Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-06-05
ICE AMI
COM MERGE
wall street.

New York, June f-PoWcrful forces
obviously were ut work in the spccu-
lation in stocks today, the volume Of
the transactions and the size of the
Individual operations showing the use
IL the most abundant %csource such
Is are commanded only by specula
tive capital of the first magnatude,
4he example yesterday Of what
eauld be done in the case OF Southern
Pacific, brought the speculative che
mcnt To Wall street in troops today
It's first efforts We're directed TO the
stocks most directly affected by thu
southern Pacific movement yesterday
bit it ranged up and down the list
me viii during the day.
f was significant of enthusiasm Of
ibp speculative sentiment that ne de-
pressing effect was produced by the
weak tone Of United states steel
,yhich sold below Yesterdays CLOSING
nffao throughout the session. No
since May II has It happened befort
tapt United States steel failed to sci.
fieher every day than on the day be
fore. This continued advance in lni
ted states Steel has been the back
bone of the whole market during thai
fariad. It's reaction today was even
mada Il favorable argument for tn
advantage of the general market sir
au'ion.
Horizontally there were mo atloA
eff "a private settlement over night o
Il short interest alleged to amount *
10000 shares at a price considerably
above any yet touched by Unitet
s,ates Steel in the market.
In the preliminary burst Of thu
g.iy's speculation there We're wid'
openings in Southern Pacific, Cn!os
Pacific and Atchison. Besides tn
expected exchange Of Southern Pacific
preferred for common stock, there
figured ia the discussion a supposed
treaty of comfy among tie railroad
in that group. The Northern pa
rifia-iiuion Pacific agreement, tll'
Onion Pacific influence in Atchisoi
4na the reported Inclusion of st. Pau
.an- behalf of it's Pacific extension Wer'
Ho9nted out as confismatory facts.
lhis and the Atchison bond issues
we're offered as explanations for tn
,neer buying of those securities.
Bond f|lotations and the increase,
speculative activity have involved eN.
pansion Of loans, but foreign money
markets have continued TO place funds
hare. A sharp rise in the London
discount rate today might not be dis
connected with this process. CLOSING
stocks.
Atlis Chalmers pfd ........... 9l%
Amalgamated copper ......... Sc Is
American Agricultural ....... 44A
American Feet Sugar ........- SSA
American ii pfd .......... So
American car and Foundry. 5S9s
american cotton oil .......... 69A
American Hide and Leather pfd 42%
american Ice Securities ...... 31ls
American Linseed .,......... IS
American Locomotive ........ Goa
American Smelling and Rcfng. SO p
90 preferred ..........,+.ll5' =
American Sugar Refining ......l329 q
American Tel and Tel 1925
American Tobacco pfd ...... l02 .
American Wooden ,.,........ 80
Anaconda Mining Co. ......... d q
Atchison ... ....,.. ......' II :
do preferred 49,. 'lVo
Atlantic Coast Line .......... ~
baltimore and ohio ..ll9i Is
do preferred ............. "a
li-thlehem steel '''.. 81 "a
Brooklyn Rapid Transit 81 Is
canadian Paelhc ~ n
Central Leather ....'''. ~ =
do preferred ~ u
Ctpttal Of New Jersey 292
chesapeake and ohio ...'' - =
chicago and Alton ..........' 40 y
chicago Great Western AZ
chicago and Northwestern - 2
Chicago, Nil. and st. Paul '.'l2o9 Is
g., g., G. ana st. LOUIS '. -
colorado Fuel ana iron ' 49, q
colorado and southern LIST pfd 81 a
do End preferred ....'..'' so a
Consolidated Gas .. ........l44
Corn Products ......' 70 "
Delaware and Hudson ....lS Y
Denver and Rio Grande pfd bS%
Distilors Securities ... 40 3
ERIE 80 4
ito first preferred .......' % =
do second preferred .-.. AZ
General Electric ..l79
GREAT Northern pfd .......'l4 =
Great Northern ore cts ... % 3
Ihhpis central .......'.. las ~
AtftlHorOugn-Mtt .s.. ~ -