The Washington herald., 1908-08-25
DAY DULL IN TRADE
Monday Furnishes Low Rec
ord for Wall Street.
SOME ACTIVITY AT OPENING
stockholders Who Were Frightened
by the Objectionable NaniPuIa-
gan Selling, but Market soon Hard
ened-NO Features During Day

New York, Aug. 24-The unexpected
happened to-day, when the market pre-
seured normal appearance. in marked
contrast TO the Wild activity and feverish
fluctuations which characterized Satur-
days session f-.F
The volume q business was smaller
than the average. and. while ,he course
of prices was NOT as regular as IS or
dinariIy the case on such q duh day.
there was no very large fluctuations, and
orders 10 buy or sell stocks "at the
market" could be executed without
greatly changing the prevailing quota
tons.
A. the opening. prices Of nearly all the
active stocks were lower than Saturday :
close. the heaviest decline being in
Northern Pacific. which was OF Is points,
while Analgamated Copper opened down
a point. and Reading. with only q small
loss il the first quotation. showed q de-
cline Of ia points az the end Of a few
minutes.
american Smelling and Refining made
2 substantial gain al the start. but lost
strength late in the day. and Union Pa
ciAc and Southern Pacific were among
the strongest stocks on the list through
out the session. the latter being especial
u strong in the last hour.
Small stock Selling
Only q comparatively small amount Of
stock was sold by holders. who took q
fright over the highly Objectionable
manipulation resorreE TO on Saturday. and
the most notable feature Of the market
was the absence Of selling pressure. not
withstandi1g that most brokers were in
clined 10 advise their customers 10 avoid
p commitments on the bull side for th5
present such selling orders as came
from frightened holders OF stocks wer,
executed In the first hour and thereafter
the market hardened. but with bushes.
on very small scale. until in the las
hour there was an Improvement il tht
acuvity and the tone Of strength. man.
stocks recovering nearly all their earle
losses. and the Hartman issues closing a
gains On the day
Great Northern and Northern Pacih,
did not rally wen. and AualEamare
Copper was rather conspicuous in IN
same way.
The inactivity during the greater par
Of the session may have been due 20 rh'
k1owledse that the governing c0mmitCa'
Of the stock exchange intended TO hol.
meeting after the close OF the uarke
10 discuss Saturdays extraordinary oper
atoms. but this meeting when held. di,
rot 90 into the matter further than q
decide upon the Appointment Of com
--i-ree u investigate That the iuTesri
cation VIII be thorough is certain
The onenSe was great. for had IT heel
the desire Of those responsible fo- Ssrlr
days eXuraordinary scenes To cast dis
credit upon the stock exchange. who's
integrity is the highest in the world.
better way c5uId hardly have been founI
OF accomplishing that purpose.
Dull Day for Grain.
The dealings IN grain were reIariveI
nearly as light as those in stocks. an
the price movements were not important
Cotton made a new low record for th
present movement early IN The day. hu
sfrerward recovered part Of its declin
on the ground that the fall in prices ha
discounted the reduction Of time at
number OF New England mills and n
possibility Of a lockout IN the EngIis
spinning trade
Announcement was made Of The faiIur
Of Buffalo firm having membershi
in the New York Stock Exchange. b-
tle failure was not important. and ha
I'D relation 10 The recent scenes IN -r