Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-01-26
The Markets.
NEW YORK STOCK MARKET.
Features Of the Days Dealings In All
The Leading Stocks.

New York, Jan. 25.-The drastic liquida-
ton which was renewed IN the STOCK mar
level since the crest of the speculative
wave was touched i'll August OF idst year,
consequently since early IN tne year i9os
in the course of rise WHICH began az that
period Declines over night ran between
and points in a. majority of the active
issues. with. however some conspicuous
exceptions. The exceptions were sug-
gested as being amongst slochhs WHERE e5-
fective liquidation has already occurred,
or which have been free from speculative
excuses during the past 1eW In3iitn Ms. IN
stances We're found in the hlil Paclncs
and in the Eastern trunk INES III Wiilch
stocks had been peI$istently marketed in
the period preceding, the present season
of urgent pressure. The specuiatlve
character of the holdings winch were pc
ing forced on the market was Indicated
by the distinction between those men,
toned and the exceedingly active specu-
lative stocks which were most severely
was aggravated where there had been
any previous evidence OF manipulation or
of active operations by market pools.
The burden of discussion III STOCK MARK
ct quarters was all of the danger from
threatened collections of corporations with
the law and with the actlvltles OF the
government authorities OF WasiinStoh'
The attention paid to the sup Me- IL, tne
aggravated the apprehension which began
to grow acute yesterday 1t was not I'M
til the statement on the subject mace by
President Taft was publlshed IN wall
Street that the pangs of the market We're
at all assuaged. 1t is true tnat by that
time the purging process had proceeded
to an extent that entitled the market TO
some relief from a normal feacuon.
There was much confusion OF cause ana
effect in the hurry burly Of the market
There was evidence, for instance. that
the banks were engaged in cleaning up
their credit accounts ana were ulscrlnl-
mating with severity against Such STOCKS
as justified suspicious of pool manlpuia-
ton. 49,,
had been the subject of manipulation.
Instances occurred today where attempts
to market small accounts or Such STOCKS
in compliance with the demands OF mon
ey lenders, failed to discover single DID
within many points of the nominal quo
tation which has been maintained for the
stock.
The overhauling of loan accounts by
the banks had it's incentive, in part from
the apprehensions aroused by the treat,
ment of corporations by the law. as well
as by the criticisms of the purely specu-
lative position in the market. President
Taft's expostulation with the presump-
lions INDUCED in by the stock market IN
terests of the purposes of the admlnlstra-
ton helped to cure some OF lne Tears
caused by the assertions of the past rev
DAYS of new and aggressive departures IN
contemplation but did not restore Garner
homes of a complacent mood towards the
transgressions of corporations under the
antitrust law ,..,
CONSIDERATION of the expected dividend
on United States Steel practically dropped
out of sight and the stock market closed
with prices near the lowest.
Bonds were weak. Total sales. par
vaIue 81. 1913 900 United States bonds were
unchanged on call