Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-07-31
AND
COMMERCE
Wall street.

New York, July S0.-The stock
market was much neglected today and
for a large part of the time was prac-
tieally idle. influence on this result
was attributed to a feeling of sus-
pense of the withheld announcement
of the plan of settlement of the
Wheeling & Lake Erie note maturity,
News of the settlement was expected
before noon but when a further post
ponement was announced to what
would be later han the closing of the
stock exchange, all disposition to OPP
crate in the market seemed to be lost.
The show Of strength in the Gould
group kept alive a supposition hat
the forthcoming news would be help
full of values. The %reticence of all per-
sons usually concerned in the negotia-
tions, however, and the variety of the
rumors in circulation as to the prob
able outcome indicated so much un-
certainty hat speculative operators
hesitatcd to commit themselves. Aside
from this special cause for a lull in
activity the trading seems to have en-
tered upon one of the usual periods
of hesitation and seeking for new
initiative. The cessation of the buy
ing of stocks which has resulted from
this stage Of the market was not fol
lowed today by any important selling
When a recession i'm prices occurred
the settings seemed to be suspended
entirely. Professional traders, how
ever. had a suspicion that any ad-
vance in prices was taken advantage
- =. Ife4r;h,,ta gtapEG The nnipt-
ness of the market was believed to
be in accord With the desires of i'm
portant financial interests who are
supposed to deprecate undue specu-
lative excitement at this season OF po-
litical activity and of developments
believed to be working out as well in
railroad affairs. Some influence to
wards repression of activity was caus-
ed by the published announcement by
the attorney general of the intention
of the president to push with renewed
vigor all cases pending against rail-
roads for granting rebates or Ike OF
lenses. Their is some apprehension
that this mood Of the government au-
thorities may affect the desire of the
railroads to advance freight rates for
which a benevolent view from the in
terstate commission was at
one time counted on. b copper
stocks showed considerable strength.
The further rise in the price OF the
metals helped this movement, the
opinions published by the leading IRON
and steel trade journals as to the
amount of the business of those indus
tries arc so conservative compared
with expressions heard in the region
Of the stock exchange that their week
" appearance has impressive infu-
ence on speculation.
call money continues in great
abundance but the time money mar
kot grows hrmcr. There were some
reports of damage to spring Wheat
from rust which had an effect on the
price of wheat and was an influence
an stocks. Last prices of stocks show
ed some declines from yesterday as a
rule but the fluctuations were SO con
slant and narrow as to leave little
significance in the days changes. Clos
ing stocks:
Amalgamated Coprer ........ 15%
American Car and FOUNDRY -. 80 q
do pfd .......
American Cotton Oil ......... 1874
Amer. Hide and Leather pfd 49,. 19%
American Ice Securities ....... 2S3s
American Linseed ........... 10
American Locomotive ........ 53&
do pfd l05
Amer. Smelling ana Refining S7B