The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1909-07-08
STEEL COMMON
YIELDS ONE POINT
Union Pacific and Reading Pom
nent in Downward Movement-Lit-
tie Support From Any Quarter
NEW sORk sIroCks-ciose.

tie support From Any Quarter
NEW ,oRk s1roCks-Ciose.
Anal COP. 81 Ana. { * +. - ~ do
pref, III y; An Col. Oh. -. Am. lee
Am smell. IS "a Am sugar, i27 !. !.
iocI. Am. Wool. 81. Anass ~,
Az A'Se can lis ae 49,. o. cen s' leah g Z r.
{. y O.. $50 &. ~ ct W, / = G.. NJ. n
81. T.. lS4is G. X W, lS4A Col. l..
a L. iSs. Col Il 50. 80 Cons, Gas.
ID. Il r. G.. 49, Erie, 5shs DO 81 pref
SO a CT. Nor. pref. l5l = Ct. Nor. ore
eft, isi. III Cent. l5Oia Int Met. 10,
7lis |. x y. l4l NJ ~ y r. az Mo.
Pac.. 7Sss. Nat. Lead. s6i. y. y. &,
isi = y Y. .. a W, - No Pas
iiiA Press St q g. H. GGs. he 10 49, 81
Rep. l. X :, Slia Rock Isl. 30 y DO
I pref. Il = Sloss Shen, s3as 50. Pac..
1854 50 Ey.. Sl's 30 pref. 90.
4sa Twin Ctty II. T. l04l. Union
1 Pac,. 1873 a. L. ;. Rug. lst pref. IS, 4.
steel. SSr do pref ls5A y ttsh
West Mfg, s5% T.. ; bonds. los. Third
Ave ia. Texas, S3+
NEW YORK. July s-There YVES a
mixed tone in the trading in the first
10 minutes, With the majority or
stocks showing losses ranging from
small fractions 10 over one point but
strength was again displayed in a
number OF issues. including Southern
Pacific, Rock Island and Inter Met.
preferred There was some pressure
evident against Wabash preferred.
Reading and the Southern railwa y.
The industrials as a group showed
fractional declines
IL a. m Adownward movement
prevailed all through the list after the
first few minutes with the supply of
stocks coming partly fro mrealizing
sales and the putting out of short lines
by the professional element and out
side OF the exchange
There was little support from any
quarter around recently prevailing
prices and moderate pressure caused
many losses ranging around point.
Union Pacific and Readin gwere
prominent in this reGctionary move
ment. Steel yielded about point.
and other industrials were generally
sol dat moderate recessions.
Governments unchanged. other
bonds strong.
Noon-The market ruled quiet after
the first hour with disposition in evil
dence TO wait for the publication ~
the government crop report before
making any further commitments on
either side OF the market. Southern
Pacific eased OF a substantial frac-
ton around midday while nearly
everything else in which there had
been active trading remained prac-
tically unchanged.
D. nl-The action OF the market
after the publication OF the govern
ment crop report was disappointing to
the interests committed 10 the bull
side, stocks being offered al conces-
sions and little demand appearing
from the important sources usually
I looked 70 10 direct market movements
NEW YORK STOCK LETTER.
Reported for The Times by Carson.
Craig * Co. a swelling tide In Sc
/ curity prices OF which the preliminary
indications have been visible for sew
/ eral days past, carried the leading ran :
road stocks yesterday 10 a lower fever
/ by only a small fraction than the hiSh-
est OF the year The average quotation
\ OF the industrial stocks was still some
what although not greatly below the
Z year NNSN. he hlH tHI0tiAf " bAAt ~
/ turn OF the market r. obvious 10 ha
bitual observers on conditions here. X
is usually. although by no means In
, variable the fact. that when reaction
In values has occurred and the market
after remaining quiet FOR time again
( moves beyond its previous hish point
a range considerably higher than this
lis reached before another downward
! movement Of Importance IL witnessed
( The market having dlgested It's al
vance. has gathered momentum Tor a
new spring forward. IL IN plain enough
in the present Gaze of what the new
momentum that has been acquired con-
sists II is made UP OF general crop
prospect this year IN these hlteu
/ states OF exceeding brilliance- IL Is. OF
course To be remembered that all OF
: these promises are as yet merely ZEN
ttative Disasters OF one KIND or an
I other may come later TO affect the
/ crops and the harvcsts are never sale
I until they are actually gathered New
ertheless the speculative security mar
ket does not wait for positive assur
auce regarding these things. especiall ,
when money Is easy. Winter wheat rs
ALREADY almost entirely harvested As
the days pass and frequent showers
! fall upOn the western country, dodlns
10 the ample supply OF moisture ALREADY
/ stored there the chances OF injury 70
fhe corn crop from possible not winds
materially lessons The same - SUP
stantially true OF spring wheat ane
other important grains and the specu-
! latiVe tendency under such clrculh-
| stances Is unavoidable
Reported for The Times BY Hayden
stone AZ Co. I16-lls GrIswoId-st