| OCR Text |
Show CONSOLIDATED GAS 1 STILL DEPRESSING J j 1 i general List Stands for a While, j ma! 1 1 1 But Drops Under Realiz-. &1M ing Sales. HAS BAD EFFECT ON I SPECULATIVE CONFIDENCE 3 I Traders Evidently Fear Pros-'1 Pros-'1 1 pective Activity of Govern- I meiit Against Corporations. w NEW YORK, .Tan. 5. The professional h IK view of the weakness that developed In ' A fl tlio stock market today v.ks that It was ? if largely due to the sympathetic effect of ) If the collapse In Consolidated Gas. which J H- proceeded today only less violently than 5 lf yesterday. Tho period of preat wcak- ft ness In Consolidated Gas todav, how's how-'s H cvci" v,'as while tho general list was v ill nnkinp a sturdy stand asalnst the re- jl action and was showing a degree of jiosl- S tivft strength in some quarters. X The action of the market warranted " IT the implication that tho support was in 1 Ft the ini crest of facllitatinp a process of ? liquidation, and the pursuit of this pur-jj pur-jj If pose had the later effect .of weakening , ! I the wholo list. The unexpected adverse ; j decision in the Consolidated Gas suit yes-. yes-. If terday undoubtedly look the interests ' In committed on the lonp side unawares ' III and luterferied with the plan of conduct M n of their market campaign. . 0 The. consensus or opinion has been that 1(1 tho period of renewed ease in the moncv . " ill market after the turn of the year would BlIU facilitate a revival of speculative activitv an' conduce to still higher prices for JIS stocks. The money market is rapidlv 9n growing easier. The Consolidated Gas decision undoubtedlv had a bad ef-?.' ef-?.' feet on the speculative confidence en-ufi en-ufi gendered by the assumption that gov-' gov-' v ernmental activity would move in future ' In favor of tho corporations. Tho refusal of the supreme court to rntertain the government s appeal to re-- re-- ja open the Standard Oil fine decision was f vStafclustrlouEly cited to offset the effect of l- '. tnc gas case, but its ofioct was marred 1 j by the announcement from the attorncy-I attorncy-I .1 general's office that the suit would bo ' i i retried. The disappointment in the gas : suit hns.ylven rise to some tlmidltv re-' re-' 1 gardlng the outcome of other suits In . ' I i which a favorable outcome has been as- .sunied with effect In the stock mar-. mar-. . j: Vt This is notably the case regarding I i the suit to contest the Hepburn law's j commodity clause. :H, ' j This was seen in the suggestion today 1 that congress might he looked to to an-gti an-gti f nul this clause if it were upheld by the 5 I J supreme court. . ! The uneasiness over the subject of gov-' gov-' : ! eminent aggrossion upon corporations .' V ijvas shown by tho manner in which varl-' varl-' lrT'us I"f'donts bearing on the subject were 'A dwelt upon. ,- 1 s The adoption by the United States scn- nlc of a resolution calling for Information Informa-tion of an alleged opinion" by the attor- I ney-general sanctioning the purchase of 1 j the Tennessee Coal and Iron company by ! the United Statea Steel corporation was I , thus dwelt upon. So was a report that 9 a secret investigation of meat packing pack-ing hou?es had been resumed. i fco was the taking of oral testimony in ; i the governments suit to dissolve tho Harrimnn railroad merger. The new i pliORe taken by the Balkan question had ro I) a disturbing effect on foreign markets it n"d was reflected to some extent here. t Some of tho liquidation of the day was i , t attributed to holders of Consolidated CtHE, who wore unwilling to sell It and 1 had to find resources to protect It. Amer-an Amer-an I Jean Smelting, almost alone of the gen-i gen-i ral list, showed any strength, and an ers j advance In the price of copper was given cv. l soms responsibility for this. . I Bondn were Irregular. Total sales, par CX- 1 value. J5.filC.00n. I t United StateH bonds were unchanged '. oa call, asaj New York Bonds. rr3 U S ref 2s rcg.103 do 4Js 502 . do coupon 103 do 2m! series. 00 f 1 1 do 3s ng 1033 L. & N unl Is.. 100 J ' i S do coupon ...l"3?Manh r g Is ..08 -I -JB do 4s reg ...1191 Cex Cent A? 87 do coupon ...1201 do 1st hie 255 -'Mi m?,r Tobac 4s. 7S M & S I, 4s.... S3? 3L I do 6s 107 M K Sz T Is.... 08J Stif -Uc'i gen is ...1101 do 2nds S7 do adjust Is-. 0331 NRR of U c Is. S02 do cv Is ...1033IX Y C gen 3:s.. 03J V-V do cv 5s 10RS .V J C gen 5s...l27 3l M r M Coast L Is.. ?r.i N V Is 102i 3vAVv tO Is 1004 do 3s i34 Wifcdp-ffi'.s 03i N & W con Is.. 00 aSaSrokR T cv 4s S3 O K L rfdg Is 9U rn ;af'ent of Ga 5s ..10SI Penn cv ."is lOlo 04, At f) do Ifct inc 7S do con 4s 1041 AH $j Jio 2nd Inc... 61 Reading gen 4s. 100 'I m tin 3rd Mnc". o5 Ren of Cuba rs..l02 H 'Iks & O 4is .1043 S L .t I M c 58.1113 08 Hq,,, & Alton 31s 75 S Ij & S F fg 4s Sh W c d : Q n 4s.. 07SlS L b west c Is- S TZTS ITvI & PUR Is. 7J;Se?.b Air U Is. 67 M do col 5s .... SS ,S P 4s PU im do rfdg Is .. 0031 do 1st 4s 95i M CCC. & SL g 4s. 07i Southern Ry 5s.l06i ' tlWolo Ind 5s . ... 721 Tex - I'ac lsts.118 Colo Mid 4b ... SO IT S Ij & W 1h.. S3J COS 'olo & South Is 973iU P Is 102i5 . Del .t H cv 4s.l02i do cv 4s 104 . M D & It H 4s OS J 17 S Steel 2d ns.103 15rle pr IIpii Is SS i Wabash Ists ..113 m do gen Is .... 71 Western Md 4s. 325 f& Hock Val 4is...l05 W &. , E Is-.-. S2 Ml hit-Met lis ... 70S Wis Cent Is. . S!'3 ST. 4s S7J b Shore is 1U31 Ooj : Now York Money. gi" ST.W VORK. Jan. 5. Close: Prlmo m .A"'?rcQtiille paper. 33 to I per cent. 4 & Sterling exchange. Irregular, with ac-mta ac-mta I (lla' 1-uslhess In bankers' bills at 4.81.00 ,lO I for sixty-day bills und at 4.8G.oo for ' I demand I Mexican dollars. 45r. eX I Govermiient bonds steady; railroad , E 1'oiiUb Irregular. . . . , PrL I Money on call steady; highest, 21: low- l C3t, 2. , , 'nrk f Hullng rate. 2i: last loan. 25; closing Wi" Lid, 2i; offored at 2i per cent. AttAH t Tllne loans easy: sixty and ninety days, I 22 to 3 per cent; six months, 3i to 31 per ji cent. |
