The daily morning journal and courier., 1907-08-20
E FEATURES 0F THE STOCK MARKET |e Steadier, But Liquidation
 Keeps on. |USTRIALS THE WEAKEST her Discounts Abroad, But Pndon Less Disturbing
 Gold Engaged.
|USTRIALS THE WEAKEST

Gold Engaged.
 b stock market behaved a little |r yesterday. The tone was stead Ind news from London was less |ieting,
 counts were very stiff abroad, and more than probable that this week see another advance in the Bank ngland rate as well as in that of Bank of Germany, One small re occurred in London, while bs there were said to be liquidat- Bome weak accounts where mar
 were exhausted.
 b better conditions produced a Hal rally in prices here at the open which continued until about mid
 There was a feeling that liquida- had been pretty thoroughly com d in the last weeks drastic read- aent of prices. Furthermore the Bold state of stocks began to be re- Id in loaning rates which ap- ,hed a~pReaaiun-in some cases. li1e, however, the acute fears of md of the week found no further sssion yesterday, and while stocks .ondon were little agitated, the on money market showed the re-
 of the state of mind then preva-
 Private discount rates ran up per cent. to 4 7-S, which Is 7-S per
 above the rate of week ago, nearly 1-2 per cent. above even quotation of last Thursday, when Bank of England rate was ad- ed to 4 1-2 All this foreshadows,
 moderate certainty, a further ad- g to per cent. next Thursday. response to this Lombard street ment, our own exchange on Lon rose IA cent, touching what has ly been the gold export point, and ise was promptly followed by the cement of $5O0OO0 gold to be led from here, presumably to Ber-
 midday the market as a whole he extremely quiet, until an ob- Fly concerted "raid" on the street ay stocks started another general E, in the course of which Union hc and Amalgamated Copper fell
 the rest to the low prices of the
 The market closed heavy, but by leans demoralizedS in fact, the
 whole movement had a machine
 aspect,
 stock market was surprisingly during the greater part of the ing. but showed intervals of weak
 during which stocks seemed to essed for sale. The rise was noth- nore than a drive" against the s, from appearances. Many of
 were led to cover by statements
 the President's speech to-day 3 be more favorable than many ms had supposed, and that it con- d some reassuring words. It was contended that Secretary Taft pursue @ conservative policy in Pmpaign speeches.
 the other hand it was contended E'reassurance" from MT. Taft was ply. Whether any possible radical |nents of his had been discounted b recent heavy fall of prices was Patable question.
 action of the Louisville and kille in taking its rate case to the hl court in defiance of the state Irities has increased respect for it Strengthened it's investment posi-
 It has been firmer since 1t adopt lis policy, and so has Atlantic
 Line. Louisville is in a stronger on financially to test the law than puthern railway.
 latest utterances from the attor> Fenera's office were watched with Est. Something is now expected dai- |cluding interviews given out on ty by somebody attached to the
 of the Department of Justice. steady stream vss. had as much Iything to do with the upsetting hll Streets nerves.
 kers reported scarcely any new g on the part of the public They Ehat outsiders were too "scared"
 anything, and spectators were ing off and looking on.
 he reduction of $30, ,OOO,O coo in doanss Rst fortnight the banks have now |nallest obligations since last Ap- but they are still large.