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

New York, Dec. 31.-The closing day of
the year in the stock market reflected an
expectant tone of good things to come
with the opening of the new year. rather
than the direct operation Of present ia
vorable influences in the trading. jan
uary will see the largest sum disbursed in
rrntitS that has ever occurred In sim
liar period in New York. Preparation for
making these payments and placing of
loans ON the stock exchange to carry over
until Monday kept the call money market
stiff today at a minimum of 8 per cent.
and exercised restraining influence on
market activity. Higher rates We're will
ingly paid by holders Of stocks. rather
than sacrifice their holdings, 50 confident
was the belief that money rates are to
relax and demand for securities revive
with the turn of the year. This was an in
fuence on foreign markets as we'll as here
ana discount rates receded SHARPLY IN
rates commanded for call loans in these
markets in connection with the settle
ments. There was Il halt in the fan in
foreign exchange rates here. but the be-
lief remained that New York borers are
making successful appeal again for Brit
ish funds and Will be supplied with
abundant resources for what may be
available in the stock market in Jan
uary.
The stock market of the day was char
acteriZed by the great number of separate
securities which were dealt in, many long
dormant stocks appearing on the tape.
The position to clear up many accounts
with the end of the year accounted partly
for this. A process of price adjustments
also was in progress with view to fur
niShng a basis for book and balance
sheet valuations
Outside of the miscellaneous stocks, the
most conspicuous feature of the list was
Southern Pacific. Talk of d probable in
crease in the dividend on this stock in
February was made very prominent in the
days market proceedings. 1t was man.
ifest that the sustaining force of its
strength was being taken advantage OF TO
press other stocks in it's class for sale.
Rock Island made another advance and
the filing of the report of the Investigate
ing committee of the furry in that STOCK
last Monday made it the subject of com
ment 1t was believed that a way would
be found to proclaim that the Rock ISL
and episode was as diStasteful to the
sentiment of the Stock Exchange element
itself as to the public at large. Specua-
tive opinion attaches some Importance 10
the expression and formulation of this
sentiment for the assurance it may carry
to the uubic at large The resumption
of the rise in Rock Island today and a
parallel movement in Wabash revived the
rumors of a project affecting the two
properties in common.
Besides the generally cheerful forward
strengthening effect on the speculation
was caused by the backward survey OF
the achievement of the past year. The
enormous regeneration effected during
that period according to every trustWor-
thy index and the feeling of confidence
in the substantial character of that pro-
gress and in it's soundness as point of
departure for additional advance made
strong undertone for the stock mar
ket. Quiet confidence rather than jubi-
liant enthusiasm was the dominant note.
The expected relaxation in the money
market is not looked for Immediately next
week. The slender surplus disclosed by
the actual figures of the bank statement
after the close of the market goes to
justify this view.
Bonds were irregular. Total sales, par
value, $6.1S9,000. United States rs have
declined ] per cent. in the bid price on
cal! since last week