Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-01-14
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NEW YORK STOCK MARKET.
Features Of the Days Dealings in All
The Leading Stocks.

New York, Jan. 13.-There was further
Intermittent liquidation of stocks today
and some large blocks were thrown upon
the market in the periods while the sell
ing was active. The market was not
without evidence of support and rallied
with good show of resistance to the pres
seemed satisfied to have checked the fall
in prices and were not in aggressive mood
TO push an advantage against the short
interest The formal announcement to
the Stock Exchange Of the action taken
by the board of governors in suspendns
the members of Il prominent firm for OPP
Grafton in connection with the Rock Is
land episode on Dee. - last was accepted
as closing that incident and a sens of
belief was experienced on that account.
There appeared tn be some relief, also,
that the scope of the disciplinary meas
ures had not been wider and more severe.
The outcome of this case and changes an
nounced today in the officers of the Rock
Island Co. were held to offer explana
ton of some of the recent liquidation of
stocks or to confirm the impression of its
sources which have been felt for SOM
time. Disclaimers of the significance of
these events did not detract from their
mfluence on opinions. The assumption
seem &c, warranted that extensive transfer
of stock holdings had been under way
IN preparation for the changes which
have occurred.
4 notable feature of the days financial
development was the general but belated
relaxation in money markets In New
York the call loan markets showed grow
Ing abundance and there was an overflow
effect in the time loan department where
rates We're shaded under the offerings of
additional supplies Large sums are com
ing to this center from interior points
and heavy loans of banks are included in
each days Sub-treaSury operations with
corresponding gains to the cash reserves
of the banks. The extensive liquidation
which has occurred in the stock market
has contributed to increase the loanable
FUNDS of the banks and the cotton market
liquidation yields additional supplies. The
Influences of this on the speculative de-
mand for stocks proved moderate today
but the resources thus assured for COM
ing new capital issues made d reaSSuring
factor in the situation. The decrease of
S2G 600, 900 in the value of this country $
December exports of agricultural products
compared with December of the previous
year helps to explain the persistent
strength of the foreign exchange market.
although the enormous exports of cotton
in December of 1908 throw the comparison
out Of the normal. The foreign exchange
which was not fully maintained during
the day.
Publication of the text of the proposed
federal incorporation bill afforded mate
rial for discussion on the part of stock
operators and kept alive the topic of gov
ernmental Intervention in corporation af-
fairs. on which speculative sentiment is
sensitive.
The assertion Of support for prices gain
ed influence with the progress of the day
and there was less hesitation in the up
ward movement towards the last. Final
prices were higher generally than last
night.
Bonds were irregular. Total sales, par
value, S., 350,0CO. United States coupon As
declined ! per cent. on call