The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-10-15
NEW YORK STOCKS
VERY IRREGULAR
Opening Strong With Weak
ness Later and Another
Advance.

NEW YORK. Oct. 15-Noon-The first
two hours OF the day were attended with
considt rable activity. $4,000 shares Of
stock being sold In the last hour Of
the morning the market became less
active, but with a much steadier tone
than during the earlier part OF the ses-
sion. That there should be something
of a reaction from the high point Of the
DAY was nothing more than natural
after the sharp advances of yesterday.
but the manner In which the reactionary
decline was checked midway in the sec
onc hour showed that there was a de-
cidedly better tone TO the situation and
one that the bears are likely to sit I'D
and take notice OF.
The news of .he day was not of
character to cause particular change.
one way or the other. The street does
not care about the Hartman Fish
sluabbIe one way or the other. although
interested In the outcome of the election
and Illinois Central meeting held In
Chicago today. London indicated a lit
tie easier tone to the money market.
with plenty Of bills Of foreign exchange
drawn IN Paris and London offered at
sixty days. which would seem to indI-
cate IL at London may buy Wall Streets
paper.
American stocks IN London were nerv-
Gus. but at g. slight gain over yesterdays
closing.
Some OF the most careful observers did
not hesitate TO say that they felt that
stocks, other than industrials, were good
for gains. They have observed what
they think is inside support in many
stocks Moreover, the liquidation has
wiped out most OF the smally marglned
stock, and in this has clearihed the
situation.
1t Is noticeable that the crowds in
brokers' offices have materially in
creased, and that some public buying
IS evidsnced.
Immediately after the opening there
We're sharp advances throughout the
list, Some orders and more short COW
Vering were responsible for the gains
that were carried to the extent of y
10 q OF point, and IN some instances
nearly 9 full point above Mondays hnal
figures
For a time the strength continued, and
then there was a sharp reaction. with
a complete loss OF the advances and
additional declines. running over a point
from the high OF the morning. and frac-
uonally below the closing last night.
Stronger Again.
Entering the thir4 hour OF the morn
Ing. the pressure became less marked
ana the nervousness Of the shorts was
shown by their desire to take the small
FISTS offered by the declines. The re-
suit was that within the next half hour
tIt recoYeries had more than made up
me declines. and that the market was
tNen slow and steady at slightly above
yesterday's closing.
Irregular Range.
Union Pacific, after 4 advance TO 12oIk.
declined TO 1855. and then. tourning, raj
lied to 1888. Southern Pacific advanced
to IS, or TO 74k and back to 70. ST.
Paul, 115 to 115' to 115S to 1l5H. Read
Ing, IS TO SIS. 10 SIX to $50 Northern
Pacific 12014 to 1205s to 11S9s. and back to
1877 Pennsylvania, III TO 1171h to 1851
TO ll6&+- New York Central at noon was
- higher
Steel common was q higher to steady
with the gain lost Steel preferred was
higher to u lower to barely STEADY.
Copper did not make radical change
either way, although irregular with the
rest Of the market.