The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-08-07
late Features OF
THE STOCK MARKET
Prices Were Under Pressure
Most All Day.
ANOTHER HARD BREAK
bome Rally in the Last
Hour Followed by a
Weak Closing.

Hour Followed by a
Weak Closing.
Tho recent dullness in the stock mar
81 Was again broken yesterday by an
Their drop in prices carrying various
the active speculative stocks to
bout ten points lower than they were
few days ago. There was a aun
nell in the middle of the day put 1t
a. like the stiffness which OFTEN pre-
] eded a downDour.
The work Of professionals was plaliliS
ben in the days operations
An effort was made to create the
#lea that genuine liquidation was tne
huse of the decline. No doubt there
as been a good deal of selling put
here was no general liquidation Prices
stocks are too low now compare
I velv speaking to call for much alarm
Such liquidation as there was was not
rom bona fide holders of stocks.
MANY shares yesterday were only a
wv points above the low mark OF last
$oring. The industrials, as a WHOLE
= ere more sensitive ~ pressure than
he railroad list
The average price of stocks was only
! We points above the May low level
i The withdrawal of support caused
Hbanv holders of stocks to throw
lem over, while the decline had the
utcmatic effect Of causing liquidation
reaching numerous stop-loss orders.
Holland took 100000 in gold out OF
bis market yesterday, and sterling ad-
anced trife, ruling, however. con-
derably below the level, at which 1t
ould be possible to resume the gold
kport movement to Europe, The Hol-
Ind shipment, like the one of $l,OOO,0 Ou
July 2 last, was sent in coin, being
Especial operation" and not govern
by the usual course of exchange,
marlborough Metropolitan shares
Eoke all records. The common sold
4 bwn to IA IL or oneha1f point be-
Nv Mondays close, and compared
tn Is IA in the March break, while
q preferred sold 40 ga, as compar-
with AZ in March. 1t looked as il
me of this stock came from mem
|rs of a syndicate which underworld
much higher up.
The decline in American Smelling
mmon to the lowest price since
s e March panic was accompanied by
ports that a large pool in this stocl
Rs liquidating, and still had more
Z pck for sale. AS is usually the case
facts were obtainable
The attitude of the state legislatures
the south is not affecting earnings
uthern Railway gained $191,35'
st week, Louisville and Nashville
5S,427 and Texas Pacific about $50
0. The fiscal year has started brigh
b all roads in the country.
One favorite argument of tn
ears" was that as an per cent
bck Smelling is much too high, com
red with Amalgamated Copper
hich pays the same dividends.
Call money showed no furthe
ange, but more perhaps was sal
sterday than on any previous da
out the difficulty of borrowing tim
pney for the distant periods.
Fresh selling Of Great Northern an
brthern Pacific followed Monday
ort to support them. Great Norther
|e certificates, which were very veal
re offered down several points b
rem Brothers & Co, and Moore
h1ey.
Among favorable developments {
day were the sharp decline
heat. and also recession in cor
to the growing belief that til
vernment crop report to be give
on Friday will be better than al
ipated.
Union and Southern Pacific had
ar a good deal of the bear attae
was popular to sell them short
idea that the people who engil
red the recent rise were carrylr
bst part it has shown new holders
hnce to distribute it.
standard Oil stock again failed
I'VE down with the rest of the mar
It closed about point belo
nday's closing.
rbe industrials were special
ak Sugar, for instance, dropped
Rubber common went off
nts. Coloroda Fuel declined to ne
low level, while Locomotive, Be
ear and Others like them are hard
srket when sentiment rules as 1t 90
w.
-----
rhere was a great deal of discussi
yarding the ability of the copper pr
- cling companies to hold the pr
lother cut of IA cent pound W
de yesterday on the Exchange for
AIDES. "A curious report came fire