Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1912-01-25
NEW YORK STOCK MARKET.
Features of the Days Dealings in All
the Leading Stocks.

New York. jan. 2l-There were midi
cations, today. that the stock market was
taking account OF depressing influences
which have been obtruding themselves
recently. a characteristic of the market
of late has been the placid manner m
which il has ignored Developments that
al other times might have upset values
Movements have been narrow. with the
undertone generally steady. in the face
of disappointing trade returns and dis
tuTbiugs political conditions. Although
there We're a number of unfaVorable oc-
curreuces, yesterday, prices held steady
but. today. the list WAS percepubly lower.
Although speculative opinion apparently
was somewhat more bearish IN keeping
with the recent trend Of events. price
movements We're too narrow, and trading
was too light TO Indicate declaed
change in position Speculation is at low
ebb and seemingly awaits some new and
tangible influences of direct bearing upon
security values to spur il into life. From
day to day the market has grown duller,
and today trading frequently came 10 It
standstill. After steady opening Inc
fist sold off with the most decided weak
ness among the Hill issues and some Of
the coalerS. Prices Stiffened on short
covering, Just before the close, 50 that
net changes among the active stocks
were insignificant except for the losses of
the coal and Hill shares.
United States Steel was tTfrdef pressure
much of the time and It's heaYiness made
it the center of speculative interest. Much
OF the beariSh news of the months has
had to do with the steel industry, and the
weekly trade reviews were OF the same
tenor They pointed to a falling OIL IN
buying of steel and iron products. The
lack of demand for rails continues to be
the disappointing feature of the steel
market, which shows Il reaction from the
heavy buying Of December.
The boom in the Hill stocks was
stopped short by the statement OF james
g. Hin that no move was afoot for the
ACQUISITION of an interest in Denver &
| Rio Grande by the Hill interests.
The report that Western Paeifie; Willeh
| is under control of Denver d Rio Grande
would in this way become virtually q
| part of the Hill system and that various
| other changes in the railroad map of The
| West were pending. has been responsible,
| for the speculative buying of Western
| stocks recently. Miss Hills denial was
| followed by a drop of two points III Gfea'
| Northern pfd. and half as much IN North
| erm Pacific
| ST Paul was inactive. although thai
| issue is the object of unusual Interest
| since the question of reducing or mann
| tanning its dividend rate is TO be passed
| upon. tomorrow. The dizziness OF tht
| market. today, was attributed m part u
| the fact that traders were awaiting Tux
| outcome of the ST Paul meeting
| Bonds We're irregular, with heaVInes
| in Intcrborough- Metropolitan AS and thu
| Wabash and United States Steel issues
| On the other hand, higher prices Wert
| established for. the Tobacco. Rock Islant
| and Denver & Rio Grande liens. TradinG
| in bonds continued to be on large scale
Total sales. par value. $60oo,o COO United
| States 2s coupon advanced and Pan
| anna SIS coupon is on call