Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-05-11
The Markets.
NEW YORK STOCK MARKET.
Features Of the Days Dealings In All
The Leading Stocks.

Ne" York, May 10.--Tne shrnkage il
activity constituted the prime feature OF
the early stock market today during
which price movements were hating ant
irregular. The late bulge in prices was
CONFIDENT with It decline in wheat The
most plausible explanation of the change
in the early appearance of the market
was that supporting measures which
were adopted Yesterday and Saturday at
guard against the depressing effect ct
the death Of tn King of England were
desistcd from. In London it seems the
support Of The market yesterday partool,
In some measure. of Il patriotic demon
stration of confidence in the new sover-
eiEn as Il safeguard against any dant-
aging break in prices. these measures of
support evidently were not calld for to-
day. Having served their purpose there
was the customary inclination on the
part of buyers to dispose of the hold
luss acquired simply with til" purpose
of Opposing; = lin" in prices.
Immediate Influences from the London
market remained favorable to values to-
day. There WAS further easing of the
private discount i1i" and varied discus
Sion of prospects for II reduction H. the
of1ciai discount rate OF the Eank of
England The stock market settlement
revealed, in its pr"llmiHarirS an easier
rate for carrying over Americans. The
rubber share action If that market CON
timed somewhat disturbed The BRIT
ish trade return showing an increase for
April of $29.0U0.6j0 in the value Of rub
her imports Of April Of Il year ago was
n OIL h, ar Al.
foundation un which the I.ondon's rubber
speculation is based. The records of
American r"portS show similar strikin:.
growth n value of iubner imports for
which III" enormous expansion in Lu-
tomohilr manufactures is held RESPONSE
bic.
The movement among the ranger rail
road stocks reflected some divergence in
s"nti...ent over prospects for different
classes Of the wheat crop Railroads
through the winter wheat sections con-
tinued somewhat backward, while the
sprin" wheat grangors developed a strik-
ing upward movement in the latter part
or the day. Presumably the unusual
forwardness of the blowing and seeding
or that crop ard beneficial rains reported
today are responsible for this diStinC-
ton The weekly Bulletin of the weather
bureau lid not encourage hopes of rapid
progress in winter wheat from the un-
favorable weather conditions. tn,
weather in the cotton sections also was
not what was desired. The market for
copper metal m2de show of strength
bCth IN Lon iot and New York and there
weN reports IF some large sales eff set
ee here. The copper industries respond
go with rise in price which proved d
sustaining Influence in the general list
United States Steel did not share in tn,
benefit of this movement. the dealings
in that stock being at prices lower tina,
yesterdays closing for most of the day
There was a fresh crop of runors q,
dividend Increases and revival of oil,
ones touching Brooklyn Transit Chesa.
peake Il Ohio and Louisville & NashyilI,
prospects. Details were stu klckins
of sales abroad of American bonds OK
cept for the general announcement @
the placing Of a large part Of the Balti
more Il Ohio note issue in foreign mar
kets.
Bonds were firmerI Total sales pa