The morning journal-courier., 1908-12-29
WALL STREET NOTES Pool Manipulation Bears Many Stocks-Violence Toward
 the Close.
WILD SPECULATION SEEN
Railway Earnlngs--Steel Common I'm, pervious to Tariif Biows-Atch-
 ison Statement.

ison Statement.
 Judging by the opening prices, 1t professional rinsleaders had been hold ing a market all by themselves on Christmas and on Saturday, and had had a private bull market to which they adjusted prices this morning Much of all this may have been due to accumulated buying orders by out side spectators, but much was also pure and simple With scarcely any recognized as pool manipulation, setback stocks continued tp advance from their opening high level and were firm early in the afternoon. The volume of business was considerably larger than on Thursday, with the standard issues the feature up to mid day Union Pacific by one o'clock had advanced 3 points to lS3 7-S, or within a point of the previous top price of tlfe mouth Southern Pacific was all most equally strong, while New York Central reached a new high price for the movements + was, as usual in the last hour after delivery hour was over-that the market became really violent There was no doubt of the purely professional character of the trading OF of the hysterical character which the speculation then assumed Talk on the stock exchange and around the tickers was chiefly of the slSo 100000 January disbursements. and of the inference, from Saturdays bank statement, that speculative operators will have no difficulty in having their loans financed by outside institutions, whatever happens to the Associated Bank reserves. These were not alto eether new arguments, but they served. It was pointed out that yester- days market much resembled except for the absence of tight money, the wild speculation of the closing week of 1s05
 The Southern railway for the third week of December had an increase in gross of S119,394, or about l2 per cent Canadian Pacific gained S174,oO0 Texas and Pacific, which has not been doing SD well lately. lost S9i27S Louisville and Nashville gained Sl3S.675, or near ly 20 per cent Missouri Pacific gained S164. GOO, Denver and Rio Grande $1S, 200. and international and Grea Northern s8i.00o The Southern rail- way for November was able to increase ne' oGoS,322 although losing $52OOO pl
 on the Metal Exchange, the price of copper was advanced 1-S per cent This is the first rise in the price since November e7 when it was raised to II 3-S cents bid
 From 5S 8-l Steel common declined to II 1-4 after Mir Carncgies tariff ar tielc was published Yesterday the Gtock had more than recovered half or ita loss In the enthusiasm of the times brokers ara predicting as high Q price as before. The question and effect of tariffs seemed to be tempor- arily sidcuacked
 .'rn'e5ma.e1 Copper was cXceed- ir@ly strong, uotWithstanding the gem c}al belief that the dividend will he continued on per cent basis The directors wilI meet the middle of Jan uary to take action.
 London bought only few stocks, hctuE mostly occupied with the first days work of the fortniehtly scttle- mcnt.
 X great many persons are being made happy by the rise in Central Leather common The pool in 1906 put if up to about SO. Wall street bought heavily lt has never been able since to get out with a profit
 Atchsou stock moved up sharply at midday on the publication of q remarkable November statement, showing an increase of $366154 in in net, by q reduction in operations and taxes. The stock was taken in blocks of 1,000 to 1000 shares each on a rising scale, and in the afternoon the price touched par, for the first lime since March l907
 Very heavy realizing sales broke the price of Brooklyn Rapid Transit stock two points carly in the afternoon, and other traction stocks yielded with it until the general biddng~up process of the last hour.
 CLOSING PRICES.
 Reported over private wires of Prince
 6 Whitoly. members of the New
 York and Boston Stock Exchanges
 New York office, 52 Broadway. and 10
 Center slls""j NrW llHrnn Conn
 New Haven Dec 2S, 1908. Adams Express Co. u.,,,. lSl 200 Amagamated Copper ,,.,. %ls St9s American Car Foundry Co., 5Ois 5O1a
 do pfd. ..,,,....,",,.." 1O9 1lo American Cotton oil ....." 4SH A
 do ptd ,,a.",,,,,,",.,, 92la 9b American Express Co. -,u 197 2l0 American Ice Securities %, 21 2114 American Linseed Go, .,., 14's l434