Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-04-27
The Markets.
NEW YORK STOCK MARKET.
Features of the Days Dealings in All
The Leading Stocks.

New York, April 26-Symptoms of Ian
Suor appeared in the speculation in stocks
today and a disposition was manifest
to harvest accrued profits rather than
to undertake renewed commitments. The
selling pressure became pronounced when
the market developed any show of
strength, but it was not pushed at the
severe cost of values until the last half
hour of the day. This condition of affairs
caused Il heavy undertone rather than
pronounced weakness Stocks were fed
out freely during the first hour to take
advantage of whatever new demand had
come into the market over the end of the
week. This demand was not notable and
prices early succumbed to the influence
of the selling. The market position SEEM
ed to be responsible for the accession of
caution on the part of operators for the
advance. A furry in the call money mar
ket is considered amongst the possibilities
for thhe present week in connection with
the preparations for the monthly settle
ments to be financed. The eXigencies of
lenders are not expected to be severe and
any marked rise in interest rates would
ments to the money market from interior
sources. There is a fear that even a
slight hardening of money rates might
diSlodge some vulnerable market holdings
of stocks of the less substantial class.
The remarkable price advances in many
of these have been patent to all eyes.
only by the willingness of bankers to pass
without objection collateral in loans
which would be objected to in periods of
a normal money market. Last week al
ready a closer scrutiny was being eXer
csed of collateral in loans and borrowers
were notified by the bankers to reduce
the percentage of the more doubtful
class of securities figuring in loans. The
shifting of loans thus brought about is
in itself a disturbing process. The same
influence at work in the bond mar
ket to reduce the volume of transactions
in that department and to inpart a heavy
tone to that class of securities also. The
few of the favorite trading stocks, not
ably Reading. Fluctuations in that stock
were violent until it became known that
the supreme court decision on the com
modities clause of the Hepburn law was
not to be handed down today. Less at
wards. London turned seller in this mar
ket. prompted. it was said. by the APP
proach of the half-monthly settlement
of the London Stock Exchange.
There were traces of anxiety in some
OF the forei"n markets oyer tho still
unsettled state of affairs in Turkey. The
renewed absorption of gold by Paris was
illustrated in the taking Of s5O0o.OoO in
London for that account. News bearing
on the coming wheat crop was regarded
as favorable. but the further break. in
the wheat market lacked it's stimuatin"
effect on stocks. Time loans We're quoted
a fraction higher TODAY for all noatnritieS
per cent. Catherine distrust over til"
selling of stocks which apueared on all
favorable onnortlInitieS lend to a general
throwing over of speculative accounts in
the late dealings and to the weak clos
ing.
Bonds were heavy. Total sales par
value. 81. So 600 United states bonds were
r1ap fn1