Daily Kennebec journal., 1910-04-15
The Markets.
NEW YORK STOCK MARKET.
Features Of the Days Dealings In All
The Leading Stocks.

New York. April 15.-Tbef stock market
today gave further evidence of the or
dered and systematized proceedings of
the large operative forces which are sup
posed to be responsible for the advance
of the day before. Stocks which were
strongest yesterday were subjected to =
process of prott-taking at different times
today to take advantage of the new de
mand attracted from outside sources by
the demonstration of yesterday. The new
demand was reported to be considerable
as shown by the buying orders received
| by the commission houses 1t was those
orders, matched by the selling orders to
realize from yesterdays buyers, which
gave the market its appearance of an
animation during the first hour. The
| narrowness Of the price movement dur
ing that time was a noticeable feature
for the same reason
The markets greatest show of strength
developed in new quarters as its usual
pursuance of a planned speculative cam
paign. in order to give an appearance
of variety to the dealings and to extend
| support to the general list to facilitate
the prOfit-tdking. The aggressive meas
ureS employed for carrying on the move
ment and the proof given in their scope
| of the possession of large resources gave
confidence to Il speculative following ana
inundated the professional opposition.
| trhe retreat of the opposition by the Gov
ering of shorts was a material factor in
the strength shown by the market
There was not much specific news to
account for the action of the market
but current discussion about the Stock
Exchange dwet largely on general con-
siderations. Crop news was considered
encouraging, and the decline in grain and
cotton prices emphasized this view.
The weekly statement of the Bank of
England pointed to a decrease in the de
mand from that source upon New York
gold holdings. Besides the gain in bull
lion holdings. the weeks repaymentS to
the hank amount to over $23.o0ooo0. and
in addition $5,7So,o0o of American gold
went into the bank today, with further
large sums ailoat for the same destina-
ton The March foreign statement of
the bureau of statistics called renewed
attention, however. to the abnormal CON
dltlonS existing. The record imports to
the value of $l62 955, ,o76, established an eX-
cess value of imports for that month of
Sl9,zo46l3. compared with an excess value
81 exports in March Of last year of $6,-
IT has been on Thursday each recurring
week for a long time past that the stool
market has begun to show the depressing
eHect Tor the approach of decision DAY
III the supreme court. That influence
was decisively removed by Mondays ac-
tion OF the court in reasSignng for ar
sument the American Tobacco and
atandard siam Oil cases. 1t is this change in
lne situation which received most atten-
tlon IN stock market circles as supply
ING the favorable basis for the specu-
iatiVe movement which has been inau-
gurated
Ine Two flll stocks were strengthened
by lntmations of coming financing which
It was believed. might involve subscrip-
ton rights to stockholders of value
There was a report that the price Of
Lake copper had been advanced by an in
terest which made a sharp cut earlier
IN the week. Dividend increases were
the subject of rumors about United States
steel; Pennsylvania and other stocks The
Plttsburg coal mining agreement was
regarded with satisfaction. There was a |
oellef prevalent that a comprehenci,a !
advance in freight rates was in CON
temptation by the railroads as comnen-
sation for the rising wages of EMPLOYEES
BONDS were frmer. Total sales mar