The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-13
nTlU UOnIf nTnOU0
NV IUM SIUGkS
SLOW AND EASIER
Weak at the Opening, With
Moderate Declines-Sup-
port Develops.

NEW YORK. Nov. Is. 1880 I. MIN
mcdiately on the opening OF the market
the bears made a play TO test the
strength OF stocks and found that prices
gave way before them. fhe argument
"a" the bear side was commercial fail
ures, closing down Of textile mills, COLI
tinued tghness Of money. and the prop
II moment for a reaction.
Jhey were potent arguments ard the
reaction extended 10 about a point to
Two points throughout the list. The
Particular point at which the bears d.
rected their efforts was Amalgamated
Copper, with a certain amount or pres
sure on Shelter. They scored ON nearly
everything, however. but were brought
up with a round turn on their favOrlte
objective points when they uncovered
the fact that both Amalgauated Cop
per and Smelter were being protected
In the best kind of a way by inside sup
pert. and that The support was well or
ganized.
The opposition encountered by short
sellers made than a little cautious and
tfey did not press their advantage,
with usual 1ggresivenasS, with the re-
silt that the market became extremely
DUH. and, with recOFeries TO prices
Ihat were nearly equal 10 the close
On Tuesday. The stronger tone came
tate in the morning hours. and during
the noon our there was but the light
parativAly firm tone to the list.
Much interest in the discussion Of
the day conferred around the Smelter
dividends, but the assurance is given
mat there viii be no reduction In the
distribution. Southern Pacific ard
Union Pacific dividends are due in the
near future. and there is not the
slightest probability that there will be
any cutting in :heir direction. South
efn Pacific earned sufficient 20 leave
surplus applicable 10 dividends on
common stock, II desired, Of y per
cent, and Union Pacific-s great show
ing was sufficient TO leave a surplus
OF H. per cent for common stock
There will be no increase in the distrl-
button, but the regular dividends viii
De PAID without question,
The RecOveTies.
The recoveries brought some OF the
stocks TO the highest points of the day.
In this list were Copper and Smelling,
the former advancing from 455s to s6H.
or just where it closed yesterday
Smelter moved up from 60st to 627s. or 3.
net gain on Tuesdays clothing North
2fn Pacific also made Its highest quota
lion late in the moEking, after breaking
10 l0l3s' when It recovered 10 IOS7s.
Other Prices.
Atchison opened at =, sold to ~. and
back to p. Baltimore and Ohio lost u
act. Canadian Pacific. steady. around
t42114212. Delaware and Hudson orened
at $50 and sold to 129 Great Northern.
IA TO 1l3lzqu394, a net loss Of L. Mis-
souri, Pacific was y on Northern Pa
,ihc, firm New York Central, 1881 to
1914 to 1914. Pennsylvania opened at
Ios3s and dropped to 1851. from which
Il recovered one-half point. Reading
lost u net. although at one time It was
~ lower, st. Paul still weak. with but
little support. net loss s.
Steels comparatively steady al 24Sg tn
as for the common and S4IsIS4ss 10 san
for the preferred.
Bankers and commission merchants
are doing all they can to stop specuIa-
I'VE buying and they are succeeding
beautifully. The small investment buV-
ing continues TO be a factor of the
greatest Importance, as Il Is relieving
the market Of actual stock and putting
mllllonS into CiTCuia tioE.
p. MN the closing hours Of the
afternoon the market eased off about
'ne-haf point from the high. and re-
named very dun, but very steSdy right
up 10 the close The markCt is acting
Just as financial men would Ike to have
H. as any attempt to boom things wOuld
oe detrimental to the slow and steady
recovery in financial conditions.