Daily press. [volume] (Newport News, Va.) 1896-current, 1907-09-18
UnfaVOrable Factors Failed 10 Have
a Depressing Influence on The
Stock Market.
RECOVERING FROM some sGARts
Standard Oil Litigation and Henry
H. Rogers illness Did Not Help the
Bears Any Yesterday-Railroad
Group Quite strons-TotaI Sales
and Closing Quotations.
lny Associnted press.)

NEW YORK. Sept. 17.-Stocks had
good recovery today and the yigor-
Gus upward movement wac in face
OF some unfavorable factors. or rather
of realizing of some unfavorablc hap
penings that had, been previously
acted upon in the market. The re-
verse movement of prices usual on
such occasions was responsible. in no
small part for the brisk recovery of
the day. Operators in stocks We're
very busy discussing the resumption
of the proceedings OF the govern
ment's suit against the Standard Oil
Company. but Il was evident that the
long course of preparations for this
occurrence had exhausted the require
ments. The same was true of the
disclosure In sworn testimony in court
of the precarious state of health OF
n foremost capitalist in the copper
industry. that persons seriously in
ness having been reported and ex-
aggeratcd TO the point of an alleged
fatal termination many times in the
course of the recent bear campaign
The facts rs now learned were given
large Interpretation OF the whole
course of the market in July aEI
August The market, in short. gave
every evidence of being oversold. A
confirmation of this was seen in the
loaning rate for stocks. some of which
having commanded small premium
in the loan crowd. This fact was only
accepted for its true value today
after prices turned upwards and IL
is favorite device in the liquidating
market 10 borrow stocks for delivery
to avoid the transfer Of holdings in
the name of influential holders and
give the appearance at the same time
OF short interest in the market. The
bears have ignored the significance
of the demand in the loan crowd so
long MS they have the weak spot in
the metal securities to help in forcing
prices upwards. With relief today for
that weak spot the influence of the
strength for several days manifest in
the railroad group asserted itself on
the whole market. Sentiment over
the situation in the metal market was
apprecably improved and greater con
fidencc was expressed that Il level or
more effective demand was being APP
preached which gave promise that
the market would right itself. The
conspicuous strength of the Hill
stocks was evidently due to assnmp-
lions OF the benefits TO flow from tho
higher dividend distribution to Bur
lington stockholders. Union Pacific
shared In this movement, although in
lesser degree Continued unsettle-
ment IN the cotton market was the in
dlcatlon of the reimbursement going on
of earlier unfavorabe view OF the
crop prospects. Money or call here
continued firm and there was strong
er tone in the time loan market Tho
feature of the money market in the
large supply of mercantile paper and
the high rates commanded by all but
the choicest grades.
Bonds were irregular. Total sales
jar value s1.7S2, 900. u. 8. bonds were
unchanged on call. Total sales today
sol 800 shares. including: Copper So
400; Smelling 900; Sugar 400: To
bacco 100; A. C. L. 1907 G. and O..
700: l.. and ~ 100; ~ and W. 200;
Reading 10000; Southern Ry. 200;
do pfd 100; u. p. 91G0O; IT, S. Steel
$4,000.