Daily press. [volume] (Newport News, Va.) 1896-current, 1907-09-05
Obstacles 10 Granting Immunity 10
Chicago q Alton Causes Prices
to Take a Tumble.
COPPER MARKET CAUSE FOR WORRY
1t VIII Have to Settle Into a Stable
Condition Before the Market Can
BE Active and strone-Decllne
In Wheat-Total Sales and Closing
Quotations.
tBy Associated Press,

NEW YORK. Sept. 4.-'rhe reaction
in prices of stocks today was regard
ed ms being due. for the most part to
the natural running out OF the force
toward recovery which has been oper-
alive for more than week now. But
besides the normal reactlonary ten
dency due to technical conditions
there was some revival OF positive
factors OF depression. These had to
do mostly with the phase OF anti-cor-
poration agitation The incidents of
most Influence in re.awakenng the
subject were the apparent obstacles
raised Nganst lnhe granting of i'm
munity to the Chicago g. Alton for
the testimony used in conyictng the
Standard OH Company OF Relating and
the reopening of the hearings in the
local traction inquiry which is being
conducted by the Public Service Com
mission In the Chicago and Alton
case the assumption that decision
against immunity would throw serious
obstacles In the way of future at
tempts OF the government to prose.
cute rebating offenses was ignored
or escaped notice in the prevalent
tendency OF spectators to give heed
to forced reaction. Another source
OF uneasiness was the doubt whether
the copper market would settle into
n stable condition ut the lower price
level established by yesterdays cut.
The close correspondence between
the extent of the reaction in American
Smelling and It's sudden advance yes
terday was inactive OF the realizing
nature of the selling which was GO
ing on In that and other stocks. The
most notable gamer in Yesterdays
movement were the severest sufferers
In today's decline. The effect OF the
situation In the copper market was
aggravated by the consideration
given to the reported embarrassment
OF the Union Iron and Steel Com
pany. Although the company Is a
small one and its troubles are pro.
nounced not to be significant Of gen
eral conditions speculative sentiment
did not escape the discouraging effect
Of the announcement which was feared
as a symptom OF conditions in the
trade.
The sharp decline In wheat was
not dlsregarded In the stock market.
although 1t was attributed principally
TO foreign crop conditions.
The profit taking toward the end
OF the day on the part of the bears
but the closing tone was easy.
(, Bonds were firm. Total sales, par
Saine, $1,02SUOO u. s. Registered As
declined IA and tho coupons 1-2 per
cent on call
, Total sales stocks today 417,JNl
shares Including: Copper 49.200:
Smelling, 43,OvJ; Coast line, 200; G..
& o.. 1000; Reading. 81 800; So. Ry.
l,hO0; u. p. 1880; V. c. c. 100.
Adams Express .............. $50
Amalgamated Copper ....... 71M
American Car and Foundry. -. 1914
American Car and F'ndry, pfd Go
American Cotton Oil ........ a2H
American Cotton Oil, pfd. 80. SO
American Express ............ 1872
Am. Hide aud Leatehr, pfd. :. 1917
American Ice As
American Linseed Oil ....... 8
American Linseed Oil, pfd. 80. IS
American Locomotive .,...... 53M
American Locomotive, pfd :. 101
Am. Smelling and Refng. 80. 99ts
Am. Smelling and Ring, pfd.. 991k
American Sugar Refining. -. 11SM
American Tobacco, pfd certif. 40
Anaconda Mining Co. ... Az
AtcniSOn ........ ............. S6M
Atchison, pfd. ............ 90M
Atlantic Coast Line .... S2ss
baltimore and Ohio ....... 9u&
baltimore and Ohio pfd. SO
Brooklyn Rapid Transit 49,. 47M
Canadian Pacific ............. 1861
Central of New Jersey ....... 40
Chesapeake, and Ohio 30
Chicago Great Western ....... 10
Chicago and Northwestern -. 14d&
Chicago, MI. and st. Paul 80. 1219s
Chicago Terminal and Trans 4
Chi. Terminal and Trans pfd. Is
G. c.. @. & st. Louis ........ G.N
Colorado Fuel and Iron ....... 24M
Colorado and Southern ....... 23&
Colorado and Southern st pfd. "a
Colorado and Southern 2nd pfd. 46
Consolidated Gas ........ lO5 -
Corn Products ............... 14H
Corn Products. pfd. ......... %
Delaware and Hudson ....... 1913
Del. Lakawanna and West. AGA
Denver and Rio Grande .. 23%
Denver and Rio Grande, pfd. :. &c
Distillers' Securities ..... 55M
Erie ........................... z4%
Erie, LIST pfd ......... 30
Erie. End pfd .......... 37H
General Electric .... 127is
Illinois Central ....1 1876
international Paper .. lax
international Paper, pfd. 80. ~
international Pump .. 90
international Pump. pfd. go. C5
Iowa Central 16
Iowa Central pfd. ...,..,.... 35H