The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-08-19


market today is very irregular, with the
same professional tendency. as yester-
day and with the public silent spec
tators, SO far as any par -cipation in
the trading is concerned. Prices are
weak in spots and strong il spots, TO
suit the plans OF the plunging operators
Who are now managing The market
a local financial paper takes the OPP
orators of Wall Street TO task this
morning for what it calls the senseless
driving of the public from the market
and leaving IL in the hands OF unscrup-
Nlous plungers-' The idea is suggested
that this Is very bad way TO waken
The right kind OF sentiment in favor
of bun movement such as everybody
Is talking about and such as everybody
hopes Tor. This paper says, possibly
with little eNaggeTation, that trading
m l,OJ0uUJ shares a day by half a dozen
men does not constitute a healthy mar
Aet or one that decent people can have
confidence In. The paper goes on to de-
piure the prostitution OF the floor OF the
stock exchange 10 the gambling pur-
poses OF q few rich spectators when il
should be the place for the free ex-
change of securities. iH which the pub
lie should have the same rights and
protection through their brokers as any
body else.
came influences at work,
At the opening the movements show
60 continued conflicting Influences u
work. Union Pacific opened Is higher
and Southern Pacific was unchanged at
within Is of the highest price OF record
Tor IlaJ stock. Immediately alter the
Opening both stocks recaded slightly
The Hiu shares opened up 3 each and
were duh. Reading started 4 better,
- Ia r..Fr- L.
Central ant Copper opened unchanged,
Steel common gained IS ana Smelling 3.
baltimore and Ohio opened y lower. ST.
Paul opened eN the 5le per Ceu- semi
annual dividend at las.
II was evident that the Hartman bro
RGTs WcT- forcing the market on Union
Pacific, and that stock reached the
highest price at which il ever sold
S>-s. 1t was the only stock i'm which any
demon stTaJiOu was made in tie carry
trading Its activity reused suspicion
and traders began selling the iict. on
the decline the market became very dull,
and by the middle of the hrst hour was
stggnauU-
Announcement that the deficit of the
Metropolitan Street Railway Company
was growing rapidly caused a break of
more than 1 point IN Electromagnetic
ropoltan preferred.
Silver Shares Active.
On the curb market silver shares
were leaders, with the Rose and Nipis-
sing most active. There was good buy
ing ? GOlddeId Consolidated on ex-
pectat'on of dividends in November
Cotton was about so cents a bale
lower and wheat was not materially
changed in the early trading.
About II o'clock the bear tactics.
which were so effectively employed
yesterday, proved unsuccessful Traders
caused depression in few Of the
speCiaIties. while in others sharp ad-
yauces took place.
Wall Street is beginning to worry
over the elections in Vermont and
Maine, which come in September.
These are expected to show the trend
of public sentiment and Wall street
Aas notion that Republican MAORI
ties in those States viii be cut down
this year
Market Sells Of.
After noon the market eased off,
though the underlying strength was
stuI a matter of comment The profess
SIGNALS seem 70 he much at sea as to
the meaning of the price movements
.Chey do not move up or down easily
enough to satisfy their plans entirely.
Hartman brokers and those closely al
lied with them were heavy buyers of
stocks. and they attracted quite a
strong following III Northern Pacific.
which held we'll while other stocks were
Crumblug.
Opinions differ as TO the extent of the
bear account, but the general opinion
is that IL has been largely increased
yesterday and today in the hope or
making a successful drive against the
market possibly tomorrow, which viii
carry prices down several points. some
such action was fOresJalled today only
by the magnificent support given 10
Union Pacific and Great Northern.
The market in the middle of the after
noon shows the same irregularity, the
same weakness in spots, and gives some
anxiety 10 the professional traders, who
are concentrating their ammunition on
a few stocks in the efforts 10 torestau
q bear raid
The market turned dull and heavy
In the closing hour, and prices IeH