The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-02-04
NEW YORK STOCKS
STRONG, BUT DULL
Fairly Good Gains, But No
Material Increase in
Business.

had been from the end Of the second
houf CT the morning. There was very
little trading, and for minutes the ticker
would not give out d sound. Prices
were steady and just about the same,
with the exception OF Steel preferred,
which was IS higher.
1t was one of the dullest days of the
new year-cne Of the slowest, most dis
agreeable days that Wall Street has
survived.
NEW YORK. Feb. 4-Noon.-Wau
Street took a more hopeful view OF life
and liberty today The pail of gloom
that settled over the old thoroughfare
on receipt Of the caustic and bitter re-
marks OF the National Executive. raised
a few feet. just about enough to permit
an Intermittent ray of sunshine. but not
enough TO make any particular change
in the disposition OF the dear public
toward the stock market. But the dom
inant theory was that the present range
Of prices is about as low as warranted
by the worst possible news. That con
ditions are not liable to get much worse.
but that the chances are largely in favor
of their becoming better with each
and every day. Whether Congress will
cent message is not known, nor will IL
be until such time as public opinion be-
gins TO work. Wall Street does not an
tcipate any curtailment Of its privileges
nor narrowing Of its facilities, save rs
the public is induced 10 let up, as a re-
suit Of the spread Of the anti-gamblIng
theory. \ few days of an active, strong
market. with steady advances, would
1wfr
chances are that the short interest has
been greatly exaggerated-that 1t is not
so large as reported and that stocks
VIII hover around present prices until
something occurs to change the trend
The Rock Island people took occasion
10 get back of their securities and when
the bears who had a merry day with
these stocks Yesterday, made an effort
10 cover they found the market any
Lhlng but well supplied with stock and
a sharp advance took place.
Ihen, too, the lndispOsltiOn Of the
Lear interests. or else their inability 10
push prices further of on such a dull
market as yesterdays. was a signal TO
the bulls of latent strength and they
pressed for a little advantage
Continued to Gain.
The recovery noted in the final deal
ings yesterday afternoon continued and
advances were made in many Of the
leaders. although the trading was more
centralized in a few active stocks than
II has been for some time. Reading
moved up from lO0s4 TO IG2; ST. Paul
added point, and Rock Island - but
these were exceptional gains. ST. PAM
advanced point, Southern Pacific. 4.
Union Pacific, Is, Northern Pacific and
AJhchlson. q. Great Northern was
barely steady. Copper, Smelling, and
Steels were s. and = higher
At the noon hour the market showed
good tone and just a fraction under
outside prices.
p m.-Durtug the first and second
hours OF tho afternoon there were some
slight Improvements on the morning
gains, but, as rule, the market was
very quiet and the professions were in
different TO It's fluctuations. MANY of
the usually heavy operators have done
nothing, some not even looking on. but
remaining IN their Offices where Tie
ticker tells its tale Of inactivity and
uncertainty