The daily morning journal and courier., 1907-09-21

price of New York city's new bond is- sue and to continued absence of liqui- dation added to the above named fav- brable features was the disclosure as to | he source of the recent forced liqui- | dation in the 'gilt-edged market" with l ehe assurance that the necessities, 1 which drive to that act a speeulator of l very great resources, had at last reach ed their end,
 Prices looked very strong up to mid | Bay, but up in the last half of the ses- sion there was general depression and Inability or unwillingness to support ' he list. Where prices have been ad- Ranced rapidly of late the declines were most prominent, as in Union Pacific, which touched 133, and then fell off |hbout 2 points. Other losses were from ! to 1 1-2 points The closing was heavy and not far from the lowest of he day.
 There was little news; rise in ster- Hing and some further signs of relaxa- Zion in rates for time money made up Ehe budget of the day. Foreign stock |narkets, like our own, were cheerful. The market is in position now Where it shifts rapidly from an, over Bold to an overbought condition. M Money rates were nominally easier. |rhe banks gained about $2,0O000O cash khis week, but how the statement will De to-day 1t was hard to estimate. The weakness in Northern Pacific shares, which have been the strongest zeature since the present rise began, ex- *ited marked comment. The drop was Enlarged to profit2taking sales and to liquidation by tired spectators, who lad expected to see better rally, and Home positive announcement by the Management this week. Wall Street leard that the next dividend on this % %ltock would be at the rate of per 8lent. year. which would mean an ad- lance of 1 per cent. over the present Hate.
 There was heavy selling of Union Pa &ific by various holders, who had %nall profit in the stock This liqui- # ation had decided influences and made eople wonder whether the clique that %a been following the rise had decided # hat there was opportunity to take rof1ts.
 l.
 2 Much comment was aroused by the Publication of the individual holdings n Standard Oil stock It was evident hat the property is more closely held pw by John D. Rockefeller than ever # Obviously some one with much stock 5 pr sale has been liuuidating during he past year on the decline of 200 ! bints or more. It is believed that men I Ike H. H. Rogers, William Rockefeller, :. ld John D. Archbold, who have num- Fous stock market engagements, have educed their holdings to protect other kourities and that John ID, Rockefel-
 IT. has been the buyer.
 The dividend meeting of the direc- ers of the Anaconda Copper company
 scheduled to be held on the last |.a lesday of the month, or September 24. wing to the fact that three of the rectors-Henry H. Rogers, w. L. Bull
 ld J. D. Ryan-are i'll an dthat Will
 m Rockefeller will probably be out
 town on that date, this leaves but
 rec members of the board who could
 present, which is less than a ma s sIrity. It is expected that the meet
 will be adjourned to October 1 at Fl ast.
 6terling. exchange was strong. There
 ere few bills on the market, although
 e purchases of wheat for foreign ac-
 unt were larger than on any single
 " this season. Prices, too, were at
 e top points for the year. It is ob-
 bus that the money value of staple
 ports in the next six months will be
 great, if not greater, than ever be-
 re in spite of reduced American crops
 At the higher level the prices of
 bcks were attractive enough to in-
 lee many to gather in profits on hold
 Es acquired a few days ago, and the
 rly gains were soon lost.
 There were reports that the wheat
 bp in the Canadian northwest had
 en practically ruined by frost and
 ese were responsible for heavy buy
 for export. Frosts were also pre-
 ted for last night in Iowa and Kan
 where the corn needs at least an
 her week of warm weather to put it
 of danger.
 Ire adverse reports as to the crop
 re by many considered fake re-
 rts iR part at least.
 Dne of the most encouraging features
 the day as remarked above was a
 iceable Improvement Tn the bond
 rket, under the Influence of the con-
 ued strength of the new city bonds,
 In classes of which sold three-quar-
 5 of point above yesterdays top