Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-01-07
FINANCE AND
COMMERCE
Wall Street.

New - ~ a -" IL ~ AH''
ln, mad apparently disposed Of the
disturbing effect Of the collapse in
consolidated Gas before the days ses-
sim at the stock exchange had pro-
cneded far. n'his factor bad no more
than lost its influence when a drop in
New york Central interveaed to give
e2ash start to the nerves of the
sneculative holders of stocks. The re-
action in New York Central was bas-
ed like that in Consolidated Gas. on
previous excessive speculation al
though not carried to such length as
had been hat in the gas stock nor
was the news which caused the spec
ulators to feel misgivihgs so definite
or so abrupt as that offered by the
supreme court decision in the gas case.
The ~unfavorable influence on New
York Centrals price emanated from
the board room of the directors of
the company. whore the action in Sc
Letting w. {. Brown. president of the
railroad, was Interpreted as belving
the position that Il. H.. Hartman was
to assume an active place on the di-
itALVAN dA0 ioN q ildl VI MS OWL
choice in the management of the sys-
tenn. Control of New York Central is
about the latest of a large number of
new activities in the railroad world
which have been assigned to Mi.
Hartman in a constant succession
ever since last April when that gen
tleman rescued the Erie" by coming
forward to pitch a block of hat com
pany's notes necessary to meet a de-
fault on a maturing obligation and
save a recefvership. The conjectures
over the course of the plans of the
group of powerful capitalists repre-
scented by Mr.. Hartman have been
busy at all points of the prolonged
speculation hat has been in progress
since thai time. The inference drawn
from the result of the New York Cen
tral decision on a president that the
latest and most conspicuous of these
cCnjectures was mistaken was not rel
ished by the speculative contingent.
Heavy speculative liquidation was re-
newed when the break in New York
Central occurred.
The Colorado and Southern stocks
were the center of a demonstration on
the strength of rumors concerning the
terms to be offered to holders of the
preferred stoeks by the alleged intei-
lion Of the Chicago, Burlington and
quincy authorities. The whole market
was quite impressively strong at one
period but prices quickly melted away
with the renewal of liquidation late in
the dav. New York Central, which
closed last night at 12s sold up to
129% in the morning. broke to 1928
and closed at 1875 IL Closing STOCKS:
Amalgamated Copper -,s.,,. 50
Amer. Car and Foundry $780,. 4S%
do pfd ....... ......l0f " Civ
Amer. Cotton Oil .......,... -
Amer. Hide and Leather pfd ... SEA
Amer. Ice Securities ......... 2l~
Amer. Tel. and Tel .........1261 y
Amer. Locomotive ........ 56A
do pfd ............-.llO@ll2
Amer. smelt. and Refng ..... S47s
do pfd .......... ....'lVS 2
Amer. Sugar Refng .......,.127
Amer. Tobacco pfd .......... ~
Amer. Wooden ............. 29Fs
Anaconda Mining Co ........ 49%
Atchison =. .'.'loV
do pfd
Atlantic Coast Line ...........1OSB
Baltimore and Ohio ....... ..ll0h
do pfd 81
Brooklyn Rapid Transit ...... 70h
Canadian Pacific ......-......175ss
Central Leather ......,..... 81
do pfd IL
Central of New Jersey .230
Chesapeake and Ohio ........ 55%
Chicago Great Western ....... 10h