The Washington times., 1908-07-17
Opening Firm, ProHt-Tak-
ing Causes a De-
cline.
SECURITIES RISE
SOME TO NEW LEVEL
Consolidated Gas and BROOKLYN
Rapid Transit Among the Lead
ers, With Gould Railroads.

NEW YORK. July 1.-THE stock mar
ket today is but continuation OF what
occurred yesterday. Prices are irregu-
lar. trading In restricted volume and
great uncertainty exists in the minds of
brokers whether the better business out
look. Increased earnings Of corporations
and the more hopeful feeling in COM
mercial circles has not been more than
discounted in the gradual rise the stock
market has had since the present up
ward movement began. II is this UNI
certainty largely which has given the
market yesterday ana today its ragged
appearance when prices are compared
and the general list taken into account.
Stocks opened irregular this morning
with declines and advances about even
" distributed Following the opening
some Improvement in quotations was
noticed. but at the end of ten minutes
prOiit taking made its appearance with
the result that gains were wiped out
aud replaced with losses. At the end
or the first half hour losses recorded
We're half , point in Reading: Il point
Ia st. Paul and Northern Pacific; Is
each il Union Pacific, Anaconda, and
An.aigamated; and 8 in Shelters. Spe-
CialteS were active and strong at adj
NanCing quotations. National Lead. pre-
ferred, rose II points. and Consolidated
Gas, Ia. American Car and Foundry
showed a gain Of y point. PETERBOROUGH
heIipuoIJan preferred, attracted at
Uent1on because of IFS weakness, de-
Ginning rs points.
Prices Have Quick Recovery.
Toward the end OF the first hocr the
leaders with Union Pacific al the bead
recovered their losses and showed
slight gains.
The interesting feature this morning
was the strength in all the Gould is
sues, and in stocks Of reads in what
was called the old Could system. 4
good part Of the buying i'm these issues
seemed 20 come TIN ough Standard Oil
houses, ana II was supposed that some
announcement Of a favorable character
IN regard 10 their affairs is close at
hand
Colorado Fuel and Iron was strong
and material gains were made in Doth
American Sugar and Consolidated Gas
inc stocks That have been most active
recently were heavy with the larger
room traders sellers. but the declines
were mostly fractional.
Market Remains Steady ami Firm.
Up 20 midday and after there was
little change in the market The trad
ing seemed TO be almost exclusively IN
the hands of professionals. though there
was a good sprinhling of commission
orders On the floor The chief reason
thar che market is not more affected
10y tAeSt ~ JildL Lnefe are TWO SIDES
10 the trading. Orders from the wire
houses for the last week or more in
The East have been to buy STOCKS. while
from the Northwest. especially from
Minneapolis and Chicago. the orders
have been to sci. short It appears
that d large COterie OF brokers and
spectators in the Northwest have gone
long on wheat and corn and short on
stocks. end the latter movement from
that territory is just about large enough
To cOunterha iance the long buviug Of
stocks i'm other parts Of the country.
1t was ,rumored about Wall Street
today that the leaders or the market
are preparing to squeeze out these
Western shorts, and that the signal
for the attack would be soon given.
The leading stocks in point Of change
In prices about midday were ConsOIi-
dated Gas and Brooklyn Rapid Transit
both Of which were very strong and ac-
tive