Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-03-26
LOWER Than ON SATURDAY.
Buyinq Demand Gives Prices a Raj
ly Toward Close of Day--Prices
Also Break In Boston.

New York, March 25-There was a
violent slump i'll prices on the Stock
Exchange again today. accompanied by
exciting trading, but without news to
account for it othcr than IL decline in
metal prices IN London and higher
rates for call money. The monetary
situation did not seem to attract much
attention. however, and according to
brokers and members Of banking firms
there was nothing to explain the rapid
melting away of prices except 1hat
holders Of stocks wanted to sell them
and apparently did not care much as
to the price they got for their shares.
American Smelling was one Of the
weakest features, falling an extreme
1879 points but the United States steel
CORPORATION shares and the railroads
also made wide declines. 1t was note
worthy that throughout the day there
was entire absence of the disturbing
rumors Of fortnight ago to the effect
that important failures were lmpenu-
ing. Bankers generally said that no one
ives in difficulties, that brokerage
houses had protected themselves with
ample margins and that whatever
might be the underlying cause OF the
recent prccipitate declines III marked
u,lctatilns. they did not believe that 1t
was fear Of any failing to meet his la
bilities.
The market opened irregular, WITH
some stocks showing = rather strong
| tcuc among them Canadian racine
which was up two points. The fluctu-
atoms were extremely nervous imlne-
1iatelv after the opening and it was
only 4 few minutes until the entire list
| had weakened and Was breaking Wild
| ~ The volume of the selling orders was
| eo GREAT that il would have been I'M
! nossihlc to check the decline even II
| there had been attempts to support
| prices. a,a1
| American Smelling. Amalgam2ted
conuer. United States Steel Union "a
| life, Northern Pacific and fse"dilS
| yc,t down without restraint. carrying
| with thcm the general list without s.
| ccrtfnn. Brokers everywhere hah he'lN@
| ,,dc,s to sell ana the seen" on IN" l'"oi
| Of thr Exchange WAS on" OF '"nSloi'i a
| t1o ,.vt it.ircut and confusion anu 81"
| .,i,oI traders sought to execute th"ll
| ,,,,,,,i..ions After the first democrat
| ;za.;o, there came Il quicter perlod -
| .,,d;nr, and the market steadleu oiilS
| to give way again just as soon as 'iie
| N,oss,,re 70 sell was resumed.
reward the close Of the day ouy l'le
| demand. apparently to close out snort
| contracts appeared, and gave prizes Z
| r,lIv At the last the market va m
| citad and irregular, with quo''l =
| hotter than the lowest. but ShoWiio q
'yido decline from Saturdays 1lgules.
| Ca,adian Pacific, which was weak i"'l
,rank however, closed a point hishea
Inn saturday. The principal decii; !re|s
| of tbc day as shown by the cioSh'7
| quotations were; 90 ,,o,ican
Mathematical Copper ga, America.
| Swelling So, Anaconda IS A.cI .,
az baltimore & Ohia 4, St faui ca D.
General Electric g. Great NortI,T ,'. = M
cot Northern ore cts. 9. M,ssoui
pacific 81, New York Ar braNo o.
Iaw York Central ga. Northern r. "a
cific go. Reading 5%. Rock islanu - -
southern Pacific 3, Union Pacihc '7s'
Irnited states Rubber So, United S'at e,
Steel "a. and United States steel f,o
~ The total sales for the day were =
| 7O2, O52 shares.