Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-02-04
NEW YORK STOCK
AND BOND MARKET


INV work.. Feb. s.-The dull and heavy
.o,e ~ the stock market today was Que
largely to suspended interest on the part or
20 and investors alike. The weak
FL ~ tbo early part of the session was
1aarlv due 10 activity on the part OF
confessional element on the snort sac oil
The market, and this selling was party COY
rad nv repurchases before the end OF the
ston Reyond this demand from the I'M
o1ered short interest there was little sign
~ any absorptive power.
u rhe dissemination of rumors In rather
.o.,,ieas fashion was incident of the day
,.iah vas laid at the door of the bearish
.ti,ities Anonymous telephone messages
80 hank depositors to awaken their anxiety
ia prompt Withdrawals was feature III
on me into notice on Saturday ana promptso
some indignant discussion -
Tbe successful closing up last week OF
-. .,,,a11er banks seems to have suggested
this motive of attack, but the puplcatloh VI
thc matter reported TO-DAY TO nave
thad n of It's power for any harm.
Vary bold and damaging assertions were
,. Mated today concerning the nnances OF
tbe Rock Island and transverse hhes |"
,,asrv If the securities Of the company in
n,,,ding the stocks both of the parent ana
tbe subsidiary companies and the colateIa
bonds secured by old Rock Island STOCK AM
those secured by st. Louis and san IRAN
cisco stock. -, ...-o,,io, in
+he system were but slightly affected. OHi-
Gals Of the company and bankers assoclateu
In its financial operations ushieu thoN
vas any ground for the rumors OIL eIhoai
a-sr,ent The unsettled condition or the
securities, however. had depressing enece
on the whole list Tho financial erect OF
tbe Portuguese tragedy seemed to be con-
aned largely to the Paris bourse and had
little reflection here. ..oa,,s
There was in fact some purchase OF STOCKS
here for foreign account Ihere was ~
enough of this to prevent a sharp reaction
tn the foreign exchange market WIiish
onieted the discussion of possible carry
outward movement of gold. shipment ~
$500, 600 in gold to Argentina reporter az
n saturday was explained as speeiai
transaction. ,. - 40
A loss by the banks on Saturday OIL e.,
1oa O00 on subtreasury operations was causeu
nv a payment TO the government OF a M no,
turing note of the Central Pacihc IN tne
periodical settlement Of the ola faciho @.
road debt. Payment of SUBSCRIPTIONS Oh p,
Paul new stock called for $4,000, OOo. Ing
money market was not perceptibly aHeS'oo
Inv those in the developments.
Railroad traffic officials had no increase
in business to report, but some grown ~
bonefulness over early revival of traftic con-
ditions was discernble in their weekly views
given A decline in the price OF copper q.
The New York metal exchange and also III
the price of London copper warrants neio
hut lightly reflected in the prices OF copper
industrial and mining STOCKS Inc Oni. 'I
states Steel stocks also were relatively ht''e
affected by the general heavy tone.
The probable direction to be taken ny
political activities in the approaching presi.
Dental canvass claims growing snare OF
attention in the financial district and EN-
nhasfzes the indisposition toward large opef-
aliens IN tho market The bond market was
weak, the Rock Island collateral bonds
forming the conspicuous instance. Iotal
sales. par value, $2,7S5, O00 United States
bonds were unchanged on call.