The daily morning journal and courier., 1907-08-10

the rather heavy liquidation for n account. Some stocks like Ca- h Pacific and Interborough-Met tan touched the lowest prices on secline and there was a return in ] instances to about the bottom E of two days ago.
 Ether violent break in the price of h consols, which at one time sd net decline of 9-16 point for lhy, was a development of real dis elce at London, where speculators bur stocks heavily. The fall to in the price of the premier se- the lowest quotation since 1S4S ! Ited largely from Berlin selling, krman markets being considerably lied. These developments had in- influence here. our market again < lying weakness soon.
 The last hour the market was afz \ by the government crop report, showed a falling off in the con-
 and yield of wheat, though a |bf several per cent. in the condi- gf corn.
 Aewed selling carried most of the shares two or three points be- Thursday, with noteworthy weak n Union Pacific, Reading, Copper, $York Central, and Southern Paci- he heavy selling of the Inter- &gh shares, which touched new ecords, led to some unsettlement
 afternoon.
 Fey here was unchanged and there less of a demand on the part of Ners for accommodations. The ! show a loss of cash for the week er $2,0O0,000, but the loan item is
 on account of liquidation in # offset by syndicate borrowings. T currency movement has from in- zons turned against New York. Banks have apparently sustained a ss of $900000 cash, chiefly on inte- Shipments. Such a loss in reserve #pffset a good share of the con- pn in speculative loans which have accompanied the heavy liq- lon in the stock market.
 Grand Trunk Railway of Cana S day passed the dividend on it's preferred stock, Dividends on tock were started in 1902. In Fear it paid 1 per cent; in 1903 2 mt; nothing in 1904; 2 per cent in nd 3 per cent. in 1906. The stock
 company is dealt in in the Lon arket, where it is often a prom feature.
 Ely summed up, to-day's esti-
 show that the prospect for corn but what was expected-that is nearly 3 per cent. better than y that winter wheat, for which tual yield is now figured out, is
 by ten to twenty million bush an any previous forecast, but bring wheat shows unexpectedly
 loss from the July calculations,
 wheat crop is far above the av-
 of the two years before the of 1905 began and it comes at 1T when Europe's demand for our
 wheat is certain to be urgent,
 was not in 1903 or 1904. This
 is in our favor, certainly.
 he late trading stocks were quiet
 Inn, making up most of the early Nevertheless, it was clear that srsons cared to buy anything for ative purposes except few in- s. The declines of 10 to 20 points
 a very few days had the effect heartening the entire speculative 1t.
 compromise between the South Bilway and the state of Alabama ne of the satisfactory incidents
 day. The political condition sur ng Southern are now equally i'm.
 with the financial situation ben the two the directors have proposition to deal with. They ,t meet to-day for the dividend on. The impression still pre- that the rate will be passed.
 selling of Interborough- Metropol
 as based on a current belief tha'
 lblic Utilities Commission nigh
 the diseontinuance of the divi
 on the preferred stock, which by
 Il the fternoon had reached thu pf 95.
 !