The Washington times., 1908-08-03
Decline of Saturday Extends
Into Today's Early
Trading.
PRICES IRREGULAR
THROUGH THE DAY
Efforts to Boost Particular Stocks
Meet With Large Volume
of Selling Orders.

NEW YORK. Aug. 3.-The stock mar
ket is weaker today The irreguIarity
and declines Of Saturday were carried
over into the early trading this morn
ing, and al the end of the first hour
prices generally had fallen about a
point from Saturdays close.
Canadian Pacific was the chief suf-
ferer, losing rs points on reports of a
strike by the machinists. Regarding
this, President Shaughnessy of the COM
pany said that If there Is TO be a strike
he knew nothing about it. Amalga-
mated Copper was a strong feature at
the opening, advancing "a points, while
Baltimore and Ohio and Missouri Pacific
rose s. Brooklyn Rapid Transit was
one of the exceptions TO the general
weakness, making a gain of y on the
buying movement that carried the prices
above So. But later it joined in the re-
action and lost part Of the advance.
: Union Pacific ranged around 155 from
a pood part Of the hour, but selling by
an aggressive house of large room
traders forced its price down to 1855.
. Reading yielded in about the same way,
and nearly all the railroad issues fol-
lowed this recession
AT the end Of the first hour the mar
ket was active. with prices irregular
and with Reading and Canadian Pacific
declining sharply. a new high record
was made for National Lead at =.
On the curb market the copper stocks
were the strong feature under leader
ship Of Cumberland Ely and Nevada
Consolidated. La Rose was active
around its high price. Goldheld shares
were heavy.
Cotton was slightly higher and wheat
advanced about 1 cent a bushel in
Chicago.
AS there was a holiday in London the
stock exchange there was closed.
Market Continues Dull.
After noon the market was fairly
steady, but in most instances stocks had
not gone above the opening prices.
Trading was in smaller volume than
last week, and efforts 10 boost partiCu-
lar stocks were met with a volume OF
selling orders that made it practically
impossible.
The street is considerably pertuTbed
over the persistency of the backward
movement. II has been held all along
that the market is in such strong
hands and plans for a further advance
so security laid that any baClIset in
prices would be only temporary. But
today, up TO midafternoon. the market
had not shown any decided indication
10 rise. but has hung duh and steady
at lower level than Saturday, which
was lower than preceding days.
All the bull arguments were trotted
out this morning, one after the other,
but there were no new ones, while the
bears were content with stating that
Mr. Hartman was away on his vacation
and the mainstay of the bull market
gone. The bulls answered this by in
sisting that Mr.. Hartman was in COM
munication with his lieutenants over the
long distance telephone three times
day, and knew exactly how the market
rs working.
= There is little in the situation in mid
afternoon TO indicate any strengthening
OF prices today, though that may hap
pen near the close
The market hung firmly at the level
of the opening to one point lower
through the afternoon. Canadian Pa
Cific. Pennsylvania, Reading, and Union
Pacific were the active stocks among
the railroads, and Copper shares and
Steels We're close followers. Brooklyn
Rapid Transit was also active to the
close.
The market, as a whole, is lower than
Saturday, and shows considerable
tstrength.