Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-12-31
he Markets,
NEW YORK STOCK MARKET.
Features Of the Days Dealings in All
The Leading Stocks.

New York. Dec. 3O-The drawing of the
towards it's close was marked py cnaiacs
eristic developments in flnanclai MARKERS
ed disbursements of inland dividend pay
ments in January went forward more act
lively today and the restrictlon OF money
supplies which resrlted in the STOCK Inark-
ct Kept operations there under restraint.
Tie per cent. rate touched Tor can
loans marked ia new high rate Tor the
present year. comparing with me per
cent. maximum on SeVeral FORMER occa,
sions. The comparison, If carried beyond
the present year. marks very moderate
degree of Stringency for the season. Last
December, when 4! per cent. was reach
ed for call loans, the country was Just
emerging from it's period of industrial and
financial depression and demand Tor COM
mercial credits was at a minimum. Az
the other extreme was the 10 per cent.
rate of December, 1905, when speculation
in the stock market was rampant NOT
only is the present condition one or conf
parative ease, but a SuppoSlt1on Is foStef-
ed that marked relaxation is to occur
after the turn of the year. The course OF
discount rates in foreign money markets
and the weakness of the foreign exchange
market as we'll as the easy tone OF the
time money market give color to this sup
position.
In the cheerful spirit prevailing in the
stock market today there was a dispo-
sition to make favorable Interpretation
| even of the active money market Inc
| idence of large profits to be distributed
| and the large bond issues in prospect are
| looked upon as signs of the opportunities
| for productive enterprise Suggestions of
chances for dividend increases are sufii-
GENTLY numerous to keep alive this con-
| fdence. The resumption of dividends on
Pittsburg Coal preferred after suspension
since 1908 was the case in point today, al
though that stock dropped back from the
| extreme advances which has occurred IN
| anticipation.
Further returns of railroad earnings for
November continued the favorable show
| ing of the net return for that period.
The tightness of the money market con-
duced to the special favor shown towards
! low priced stocks, owing to smaller am
| cunts required to carry blocks of those
securities with commission houses. Inis
| class of securities was stimulated also by
| the special demand in evidence for the
| Wabash group, which carried an impress
sion of determined accumulation and kept
alive conjectures of special developments
| in progress regarding these properties.
There was a certain amount of realiZ-
| ing going on in stocks in which past spec
| ulation has been active and this kept the
price movement irregular.
Bonds We're firm. Total sales: par val
ne. 1927 ,Oo0s. United States As coupon
| advanced per cent. on call.
| New York. Dec 3O-A brief session of
| the governors of the Stock Exchange was
| held today to receive the report of the
| committee of three appointed to inquire
| into the circumstances attending the pur-
| chaSes and sales of Rock Island common
Monday morning, when the stock advanc-
ed from 505A to 81, and as suddenly reced-
ed again. The committees findings were
submitted to the governors and the sub
| iect matter of the report will be acted
upon by the governing committee Jan II,
| 1910
of the Crock island incident will be ac-
| COMMANDED by disciplinary measures.