Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-01-27
AND
COMMERCE
Wall Street.

New York. dan. 26.-The special in
fluence which governed the wide
movement in a handful of stocks to-
day we're conflicting in their effect on
the general list, or mora properly, had
n neutralizing effect which a~ggravat-
al the dullness of the trading. Deal
ings were at the point of stagnation
between the occasional spurts of mod
crate activity. The most influential
movement in its general effect. was
that in Consolidated Gas in which a
renewal of liquidation IA prompted
nv the publication of annual reports
and the pessimistic opinion expressed
in official u~tterances accompanying it
Of the earning power of the company
under the legal restriction to 50 per
cent Of the price of gas. The price
of the stock dropped precipitately
over nine points to a lower level than
was touched in the slump following
the decision of the supreme court
against the company. The desire to
await the appearance of the quarterly
report of the United States Steel cor
poration were a factor in the latter
dullness. 1t was known that this re-
0OIi NOulu hoL appear uutn dlltI llt
close of the stock market and the fact
hat it might contain some unpleas-
ant surprises made operators wary
about extending their commitments.
Railroad deal rumors showed vitality
and furnished the principal points of
strength in the market Chesapeake
& Ohio passed into the hands of the
interests which but lately marketed
successfully the control of the Colo
RADIO & Southern and negotiation vas
made with the banking house which
had taken over the Pennsylvania hold
ings Of this stock. It was inferred that
the Southern Line would not be dis
turbed by the new control while as
SYMPTOMS of more liberal policy in
the distribution of profits also helped
the advance in the stock. At the
same time the rumor of the coming
control of the Wabash by the Della
ware, Lackawanna & Western sprang
into new life and was effective in
lifting the preferred stock and the re-
funding bonds of the Wabash to a
higher level. Atchison made n favor
able response to the showing of in
creased net earnings for December
compared with Il year ago, dltnDuSn
the advance was achieved by rcduc-
ton of operating cost, the gain in
gross earnings proving insignificant
The weekly gross earnings of railroads
for January now coming to hand are
occasioning remark by reason of the
moderate betterment shown of Janu-
airy of last year, a month when the de-
preston of the railroad industry had
come into full effect. The feeling of
dissatisfaction over the rate of BUSH
ness recovery was voiced by the chair
man OF the st. Louis & San Francisco
executive committee with some effect
on speculative sentiment.
The resumption of dividends at a
five per cent rate BY the North Ameri-
can company would have melted to
some buying of stocks in a more ia
vorable state OF the speculative tenn
per.
As it was, it fell flat along with 9TH
er dcvclopmt~ 60 the cay. Money
continued to 'sicr in this mar
ket but Lon somewhat sem
sitlve to a suggestion of renewed in
quiry for gold there on behalf of Paris.
Foreign markets are uneasy over
the Balkan situation and there was a
balance of sales ovcr statistics of Lon
don account in New York. Closing
stocks:
Amalgamated Copper ...... 1855
American Car and Foundry -. 49A