New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-08-21
SHARP PRICE RECOVERY
Wall Street Treasured by Presidents
PrO1incetOzcn 4ddreSs.

In Wall Street. it IS commonly said the ticker
talks and the ticker yesterday expressed IN sharp
and general price advances from early low levers
with a strong close the favorable impression made
upon Street sentiment by the explicit declaration
of the President in his Provincetown address that
there had been AMI would be nothing vindictivs N
the neutrality-suspicious. prosecution OF corporations,
and that ny action which would infict unreTi'ed
suffering upon innocent stockholders and upon 10
general pubic would be instituted
The opening had been irregular n response to
weakness IN American securities in London
ascrfbed 10 Secretary Taft's speech NJ Columbus
and although that address proved TO he about as
expected the local market began slipping on from
tho OpeninE on renewed liquidation and short SILL
ing and by the middle of the second hour declines
OF from ! 10 "a points had been suffered Brook
Ivn Rapid Transit and the lnterborough- Metro
politan issues were the leaders IN the decline. the
former falling 10 37I4. It's lowest figure since S
and marlborough Metropolitan common and pre-
ferred going respectively to and "a ootn new
low record levels
At about the low OF the morning the market oe-
came quiet in expectation OF the Presidents
speech On the publication OF the outline OF tl7
address there was rally OF from L point 70 n
points followed by a slight reaction men S@N7
the amendment" in which the President an
nounced his determination not 70 DO what Wou1
work undeserved hardship 70 the innocent nut a.
the same time 10 secure from the most poWeliui
corporao-l interests the honest observance OF tns
law and TO prosecute criminals rich or poor
For half hour or so little trading was done. the
rank aud file apparently waiting for the j1dsnlSH
OF the large interests on the speech Then eNceiH'
buving orders were put in for execution. ana me
hears noting this and finding no sign o. renewed
uoufdatfon came TO the conclusion that the m
portant interests were disposed % view the al
dress as reassuring. and thereupon began GOVERNS
their short contracts In the rally thus oeSun
which continued with virtually no setback rltl
the close such recOyeries were made as ia poins
In AuaIgarnated Copper. "a in American Srneleis
and Refining common. rs in United states 80
preferred. ? points in New York central. - -
Northern Pacific. SIS IN Great Northern poii''
In DstfIIers Securities AZ in Reading. As IN UhOh
Pacific. 2S in Southern Pacific. Sa in ST. Paul and
IS. in Brooklyn Rapid Transit. which closed 90
points above Monday, at as
More favorable advices from the foreign hnan-
ciaI centres helped IN the Improvement here, ana
no adverse influence was caused by the annouh'v ,
rnent of a second engagement Of 100000 IN sou
for export as this was understood to be speciA
transaction and the foreign exchange raatA7e
showed a slightly declining tendency During tns
Gay there a good deal OF investment ouS"s
In small lots. -.
On the curb American Tobacco common. VIII
sold ESQ at the incorporation % the conapan! =
the fall Of 1904. and subsequently went aooVs S''
opened at 230. its low record figure Until yes'e
day. and sales OF 500 shares. heaVy O'S
transactions for this issue. fell to 2ol. cioSns
2O5 bid and POI asked When the government
prosecution Of the company was begun. TWO iii'"'1
or so ago. the stock ruling at SO =,
The Presidents reference TO consPHa'S
certain rnalefactors Of great wealth 10 0iS
about financial stress with the object or discI'
ing the administrations policy was Wiueis
cussed in the financial district where these h,s l
were supposed TO be the so-called "Stanoaiu -
party" The general impression was that thes ~
so heavily loaded with securities that they -
ably could not have engineered the object So
of which there have been in the past ni"'
mo