinding the tangle. ]
 claimed, says the Mail by some Man
 attan stockholders that their road 1
 hrrying the subway and paying tn
 est portion of the dividends of 8 B.
 er cent. on Interborough Rapid Tran
 t stock. They figure that had nc
 he Manhattan surplus been used tn
 lbway would show a deficit in tn
 hree years of operations of over s2
 10000.
 Most interest attached to the finanC
 l position in London. where some lit
 concern was felt regarding tn
 prthcoming settlement It was state