The Washington times., 1907-12-31
NEW YORK STOCKS
WERE VERY DULL
Window Dressing S purt
Does Not Last and Point
Gains Are Turned
Into Losses.

NEW YORK. Dec 31-Closing-The
market became a little more active in the
closing hour, but weak and the declines
were extended to a good point on
many stocks and half point on others.
The market received a jolt on the
declaration Of the Anaconda dividend
the result OF the directors meeting be-
ing a reduction from 8 per cent basis
to per cent, or from H.25 quarterly
to 50 cents.
Shorts were the chief buyers. The
close was fitting for the last session
of 1907.
NEW YORK. Dec. al p. m.-For the
purpose Of window-dresslng." OF making
a show. the lighter WASTED element
undertook TO push prices up on the
closing day Of the desperately serious
year-l90. They expected that the i'm
pOrtant interests would give a SpeCtacu-
lar finish 10 the old year and bouBn
stocks on the opening with considerable
avidity. The result was "A rise in values
OF nearly full point on nearly all the
leading stocks and from y to q on many
OF the minor shares. Tne professional
element looked for Reading 10 touch
par as hitting finale 10 the manipula-
ton that has caused its sharp advance
from the low prices Of October. They
expect that when Reading crossed par
Nance-but they failed because Reading
did not reach par by several points
The banks failed 10 lend any aid 10 the
advancing movement, and when prices
improved the bears started to sell stocks.
which. with the slump in the demand.
turned the market from strength 70
weakness to the extent that the ad-
VanCes were lost by noon. and the list
then steadied at perhaps a fraction over
the final figures of Tuesday. The ten
denCy at this time was towB rd a lower
C.Osing, as the market entered a very
dull period, with scarcely anytnmg uv-
ing well into the first hour Of the
afternoon.
one OF the most careful observers OF
conditions, Mr.. Post, OF Post & Flag.
coming off from the exchange wired his
correspondents as follows:
"A careful canvass OF the situation
shows that the important men on
change are feeling very blue. Some OF
the light WASTED fellows believe that
the market should sell higher. at least
for the present"
A quiet closing today might be the
best thing possible for the market Win
dow dressing for the benefit Of the peO-
pie who may have dividends to re-invest
Is ali right in a way, but they might be
headed on and kept waiting for lower
prices before breaking in.
Comptroller Ridgely'S comment on the
situation was known on the Street and
II had some little effect. but not much
The loan crowd was moderately active
showing a ldlFly SoOQ outstanding SnOF
interest, the hope OF better prices
Entering the last half OF the frst hour
OF the afternoon the market became
practically dead" For seconds and
minutes there was scarcely anything do
ing in anything. and the most complete
inactivity prevailed. The bears pushed
their advantage a little and turned the
tide in their favor. breaking some Of the
list 20 the extent of a point, while Cop
per, the Steels. and a few Of the better
securities went off One-half point.
II was plainly evident that the feeling
was one Of uncertainty-tha IS per cent
money was a damper on the list, and
that any attempt 10 boom prices in an
O-be-jOyoUs movement would be abOr-
tive
The chances favor continuation OF
be that shorts will try 20 cover before
the close, in which event there may be
a rally. but no important changes are
looked for.