Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-11-23
TheMarkets.
NEW YORK STOCK MARKET.
Features of the Days Dealings in All
The Leading Stocks.

Now York Nov 22.-The financial COM
munity was little prepared To-Day 70 mike
it's final apprasement OF the import 10
corporations Of the judicial decision
against the Standard Oil CO., as II was
in the short stock market session OF Sat
urday after the unexpected atihIultc-
ment Of the decision. The di5turbed zone
of the market lapse into dullncSS when
measures of support became effective
were sufficiently significant of the import :
ance attached to the decision ana the
wish TO await the final disposition 81 the
case before going forward 1t - n the
uncertainty thus involved that the prln-
cjpal harm is feared not only Tor Inc
speculative position in stocks but lor
business activity. 1t was for TINS reason
that all commentators were agreed on the
importance Of an early settlement OF the
appeal in the ease. The most hppefui
view of the situation from the stand
point of corporation Interests was dtdWfi
from an analogy with the case OF the
commodities clause Of the Hepburn law.
Dire harm was predicted from this pro-
vision in its, early stages and during me
progress OF the litigation - test II, but IN
its final conditional affirmation by thc
supreme the speculative spirit drew act
ual encouragement and made # the Pa
sis for some sensational rises IN 2fic"s'
especially in the group OF stocks m
mediatelv affected the coalers. ia
voriatr citation was the fact That Whil
the Northern Securities CO., was dissolved
by decree of the United states supreme
court, the merger alfled at by mat lOIHl-
alton exists in fact today. The active
discussion of the situation which has been
going on constantly amongst capitalists
and their legal cOunselors ever since the
news of the decision was received seems
to he bringing q concurrence in the view
that the drastic and sweeping cons -quenc-
es Of the law as Interpreted VII!
serve to demonstrate its absurdity and
bring about it's modification on repeal.
The first hour of todaN'S stock market
saw q contest StrenuOuSly WaGth bctWc"l
the conflicting elements in the SpccuIa-
ton. in which the balanc" was fairly
turred in favor of the reactionlsts, IN
support During this period of the day ;
operations well nigh half of the day :
total business was transacted. 1t is eVi-
dent. therefore. that the demand for
stocks followed the price recOVeries that
followed the first hour with some hesita-
ton The buying achieved its purpose
of checking the decline. diminished. tn"
copper stocks suffered particularly from
the ASSUMPTION that the new decision
would prevent the proposed consolidation
Of the principal producers. United states
Steel ana Union Pacific also reflected the
special bearing which the decision was
supposed to have on those companies.
Reading, on the other hand. was strong
throughout and formed the rallYinS point
for the opposition to the decline. Dis
counts eaSed abroad, but foreign eX-
change held firm here and more gold was
engaged for South America.
Bonds We're easy. Total sales, par value,
s., 262 600. United States bonds Were I'M
CHANGED on call