The Washington times., 1907-12-11
NEW YORK STOCKS
CLOSE FAIRLY FIRM
Early Trading Attended by
WeakneSS-RallieS Do
Not Extend to Minor
Shares.

NEW YORK, Dec. 1-8 p. m.-The
hnal closing Of the market was much
better than its action during the earlier
part Of the day The support i'm Copper
and Smelter was pronounced enough TO
stop the selling OF these stocks and TO
cause net advance of 5zd1 point Some
OF the inactive securities were down sal
point, while the leaders were nearly
all well up to yesterdays final figures
or slightly better
Delaware and Hudson was off .s.
Pennsylvania 2s, New York Central ~,
and Peoples Gas Is. The usual Western
Union dividend was declared, but pay
able In stock. This means practically
cut Of "A per cent.
Great Northern topped IL again, a
gain Of Us. Northern Pacific was = bet
IS. Missouri Pacific and Reading and
Union Pacific strong
Sugar was of nearly points
HEW YORK. Dec. 1l-NOon-It was
case of stubborn. but unsuccessful
is too high to encourage bull operations.
ana the passage and cutting of dlvi-
uendS has also been a factor IN creating
some uneaSinesS. CnQuestIOnably there
Is a gathering together oE money right
now for the general payment OF INFER
est and dividends due January I. Many
ebNl llidllltS nave the necessary tunaS IN
hand. Others will probably pass or CUT
and these Influences are not for upward
turns in the market
Il is shown by statistics that I'm the
last few months a distribution OF Sll.-
o00oC0 in The aggregate has been cut
Ou-tle result Of passed and divided
dividends. That millions more will be
a0-led 10 this list is next 10 certainty.
and IL means much 10 men who have
been depending on investments for their
livelihood.
Money was stiT around 20 per cent
The talk OF currency payments IS the
surance that the premium viii disap-
pear. Railroad earnings are just hold
Ing fair.
Short sellers have been busy in the
market, but not cOuinlng their attention
To any one stock. Yesterday the high
priced shares were their favOrites. To-
day they took chances with stocks less
strongly supported.
The result was a break Of about q
point on the average throughout the
list. with perhaps the greatest strength
in the, stocks that were bear favoftes
yesterday.
Negotiations regarding the liquidation
Of the Mercantile National Bank caused
a sharp decline. as II is understood that
such a process Will lead TO offerings Of
much stock
Sugar was again the weallinE. goinc
off two points Reading and Union
Pacific were also soft. Delaware and
tlree-lOurtls TO one point. except the
Steels. Hill shares, and Copper and
Smelter. There was fair support under
Copper. necessitated by the poor condi-
tions prevailing I'm the local market
London was quiet and easier. CSpe-
Ci7lly on metal stocks being influenced
by the demOralizcd condition Of the
metal trade.
After the break OF the first hour there
was not very much trading There were
slight recOveries, occasiOned by prOfI
taking, this being one Of the principal
occupation of ShOrts-takng PROFITS
and putting out new lines.
Weak in Afternoon.
Between noon and the middle of the
second hour the market remained de-
ridedly slow and here and there soft.
while the support that vas given Cop
per and Smoltes actually forced these
prices above the closing figures Of yes
terday. There was not very much
trading, the general list holding a shade
firmer than the mornings g prices. St
Paul proved one of She exceptions Of
the day, holding a slight Improvement
well into the afternoon.
Distillerg and Sugar were the weak
spots Of the industridls. while the rail-
ways were gradually nearly p lower.
Cor slderinE the bear news ana the evil
1ent feeling that financial troubles are
Dy no means over. the market was By
DO means a bad one.