Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-11
AND
COMMERCE
Wall Street.

New York, Dec. 10.-The stock
market today continued to be largely
one Of speculation The Hartman
Pacidcs were pushed forward into
prominence again but even these un-
uaIly influential leaders did not re-
vive any animation in the dealings in
the high grade stocks which in COM
mon practice predominant in the deal
ings. The special strength of the
Harrimans was connected with the
showing of the annual report of the
Union Pacific and its auXiliaries. The
rcport was a sufficiently striking eX-
hiblt of the vast and complicated ac-
tivity of this powerful instrument of
finance and industry, and the eff
cheney with which the instrument has
been employed was shown beyond dis
pute by the figures presented. The
general outlines Of the contents, how
ever, had been generally known and
the expectation of its publication
proved more effective in stimulating
speculation than did the realization
This was the more true because an
%ticipation had been Whetted by IN
timations that the report was to con-
tain suggestions en- the future general
policy of the companies. The reduc-
ton IN the holding for investment Of
the Great Northern and Northern Pa
cifc shares, the conversion of Chi
cago. Milwaukee & st. Paul common
stock holding into subscriptions for
new stock and the increase in Illinois
Central holdings were items of spe-
cial interest in the stock market. The
p|erusal of the annual report was of
less influence on the mind of the aver
age follower Of the market than was
the demonstrative buying of the Har-
riman and of other stocks by k
credited with acting for STANDARD Oil
interests. The %openness with which
large orders were executed from these
sources was supposed to mean Il
proclamation of confidence in higher
prices on the part of the buyers.
Needless to say the differences as to
the Identity of the buyers and as to
their motives are purely gratious and
subject to all the Elusive methods en-
polyed I'm skilled speculation. These
influences continued effective, how
ever. in inducing a speculative OIL
lowing which continued to buy stocks
and bid up prices. Filing Of notice
with the interstate commerce com
mission of an increase in transconti-
mental freight rates on January LIST
was a helpful factor in shares of rail-
roads in that group, The metal in
dustrials showed some renewed
strength.
A rise i'm the price of copper in Lon
don and the recovery of silver were
of benefit. Belief hat agreement is
neal on specifications for steel rails
between the Pennsylvania and the
United states steel corporation was a
cheering factor as it is believed that
the placing of orders by the Pennsyl-
vania would prove y signal Tor the
placing of orders by the railroads gen
orally.
Time loan rates were firmcr here
and the subtreasury continues to alb
sorb large sums from the banks with
out the payment of subscriptions for
the Panama canal bonds yet figuring
in those operations. Closing stocks;
Amalgamated Copper ......... S4h
American Car and Foundry =. as
do pfd.
American Cotton Oil ..,...... 4S3s
American Hide and Leath pfd. 36%
American Ice Securities ....... 25%
American Linsced -. .,..-... 10
American Locomotive ...... 55h
do pfd. ..........,..,...l09%
American Smelling and Refg- 92h
do pfd ''.''lVt
American Sugar Refining .....l32
American Tel. and Tel. ........129
American Tobacco pfd ...... -
American Wooden ......... 81
Anaconda Mining Co. ...... 1873
Atchison 9Sh
do pfd. .,..,. ''.lVZ%
Atlantic Coast Line ........ll0H
Baltimore and Ohio .......lO9#
do pfd. ..... ...''... w
Brooklyn Rapid Transit ...... 6S12
Canadian Pacific =. .........l1SA
Central Leather e. ......,... 29@s
do pfd. 99H