The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-09-25
Delaware, Laclsawanna and W. Il.

NEW YORK. Sept. 25.-TOdays mar
ket lacked the virile force so evident in
yesterdays trading. It was q rather
insipid. waiting market, with price
changes generally within a slight range
ard everyone waiting for developments
that at least until we'll into the after
noon had not materialized. II there
were not many buying orders II was
Just as evident that the bears were not
especially sure regarding their position.
and between them the tlCkers were
given a semi-hOliday
The ease with which the clique took
the situation under control Yesterday is
an evidence of its ability to do about as
they please with stocks when they
please. II there has been distribution
OF a large amount OF clique stock on
the higher prices Of last week II must
also be admitted that the sellers have
Iehabilitated their stock lines on a low
er basis, and the natural trend viii be
10 advance values against another ne
moo OF liquidation between now and
election day.
Opening Was Irregular
At the immediate opening the market
was very irregular. Reading, Union Pa
ciic, and Southern Pacific, the big 3. -
were to the fore as II starting of for
another days movement. but the HUI
Shares and some other rails, Atchison,
Fries, and few others, were laggards-
The three leaders moved up 2 10 a
point, and then the weight OF the Hills
and lack Of buying in support of the
market or covering by shorts brought q
reaction. the gains being lOSt, and in
the stocks that barely held their own
at the opening there were losses Of
52GA. Shelters lost rs, Erie y, Great
Northern 81.
The down turn was followed before
The middle Of tLe- second hour by an
UP turn, and then passing into the after
noon the trading became less. and the
market settled down TO slow, tedious
affair.
There were exceptions. Shelter raj
lied very strongly, and advanced 20 So.
a point net gain. Louisville and Nash
Vile rallied point. Delaware. LaCka-
wanna and Western 8 points. and Lead
Pennsylvania was . of. Northwestern
=, and very many stocks on the list
About noon Great Northern and
Northern Pacific surprised the Street
and disappointed the bears. who were
waiting for a slump. with a decidedly
firm tone. which ripeued during the
next sixty minutes into an advance on
the former Of ia from the low Of the
morning and full point above Thurs
day closing NlppeT rose from 1897 4
10 1864, and both stocks showed a dis
position 70 move higher. There was
no explanation of this change OF front.
unless these securities were being taken
in hand for the purpose Of giving the
needed backbone to the whole list
Delaware, Lackawanna and Western
slumped back for loss Of IA points
instead Of the morning gain Of g.
Market Tone Firm
Passing into the second hour Of the
afternoon there was a better tone all
through the list. and most Of the stocks
showed some Improvement. Smelter sold
10 Sc, and this eX-diviIend SteeIs were
. better and the entire market, while
dull. presented a firm front 10 the bears,
who waited auNiOusly for break. Rock
Island, on which Hartman Gould war
was predicted. acted beautifully, going
I'D 1 10 IL points. despite the antagon-
istic reports. Everybody seemed to be
looking for a reaction of fair proper
tinns. and as the day waned the chances
appeared 20 grow beautifully less some
shorts hurrying TO cover. and some mod
erately good buying being discovered
here and there.
In the closing hour OF the session,