The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1903-01-13
TRADING ANIMATED,
WITH GOOD ADVANCES
IN THE FINANCIAL WORLD.

Manipulation is necessary to influence
q market whether the prices go up or
down. To attract attention a stock
must be made active. and while thou
sands of shares are dealt in daily with
ont the change of g point. the resultant
effect is to attract the attention of the
public to the particular stock which is
being manipulated. The tactics pursued
are Tor q broker. or a number of traders
acting under fixed policy. to buy AT a
certain price, selling at a quarter or half
point up. and then repurchase if the price
falls back to a lower point II they
succeed IN getting the movement started
they buy at the advance and so on until
they get their full line of stock This
has been done crudeIy in the past month
Il IS true the opportunities we're excel
lent for such manipulation. because
prices were at a low level. but the re
suit has been that the advance has been
too rapid without distributing the stock
among customers who are actual inves-
tors. However the market is not at its
highest point and prices hold up with
remarkable strength against all attempt ;
70 nut them down This strength Will
probably be potent until gold shall be
exported. and that period is rapidly an
preaching. Our imports instead Of de
cTeasing with the close OF the year are
swelling in volume. and thirty-day bills
VIII soon be coming due which viii cali
tor transportation to Europe Of gold.
Manhattan had a squirt this morning.
~hich was the beginning. 50 it is pre-
dicted, OF a phenomenal advance. Dur
ing the recent liquidation It has shown
surprising strength. and has receded but
little from its recent high record.
Atchison has recently displayed activ-
ity and great strength. Many rumors
were in circulation as 10 its anna Igama-
zion with Rock Island. and its purchase
ty Pennsylvania But these Fumors may
be dismissed SIS baseiess. The only state
ment entitled TO credit is the one made
by President Ripley. that the company
has no idea OF reminding the>S30. 000 OOO
serial debenture notes issued last year.
This statement in itself Is not bullish.
but back Of II all may be considered the
remarkable ability Of the road to main
tain its earnings
The features in the trading yesterday
were various speciaIties. among them
being Rubber Goods. United States Rub
Der. Chicago Union Traction. and United
States Realty, in all OF which notable
advances were made Buying of all OF
them was set down 10 the pools. and
little news developed. In the case Of
the rubber companies. il was report ed
that closer relations were contemplated
The Rubber Goods Company recently re-
ceived considerable amount of cash
which it was alleged had been tempo
rarily diverted. New York interests, II
is said. are CO. operating with Chicago
interests TO secure better transit faciIi-
ties in the latter city, which. If secured.
viii benefit the Union Traction Company
materially
Adyices from leading commission
houses are extremely bulIish, and pre-
diet a further advance Ia prices
There seems 10 be no relief to the
congestion OF traffic on railroads East
OF West Traffic managers are supply
ing only big shippers with grain cars
in the West and the uncertainty Of
shipment has had a depressing effect
upon the prices of wheat and corn.