Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-02-02
TheoMarkets.
NEW YORK STOCK MARKET.
Features of the Days Dealings In All
The Leading Stocks.

New York, Feb. 1.-The generally heavy
tone of today'S stock market was due 10
neglect as much as 10 any active seilhg
pressure. In few spots, however there
was evidence of belated liquidation. The
clearing up of undesirable conditions in
the market has been pushed with deter
mnation since the Rock Island scandal,
followed by the collapse of the Hooking
Coal pool. made blazing exhibition of
unsavory details calculated to do damage
to the prestige of the Stock Exchange:
Today's demonstration inVaued a new neId
and brought with IL some suggestion Of
| measures of resentment against the push
ing enterprise of a newer ngure in the
railroad world If such resentment can be
supposed to reside IN the minds of the
higher finance. The effect on the general
level of prices was not very marked but
the influence on the speculative tone was
against hopefulneSs. The days happen
ings were interpreted in contrary sense.
The most notable example of defiation
was in the 1nterborough-Metrop
| stocks There We're no immediate news
developments to explain their collapse
and it was attributed simply to previous
undue expansion. The whole of the local
| traction group suffered in sympathy.
Third Avenue sold at 104, the lowest price
in its history, feeling some direct effect
from the preparations for the foreclosure
sale.
The additional speculative purging, the
necessity for when was thus disclosed,
helps to account for the repression of the
speculation. Conjecture continued busy.
nevertheless, with attempts to fathom
the more general causes lying back of thu
heavy decline in prices. The idea that
business recession has set in enters into
the discussion although concrete exam
pies of evidence are few. The fall in
prices of iron is cited and the fact Of
some countermanding Of equipment
derS by the railroads. The agitation of
anti-corporation policies is said to have
spread its effect of depression from tn
stock market into general business to
some extent. The complaint is heard that
the large stocks of merchandise which
were laid in from first hands when the
revival set in after the depression are
moving with some difficulty at the high
prices which have been attained in many
lines Today's report of the growth Of
the European visible supply Of copper and
the falling off in our December exports of
he metal had their bearing on opinion
concerning the trade outlook
More gold was shipped from London to
Paris today, but the Paris situation was
less an influence. with the Improvement
of flood conditions there. London looks
for a reduction in the Bank of England
official discount rate, in spite of this de-
mand upon that money market. Money
worked easier again III New York
The Pennsylvania dividend was dsap-
pointing to a speculative party that had
looked for an increase. Colorado Fuel
suffered from the disaster to its mines
Strength of Japanese bonds was the re-
suit of the new domestic loan to be float
ed for efunding purposes
The final rally in prices was the sign
of relief afforded by the days liquidation
and left a struggling show of small net
gains.
Bonds We're easy Total sales. par val
Tie, s.. 1893 GO. United States bonds were
unchanged on call