Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-20
AND
COMMERCE

Wall Street.
New York, Dec. 19-There was 6
subsistence of the severe selling pres.
sures in the stock market stoday ant
support seemed to be effective in
sustaining prices. The demand die
not prove aggressive and was back
ward in following any considerable
advance in prices and the list awaken
ed sharply at the end. The publica-
ton OF a reassuring statement from
the president OF the American SmeIt-
ing and Refining company seemed to
check the liquidation in that stock and
its recovery relieved the market from
a source of sympathetic weakness.
There was a conspicuous rise in the
Colorado Il Southern securities en-
bracing the stocks and bonds. the lat
ter making even more marked ad-
vance than the stocks. This Is one Of
the minor railroad properties which
has figured most often lately in ru-
mors pointing to absorption into one
of the other of the large railroad sys-
tens. The working out of a project to
cover the carrying trade from the
northwest to the Gulf of Mexico is in
Dictated in this project as we'll as in
others involving other railroads be-
tween those regions which have also
figured in similar rumOrs. The pur-
chase of the property in the interest
of the Chicago, Burlington & Quincy
was practically confirmed during the
day. Foreign operators in American
stocks We're inclined to look for a
bad effect from the expected weak
bank statement II they sold stocks
in this market, helping to the early
tone of unsettlement. The American
Railway association committee report
another increase in the total of sur
plus cars for the half month ending
December . amounting to 1924.
bringing the total to 1858 up to
the highest figure touched since Sep
tember .. The very general distribu-
ton of the increase in idle equipment
in all sections Of the country gave an
un~favorable idea of the prograss of
the railroad traffic. The bank state
ment, in it's details. is an Illuminating
exhibit of the effect of a rise in money
rates on deposit with New York clear
ing house banks ON which they pay
two per cent in other banks and trust
AOlllpdlllO6s IIN itNutliOl VI bNtl
SIG, 600, 600 in the cash holdings of
the clearing house banks which caused
the advance in money rates has been
accompanied by a reduction of $23,
1917, 300 in the loan aperages and IN
$4S,11l,50O in the actual loans and
that in a week that has seen an UNI
usually large amount of important
new financing and charging demand
for banking credits. Closing stocks:
Amalgamated Copper ........ 7S&
American Car M Foundry 49,. 45%
do pfd e.
American Cotton Oil ......... 41R
American Hide and Leather pfd. 34A
American Ice Securities .. .... 23&
American Linseed -. ......... IA
American Locomotive =. ...... 54R
do pfd
American Smelling and Ref -. 1873
do pfd .................lOO12
American Sugar Refining ......127
American Tel. and Tel. . .-..127S
American Tobacco, pfd, ....... 81
American Wooden . . ......... 2S
Anaconda Mining Co. . ........ AK
Atchlson 80 p
do pfd. . $50. y
Atlantic Coast Line :. ........106
Baltimore and Ohio . .1OSh
do pfd 81 %
Brooklyn Rapid Transit ...... 5Sh
Canadian Pacific -. E ........175
Central Leather E. .......... 29H
do pfd 80 s
Central of n. j. ......222 @228
Chesapeake and Ohio . 1900. IS
Chicago Great Western ........ II
Chicago and Northwestern ....1751&
Chicago, Mil. and st. Paul ....147
c., c., c. and st. louis ........ So
Colorado Fuel and Iron ...... 37i&
Colorado and Southern =. ..... 3S
do list pfd. 75A I
do End pfd. . ............ I2&
consolidated Gas -. ,.........lG2
Corn Products e. ........... lGA !
Delaware and Hudson e. Ills !
Denver and Rio Grande ...... 80
do nfd SOR :