Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-09-30
The Markets.
NEW YORK STOCK MARKET.
Features Of the Days Dealings in All
The Leading Stocks.

New York, Sept. 29.-The stock specu-
lation started a galop today but the
very early period of the days trading.
The rush to buy and bid up prices made
an excited opening which spread prices of
the speculative favorites on simultaneous
10000 shares in United States Steel and
10000 shares in Atchison. There were
wide openings also in other stocks ana
the top prices then made represented the
highest record in some instances. This
was true of United States Steel and At
Gibson and Chesapeake & Ohio topped
all previous prices in the course of the
day. The high opening in United States
mad been exceeded earlier in the day In
the London market. where the, stock sold
at the New York equivalent of 90s. The
realizing sales <'hich that price induced
in London were continued in New York
on scale downwards, and after the first
half hour this influential stock sold for the
most part below last nights price. The
first hours business saw an enormous
pressure OF realizing sales in all quarters
of the list and pause to take breath
was d necessary preliminary to a fresh
start. There were many conspicuous
points of strength in the later market
but it never regained its uniform upward
tendency again. While a few stocks We're
aSgressively advanced the rest of the list
held back and in some quarters there
were signs of positive depression. Erie
and the Wabash securities were two
prominent examples. The bond of SYM
pathy between these two stocks is sup
posed to be the hopes for the increased
productivity of the process that We're
founded on the interest manifested in
them by the late E. II. Hartman FL
nanclal assistance rendered to each OF
them by that financier in time of stress
was designated in the financial district
as rescue of the properties. The pres
ent weakness of the securities is trace
able to a fear that Mr.. Harriman's plans
Tor their benefit may not be carried out
or, at least, may lack his efficient aid
Supposed dividend prospects again play
ed an important part in the speculative
motive forces. 1t is expected that the
Atchison dividend meeting next week will
lead the way in the series of meetings
to which the speculation is looking for
ward. The resumption of dividends on
the Westinghouse Electric preferred stock
today after being suspended since 1907 was
the only tangible development in the di-
rection of increased disbursements of
profits. The call money market remained
tranquil in spite of the forces of de-
pletion of cash at work and the time
money market was notably easier in tone.
shipments continue to the South and
Southwest and the sub-treasury's sub
traction of cash from the banks for the
week rose today to $4,714.000 The pres
sure of the selling to realize increased as
the day proceeded and made the support
of prices increasingly difficult. The clos
| ing tone wac much unsettled. The num-
Der of shares sold was the largest tince
| the excited markets in April in coffee
| ton with the reported listing of United
States Steel on the Paris Bourse.
Bonds We're irregular. Total sales. par
value Sc, 3S1. 600 United States bonds Were
unchanged on call.