Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-12-15
The Markets.
NEW YORK STOCK MARk..T.
Features Of the Days DeaIinss IN All
The Leading Stocks.

New York, Dec 14.-The stock market
TO-DAY was still characterized by the wlde
movements In stocks not usually promi-
nent in the dealings The sudden awak-
ening into activity of these at advancing
prices was accompanied in some cases by
deal rumors and in other cases mad no
other apparent cause than the purpose OF
the market hackers to ADJUST me price
level to conform to earlier movements at
other points in the list. Many or these
movements carried with them a sugges-
ton or window dressing purposes IN prep
aratlon FOR the period OF the year Wheii
current market quotations appear In bal
ance sheets and annual reports to mark
the valuation of investments.
Here and there were slight signs OF re-
investment demand in anticipation or the
profits TO be available for use after the
first of the year. At other points We're
the effects of palpable efforts to stimu-
late the work Of this re-investment de-
mand which some times makes It's appear
ance at this time of year, winch has been
disappointingy scanty this year.; In the
bond market where it Is usually most
marked, 1T has made no impression at all,
the demand for demands continuing inert
up to this time Such signs of invest
ment buying as were seen today We're in
some of the high grade railroad stocks.
me speculative movement TO-DAY was
halting and irregular. The active strength
of the first hour seemed to be taken ad-
vantage of to effect some distribution of
stocks and the tone was dropping there
after. The action of Reading was of
large sympathetic effect in this result.
That stock, after early strength, sold off
on reports that the meeting of directors
to act on the dividend would be held to-
morrow. The rumors persisted of an in
tended increase at the time.
The speculation was less impressed with
so imminent prospect than with the
similar rumors of a projected increase in
the Southern Pacific dividend to be acted
on in January. Attention was attracted
Corporation will assign preferred stock
for subscription to employees this year in
pursuance of the prOfit-sharing plans, in
stead OF common stock, for which the
employees were allowed to subscribe at ~,
last January, with satisfactory results in
the years movement of the stock. There
is a feeling in stock market circles that
the tendency of the American Tobacco
case decision by the supreme court at
Washington will prove a drag on specula-
tive enthusiasm. Preparations for en-
forcing the corporation tax and the incl
dents of publicity involved in the process
are a cause of diSquiet to corporations.
Adroit use is being made in the specula-
of the so-called Guggenheim copper prop
critics. Official details were still lacking
today. Interest rates for 6O-day and six
months loans were lowered today, with in
creasing Offering and lessened demand.
Call loans again touched per cent, al
though heavy disbursements for tomor-
row, including the Standard Oil dividend
did not seem to affect the market.
Bonds were irregular. Total sales, par
value $3,522.00O. United States 2s adj
vanced uer cent on call.