Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-05
AND
COMMERCE
Wall Street.

diiN~N ~ htNllNA
prices in the stock market have la
bored during the week was thrown
off to a large extent today and the
advance was resume with more APP
pcarancc of harmony than any move
ment has shown for many days. The
change in the temper of the market
was not explained by any striking
item Of news although there was
much discussion on the floor of the
stock exchange of the supposed con
tents of the forthcoming message of
President Roosevelt. The word was
passed around that the tone Of the
message was mild Inc that it con
tanned nothing calculated to cause
fright to the most timid Spectator.
1t was alleged also that the modiGca-
oion of the sherman antitrust law
would be advocated so as to provide
against it's application to other than
unreasonable organizations in re-
straint of trade and so open the way
to allow agreements among railroads
on rates. The action of the market
owed something to the relief afford
ed by the speculative liquidation all
ready affected and of which there was
evidence of a subsistence today. This
was notably true of United States
steel in which the selling has been
persistent throughout the week. The
freedom with which that stock ad-
vanced although to a moderate eX
tent, was of material affect in shap-
ing sentiment on the whole market.
Low priced stocks continued a promi-
nent feature and in some of these
the only reason advanced for volatile
upshoots was the activity of market
pools which had accumulated large
amount of chosen stocks and were
holding them out of the market for
higher prices. Manipulation to that
end was rather obvious in thu case Of
some of these stocks. The Gouil
group led by Wabash preferred was u
conspicuous feature of the dealings.
Great Northern preferred was he
leader of the high priced stocks. The
money market continues SITTER THAI
of late in reflection of the large de-
mands making upon banking supplies,
rates for call oan ranging higher
than since January when the money
market was but emerging from abnor-
NAL conditions following the panic
and the premium on currency was
but newly abolished. The speculation
seems entirely unapprehensive over
this development and confident, that
the interval will be easily bridged to
the period of disbursement of Janu-
airy interest and divided money.
Preparations were in progress today
for participation in the Panama canal
bond issue for which subscriptions to
an amount of $4,000, 600, are to be
opened tomorrow. The usual pre-
liminary estimates of the weeks cur
rcncy movement pointed t. 4 heavy
loss in cash by the bank .3rgcly oW-
ing to the government operations. but
including also shipments of gold to
Paris and to Canada. Closing stocks:
Amalgamated Copper ...... IS
American Car and Foundry e. 49,
do pfd. ....,.. ..'...lOt
American Cotton Oil ....... 42&
American Hide and Leath pfd... rs
American Ice Securities ...... 25 .
American Linseed .......... 16 ~
American Tel. and Tel. ....l29B
American Locomotive ...... 56%
do pfd, ...... .1O919
American Smelling and Ref. 92E
do pfd. .....lO6 4
American Sugar Refg. ...,....l32A
American Tobacco pfd. ........ "a
American Wooden g., ,........ 30&
Anaconda Mining Co. e. ...... 81
Atchison ........,.... 9Sh
do pfd. ..................lOls Is
Atlantic Coast Line .....-.lll
Baltimore and Ohio ..........l0S9 Is
DO pfd. e.. .....,...... "