The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1907-08-09

|ARKET CLOSED FIRM
|ovement of Money West
large Payments for New
Stock Issues.
After a still further drop in stocks
the opening hour yesterday the
\ rket stiffened up and prices rallied
\ after a period Of uncertainty stock
ees regained the greater part of
bit they had lost at the opening,
trading during the afternoon, up
\ the close, was quiet Prices moved
h hin a narrow range, but the gains
4 Re maintained. =.
buring the first half hour of trading
7noralization reigned with declines
to 4 IL points, and there were
N ny calls for more margin and many
ers to sell at any price. This meant
the four days of this week losses
from u to Is points for some
res. Then trading quieted down,
there were rallies of a point or
re in some issues. But others con-
bed to break for the time and senti-
I bit was unsettled.
By 1 o'clock Union Pacific had recov-
Ia four points from the bottom.
Slding was on a smaller scale COM
lea with morning operations. For
first two hours the total was about
1000 shares, or at the rate of 100000
! res a day.
standard Oil stocks declined Is points
the curb yesterday, to AT, making
total of 23 points decline since the
brit decision.
large payments on new securities
lich was due yesterday, and next
blk, together with the rise in call
: ney, tended to disturb things. A
Iyment of $9,OOO,OOO was made by
bat Northern shareholders; one of
\ 100000 was due on Union Pacific
lvertible bonds yesterday, and an
Rer payment Of like amount on
Ilthern Pacific new preferred stock is
i next week. With the present short
of funds it is difficult to meet these
ensive requirements.
malgamated Copper broke in the
enoon to IA IL, as against Is 314
tuesdays low price, American
citing and Refining went to SO rs,
lpared with 1O1 IL, Wednesdays
price, and Union Pacific to 127 H.
+ Inst 1870 IL, Wednesdays low fig
These were notable examples OF
Sakness, but the market fell away
srply.
, Ia the upturn Union Pacific, for ex-
T pie, rose to 1872 up, 4 1-2 points
4 n the early low price; Reading to
2, up 2 3-S points; American Smelt-
and Refining to 102 10, up SIS
snts; Amalgamated Copper to n rs,
S-S points; Southern Pacific to
IA, up 2 ga points; St. Paul went
= to 1926 3-8, an advance of 25-S points,
so on through the list of import
issues.
! he urgent liquidation at the start
a carry-over from Wednesdays
noralized conditions. There was
hing to press the advantage of the
s r element any further except the
orous statement Of Attorney-Gen-
Bonaparte on the treatment that
i uld be melted out to those guilty of
4nse against the trust laws. Posi-
+ the investment conditions abroad
bred the bearish sentiment, for Brit
consols were down to a new low
BIRD and foreign houses We're quite
i've sellers of American securities.
#he decline of the present week to
Ne in a few of the market leaders
been as follows, comparing We'd
Eday's closing prices; Union Pacific
b.; Amalgamated 8 rs; Smelling
SIS; St. Paul, 9 IL; Northern Pa
J, ii SIS; Great Northern, Z rs;
ding, 8 ga, and Southern Pacifn
While Copper and Smelling shares
Ike very sharply during the first
+ they appear to have been we'll
ght during the remainder of the
and the further reduction in the
be of copper metal attracted little
Ention. 1t was reported in the fl
Hcial district that local copper inter
were sanguine of reaching a salts
"A ory agreement at to-day's meeting,
III reference to the maintenance OF
hes. Thus far, it was contended,
*hmet and Hecla refused to- be gov
He'd by any other rule than supply
demand Foreign copper shares
+ he'd on this reported understanding.
n important incident apart from
q stock market was the shipment of
7rency to the west. Both Chicago
4 San Francisco draw on the SUBJ
lsury for 100000. It is assumed
II this means the beginning of the
#rency drain. by the interior for crop
Wing. 1t is beginning earlier chan
Nal, and in spite of the usual STATE
1cnntinned nn Twelfth Pagel