The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-10-06

NEW YORK, Oct ct is evident
that the foreign war scare has inter-
ferred somewhat with the plans OF the
Hartman clique. in that it has caused
hesitation. pending the developments
II there should be a general European
war it would probably be followed by
severe declines in prices. even though
the United States might profit, com
mercialy, thereby. II is the hope OF
the market leaders no less than OF
everyone else that such a calamity may
be averted-
The feeling is that a compromise VIII
be effected, in view Of the attitude or
the Turkish ruler IN postponing a dec
laratlon Of war, pending the possible
adjustment by European powers.
The general opinion among traders
favors a continuation Of the advance
in prices. being encouraged to this by
the fact that very little stock has been
disIodged by the scare in the Balkans
and the deduction that stocks are held
IN strong hands. The technical position
of the market is said TO be excellent and
the strong holding of stocks is conhrma-
ton Of this belief.
Northern Pacific.
4
this afternoon at 2 O'clock for the pur-
pose of taking action on the dividend
The report that will then be presented
and made public is expected to show a
very satisfactory condition OF affairs II
is generally believed that an extra divi-
dend will be declared, this being the
steady influences of yesterday. The Hill
stocks have fooled the street and now
they are the hope Of the bulls.
Start Well.
The market started well. Union Pa
cifc, Hin stocks, Reading, and s. Paul
were the leaders, all opening at la114
points above the hnau figures of yester-
day. Fries also attracted some little at
teution. After the first half-hOur's
trading the list eased a little, then raj
died again. and in the midday trading
were about q from the high point
Union Pacific sold 10 1912 from an open
ing at I64 and off to 1G4&. Southern Pa
cihc held but q Of its Improvement
Reading also was but s higher into
the last of the noon hour The leaders
weakened a little on the very dull mar
ket that attended the early afternoon
trading, weakened as the Street awaited
the news from the Northern Tactic di
rectOrs. When the last issue Of new
Northern tactic stock was issued The
directors rather promised an extra divi
dend.
And Then the Slump.
And then came the slump A slumI
that wiped out the gains almost withOu
exception, and turned the whole mar
ket the other way, not only 10 IA,
extent Of the full advance. but Will
additional declines throughout the en-
tire list
New York denied the extra dividend
story on Northern Pacific. The new
was in every brokers' office and seemeD
to be authenticate. ut least IL was ad
mitted as entirely probable Stock
commenced breaking, and continued q
be sold. suggesting liquidation move
The bears were ready to take that sid
Of the market usIj as soon as the in
dicatiOus pointed IN Caat direction, an,
their sales We're heavy
Gains were wiDel out. Reading Eoin
10 lS05s. q net loss for the day of IS
St. Paul to 1852. a p net decline; Nor
theTn Pacific back To- 1i0. ia net loss
and the whole list of from fractions Z
points.
Passing into the second hour of tn
afternoon the lst continued weak, an
further declines were sustained. Tn
bears were aggressive, and pressed 70
advantage. There were those who con
sidered that the Hartman people Wer
not avcrse to a shdke-Out OF the tran