The Washington times., 1907-09-18
Gain of Early Hours Lost.

6aAA "a LAZY ANAA9 6VsNs
Tt was also to be expected that the
sharp gains made In the list yesterday
would bring some proht-taking. and
this. with other influences, caused reac-
tons until practically the entire gains Of
the earlier hour We're lost Another IN
fluence that operated against the contin-
uance of the upward tendency was the
evident softness In United States Steel,
both common and preferred.
Close observers of the situation saw
specialists making drives here and there
for the purpose OF getting out stock as
II is freely admitted that the short line
has BY no means covered The Hill
shares were not as strongly supported
as they were on Tuesday, but still they
held their own with fair tenacity and
yielded only fracuonaIly.
While there was not strength shown
yesterday, the weakness did not amount
10 anything like what a severe liQuida-
ton would have produced; indeed, very
many Of the stocks passed into the first
hour of the afternoon fully up 10 the
maj figures Of yesterday. Union Pa
cihc showed the best strength of the rail
list and held gain Of IS in the face of
Sagging values elsewhere.
Northern Pacific Recedes.
At one time Northern Pacific was a
full point higher, or to I34Ik. but il re-
Ceded TO 1925. and rallied 10 IS3. the last
figure One-half point lower than last
nights close. Great Northern also
gained a point, but lost the gain in the
reaction. and was 4 lower than at the
attracted fair share OF attention and
lost but fractiOnally in addition TO the
advance OF the morning hour.
ANA gamated Copper was wanted IN
the opening hour, scoring an advance
II = TO 62ls but dropped the advance
and an additional q Anaconda was
weak with considerable selling pressure,
tho noon price showing a net loss OF IA
steel common lost q gain and a
additional. The preferred was at one
time 8 higher. but lost the gain and =
o. point more.
Steady Liquidation After Noon.
p. m-Durins the afternoon there
was steady liquidation. and the bears,
scenting realization and assisted by re-
ports of a bad storm in the wheat ard
corn sections, pounded 3 the grangers
more or less severely. Shorts who had
covered on Tuesdays advance thought
that the time was OppOrtune for an
other turn and put out another line
Another unfavorable influence was the
return of weakness in pronounced form
10 the industrials. Il was reported that
The directors Of Amalgamated Copper
were not at all unit on the proposition
to reduce the output, but some OF the
leading officials were said 10 favor an
absolute smut down. The report stated
that an order 10 this effect had been
wired TO Butte.
Steel showed decided weakness. being
Influenced by a report that Western in
terests had Hquidated 10000 shares.
1t was also reported that the fall bust
ness of the American Locomotive Com
pany had mol. been Up 10 expectations
The declines at this hour had brought
Northern Pacific TO rs below Tuesday s
close. Great Northern lost all OF its
earlier gains, but no additional decline
followed. Pennsylvania was : raction-
ally lower. Reading was of g. Union
Pacific lost the advance Of the morning
and 4 additional. s.. Paul was about
point lower
Anaconda dropped to 5915 or nearly two
points Steel preferred was of IL from
yesterdays close. and nearly two points
from the nigh fthe morning. Smelt-
ing 21s of.