Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-01-13
:The Markets.
NEW YORK STOCK MARKET.
Features Of tho Days Dealings In All
Tho Leading Stocks.

New York, Jan. 12.-The manner In
which the stock market fiattened out to-
day when relieved from selling pressure
was hardly less discouraging TO specula.
tive sentiment than the active declines or
the two earlier days of the present week.
During the noon hour the safes OF STOCKS
We're less than 10000 shares, and 1t was
during that period of practical stagnat1on
that prices rested at about the top level
of the day. At the same time reports
from the loan crowd on the floor of the
Stock Exchange were of more active
demand for stocks for delivery than has
been witnessed for many weeks. rms cyl
dence of the substantial growth of the
short interest coupled with its tranquility
in face of the check to the downward
course of prices was regarded as omi-
nous. The lack of reSiliency in the mar
ket encouraged the renewal of operations
for the decline. which became precipi-
tate.
So far as the money market situation
has been deterrent the speculative oper-
improved today. After opening at 5 per
cent rates receded. thus lowering the
maximum rate of yesterday and of the
day before and establishing the lowest
new year. However. the conviction is
left that requirements to be met in the
money market outside of stock market
uses are so considerable that the sup
plies available for that use are likely to
be affected.
Speculative sentiment would be better
satisfied with signs of expanding mercan.
tile demands for money. The ref1uX of
funds from circulation is SO heavy at
present as to suggest rather lull IN
trade activity. The rapid fall in the price
of cotton was believed to make require
ments for additional margins which caus-
ed some pressure on the stock market.
News from Washington also served 5
a reminder of factors at work which ar .
regarded as unfavorable to the cause or
speculation The advances made by the
Union Pacific authorities to the law OF =
ficers of the government for possible
compromise of the suits under the anti
trust law convey an impression OF APP
prehension Of the outcome of those suits.
The taking up for cOnSulta ton the meas
ures proposed for preventing dealings Ill
futures in the commodities markets show
ed the persistence of the forces at work
in directions which are not relished by
active traders.
There was the same spirit of apprehen-
sion regarding the outcome of the meet
ing of the board of governors to be held
after the stock market closed, to act on
the report of the committee which inves-
tigated the Rock Island episode. There
has been no doubt of the part PLAYED by
this apprehension in important lquida-
ton that has been going on for many
days. How far the immediate action of
the committee might go to clear up the
of past influences was left entirely con-
jectural while the Stock Exchange was
still in session.
The midday rally in the market seemed
tive position. When it was seen that
buying was practically suspended at the
higher level of prices, selling was renewed
with great aggressiveness and the whole
list yielded weakly and closed at about
the logest prices of the day
Bonds were irregular. Total sales, par
value. So, 293.O 900. United States 2's declined
Is per cent. on call.