The Washington herald., 1908-06-24
MARKET NOT LIVELY
Advent of Summer Keeps
Brokers from Exchange.
PRICES OPEN AT LOW EBB
Rise and Fall Alternately I'm De-
spirited Fashion-St. Louis and san
Francisco Common and Preferred
Shares Down-Death of w. ID. Leeds
Has Effect on Rock Island.

New York. June 23-The desultory and
very irregular course pursued by the
stock market to-day was a seeming mix
ture Of indecision. apathy. and weariness
on the part Of spectators.
Yesterday the market was heavy and
weak throughout. To-day, although not
weak. it was plainly not characterized by
any high degree Of resiliency, and IL was
on the whole. a dragging affair. The un-
mistakable advent of summer Is causing
daily greater degree of absenteeism on
the floor of the stock exchange. where
general force. acting in the same direc-
tion as that connected with the usual
reign OF dullness at this season, and an
additional influence making for apathy is
the near approach of the Democratic ma
tional convention when the issues and
candidates framed by the two great po-
litical parties will finally be outlined and
set forth against each other.
The market opened to-day. II anything,
slightly under the range of prices last
made on Monday and rose and fell al
ternately thereafter in a rather dispirited
fashion, closing finally not far from
where II began. and view of the situa-
tlon not infrequently expressed was what
ever buying OF stocks was witnessed pro-
ceeded in great measure from spectators
for the fall, who enlarged their ventures
yesterday, and that these operators
seemed to get the stocks they wanted
without bidding for them any too
urgently.
Common and Preferred Down.
The particular pressure that was In
evidence yesterday upon all the Rock
Island stocks was removed to-day, al
though the St. Louis and san Francisco
first and second preferred shares de-
clined. Shortly after the opening of
business. the death was announced in
Paris OF Mr. William b. Leeds. well
known as one Of the original members
OF the famous Rock Island party" who,
with the money made by them out Of the
transfer Of tin plate and sheet steel prop
critics 10 the United States steel Corpora
ton purchased control Of the old Chi
cago. Rock Island. and Pacific Railway
Company and formed the present Rock
Island organization. There was at first
therefore, no supposition that the de-
preston in the Rock Island securities
yesterday was due % the knowledge OF
Mr.. Leeds approaching demise. Yet ir
banking circles. Il was said 70 be very
unlikely that this was the case, as Il
was believed that Mr. Leeds had Ions
since disposed Of his interests in Tho
Rock Island issues and that his estate
had also been for a considerable time ir
tha hands Of trustees The general Rocl
Island status at the moment continues
therefore. TO be something that is not Z
little unsettled in the mind Of the aver
age individual in the financial district.
Affected by Sherman's Illness.
At one time to-day the market wa.
admittedly affected TO some extent b,
the news Of the serious illness OF tn
Republican candidate for the Vice Presl
dency. and by the various complication
and contingencies that the event sug
gested.
The action OF the Interstate Commerc
Commission in ordering large cut Il
rates for the transportation OF lumbe
on the railroad lines in the Northwes
came in also for more or less pessimisti
discussion, while the general market wa
directly affected for the worse by a re
sumption Of the liquidation IN Chesa
peake and Ohio stock. which went o
yesterday. and this weakness probabl
was Of a sympathetic order in the Ney
York. Ontario and Western shares.
All that gossip had to offer in ex
plaration OF the drop in Chesapeake an
ohio was a rumor that a Western rail
road company had declined to exercis
an option in its possession for the pun
chase from a local banking concern Of
block OF Chesapeake and Ohio share.
giving practical control OF the company