Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-12-09
IT L Market 5.
NEW YORK STOCK MARkET.
Features Of the Days Dealings In All
Tho Leading Stocks.

New York. Dec. 2.-Prices OF stocks
moved upwards again TO-DAY WIN pel aua1
of Interruption and hesitation, Hnai
reaction wiping out much OF the gains.
The opening rise brought In a CONSIDER
able volume OF profit taking sales from
an element in the speculation whlcn mas
come to expect an alternating current III
the price movement from one day 10 an
other. The way in which the sales were
absorbed decided the later upward course
of the market. The renewed operations
on a large scale in United States steer
on rising scale also had an important
sentimental effect on the general tone.
The action of that stock was not ex-
planned by any news development, Out
the idea persists amongst PROFESSIONAL
SPECTATORS that the price Is destined 10
rise to par sometime before Christmas:
Since it's advance to "a rs on Oct. a. Steel
has risen above SO on three separate 0c-
casions and has then fallen PACK. On
Tuesday of last week it touched the low
est level since the "a rs quotation, selling
on that day at 81 is. Its advance to ~
IS today has been unusually rapid.
The buying of stocks was accompanied
bv professions of satisfaction with the
tone of the Presidents message was call
ed moderate and conservative ana as war
rantng expectation of circumspect treat
ment of the topics reserved for future
special messages, such as the proposed
amendment of the antitrust and inter-
state commerce laws. The feeling on the
subject was enhanced by the circulation
OF aQVlceS from w dSHiISlOI dIeSliS Lie
likelihood of the suppression, of attempts
at radical measures in Congress. The IN
terruption to the rising tendency or
prices was due to the acute weakness in
Third Avenue, which sold as low as II l.
as a result of the computation of the re-
turn to be had by payment of the propos-
ed assessment and the price of the new
securities fixed by nominal transactions
in the market. There was a show OF
strength in the soft coal carriers as a
| group unexplained except on the ground
of the small part taken by the stocks
| in previous advances. The advance, in
| fact. was spotty and was not compre-
! hensive at any time. Published reports OF
| the ripening of plans amongst railroad
| trainmen for a concerted demand upon
| the railroads for an advance in wages
after the first of the year were without
apparent effect at any point. The census
| bureaus figures on the amount of cot
ton ginned to Dec. were taken as having
a widespread interest outside the actual
cotton trade.
The rise in price of cotton to the highest
price of the season was considered ap-
propriate to the report and significant,
also, of the prevailing high level of prices
| in materials. A contrary tendency was
shown today by the price of copper, on
| of the few materials which has failed to
share in the almost universal rise in
prices. The Western Union quarterly re-
| port of earnings proved unsatisfactory to
| some holders of the stock and the reten-
| ton of the previous dividend rate SEEM
ed to bring some disappointment also. The
| fall in Amalgamated Copper was an in
| fiuence in the sharp reaction late in the
day.
Bonds were irregular Total sales, par
value, 49, 135, 900. United States As coupon
| declined IA per cent. on call.