The Washington times., 1908-03-06
TRADING LISTLESS
IN WALL STREET
Prices Rise Slightly, Only
to Sag Again.
Railroads and SHELTERS Lead
in Small Advance.

NEW YORK, March 6.-Closlng-Thc
stock market came logically 70 a hlgn
close. Slight setbacls in the early part
Of the day were wiped out and the en-
tire list stands from a stout fraction 10
two nolrts higher than the opening
Confidence in a better market is driving
out .hc political bogy, and the shorts
are this afternoon showing i'll concealed
nervousness.
with eight out OF every ten brokers
on the bear side. and with every item
of news exaggerated to undue proper
tons TO affect prices adversely, inc ilse
NJ Yesterday and today can hardly M
taken as the beginning Of Lull E'di
Est Yet the strength shown by inc
railroads. coppers, ana industriaIs Is
,,banorr@nal under the circumstance
Judged by all professional standards
the market ought TO be going down TO-
thar is the object Of visible man'p24a-
ZION hut in fact it is going W. and eA-
bfbitins strength which surprises every
BODY. -
IT,,idaDrIv the bears win start raid
narbans tomorrow, with a view TO ham
Iaering down prices, for they
srared. Upon that raid, when II CONES
will depend the future course Oh '-'7
market. $500 ,,-t+,,
St Paul was the leader today, WIZ
Atchison a close second. Inc lo''i'S'
had added two points at the cioS i go.
Union Pacific and Erie were e@e'' "f
one point from the opening
Among the Coppers AnalgaIilS'leu "''
very firm. .bs~e
in the pockets of the holders.
VIM vopK March 6.-The New
Yorl, market opened very lfreg l uiai,
within a narrow range OF the olo -,,-[9
,,g,4res of last night. The more actlN
stocks were about Is TO u hlshe'' W.
some Of the less active issues opened
below. ..to,,s
As was the case yesterday, operations
OH the floor were by proIesSloi''is' -
1, vas nearly an hour before matters
10 down 10 the routine of the day
,,-b.n. the inherent strength OF the sltua-
ton which cropped out IN Ihe 9'lo,-s
rise of Yesterday, sent prices up again,
The rise on the railroads siheI'els an
some of the industrials amounted 10
about a point.
Arnurd the noon hour the selling Oh
.r.orf account and the better trading
of The dav had spent itself and prices
,,@.,r 70 sag. several Of the more active
stocks receding TO about the quotations
- the opening. a good part of the
morning the oldest traders were con
Fusad over the situation, not knowing
which way the cat might jump
II has come to be the haDlt OF " al
street to Law every unfaYoraDle slIu1-
ton 20 political troubles, ana LOT nI on
ers 10 lash themselves INTO LlIS IN -
,,D,rDcinu the President and W ashlhs toA
C,,-arDnent Today, however lhtLS
,Iss an utter absence Of untaNoFaolS
uolitical news, and the market De-io We e.
IN irsr the same old way Ihe Ieai IL IL
Fr,5Ity is that the public IS not IN thS
--,o,lye+ exceDt in a small way, DuylhS
M chasn stocks and sailing them away
Fo- a big rise some time IN the AutulS'
This limits the amount OF stOchS az ali
sbla for manipulation by the TRADERS
80 a. the same puts them 10 the neces-
sifv of inventing some sort OF new
diversion every day TO make buslnSss,
This leaves the market 20 move Nl.li -
narrow limits. gives prices rom ueS S ~
day a whip-saw record ana spieaoS
gloom over Wall Street. -
Al noon the market Is dull and Iea-
r,I.e.ess. with small prospect OF any ma
terial rise during the afternoon
Market Grows Stronger.
Tx n. NAT this hour all the active
stocks have gained the advance Of the
early part of the day and are strong
one of tie most prominent broadway
houses advised its correspondent IN
Washington a. noon that IT was wise 70
keen off the short side Of the market.
The letter said that with seven-eighths
Of the brokers on the short side, the
market not only refused TO go down,
bllt was actually going no Ia the face
a. q concerted bear movement This
left only one course to pursue, which
was TO keep out or go 10 the long side.
This view of the market is from
notably conservative source, and the
operations OF the past few days bears
IL out.
AZ an indication Of the healthy tone
of the market the announcement of the
Western Maryland receivership had no
perceptible effect upon the prices, even
OF the other Gould lines.