The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-02-27
STOCKS VERY DULL.
some GAINS MADE
Nearly Everything Higher
Early, But Many of the
Gains Were Cut in
Two or Lost.

NEW YORK. Feb. 27.-Close-During
the last hour OF the session the absorb
ing dullness began TO tell on the mar
ket. Here and there the advances OF
the first part of the day were lost en-
tirely or cut in two, with perhaps the
single exception Of Sugar. this stock
holding firmly to the end and closing
a good point higher than yesterday.
Copper and Smelling, while going off
2, stiu held 4 of a point gain. North
ern Paclhs was y better and Great
Northern u lower than on Wednesday.
Union Pacific lost all gain and y net
additional. New York Central and
Pennsylvania were slightly of, net for
the day. The Steels retained most OF
their gain.
IT was only natural that the closing
should be soft. Never in the history Of
the New York Stock Exchange, that IS
since evolving from It's swaddiing
clothes, has there been less business or
more Indifference on the part Of the
public. Wall Street is in sacNcloth and
ashes.
The closing was better than room
traders had expected.
NEW YORK. Feb. 7.-Nooa.-With
everything against an upward move
lnent In prices, with railroad earnings
for January sure 20 be below the bad
showing OF DeCember-practcall sure
and with February anything but full Of
promise; with railroads urging their
employees to accept concessions in wages,
and with a Gould road in bankruptcy,
the abused. maligned and apparently
much-hated Stock Exchange had back
bone enough 20 mark up prices on Sc
Curities this morning. With scarcely a
bit Of lining visible on the horizon, and
with the gossip just as bearish as pos
sible. stocks moved up fractions all
along the line.
There were some evidences that rich
nalefactors" We're taking a hand in Civ
ing the market a little better tone, as
the strength was as unexpected as a
snoWstorm in August.
Market students detected Rockefeller
and Rogers brokers buying stocks here
and there throughout the room. picking
up Copper. Smelling and some rails.
The fact that Amalgamated Copper will
resume mining operations March 10. and
that the United States Treasury now
holds nearly a billion dollars Of gold
We're the strong points.
had no effect on other Gould properties,
perhaps for the reason that these stocks
have gone down much more than the
rest of the market during the last few
weeks.
AS a matter OF fact, the advances were
all within a narrow range. many not
amounting to more than q or y point
but in the face Of the extreme dullness
an Improvement OF any kind was worthy
Of comment
Yesterdays trades totaled about 25O,-
600 shares, representing neither invest
ment nor speculative buying other than
by room scalpers In and out, looking
eighths and quarter-point profits.
The gains 70 noon were = on Copper
and Smelling, 4 to = on Baltimore and
Ohio. Atchlson, Great Northern. Read
ing. and St Paul. Union Pacific was
q higher. and Sugar Ia up The SteeIs
were s better. Northern Pacific made
a %-pOint gain.
New York Central and Pennsylvania
took prominence as slightly lower. !.
10 Is.
Better Tone Holds.
1:15 p. m.-Tthe display Of strength
continued and small fractions were
o1NNN ~ INC auF1IACVS 0SOIc1 III the
first two hours Of the session, while
Pennsylvania and New York Central
actually recovered their declines and
small additional fractions.
Shorts showed a little nervousness
at the unexpected display OF strength
and covered a little more freely, but
the volume CT business was narrow and
TIE interest in the market decidedly
small.
In the bond market there was a good
demand for Inter-Met bonds. which
advanced a point, making six points
gain during the last week. The covering
OF shorts was inspired by the belief that
the McAdoO tunnel now in operation
would bring about a consolidation OF
the Hudson River and Inter-Met. The
same interests practically control and
the receivership OF the local traction
trust was brought about, according 10