The Washington times., 1908-09-02
DAYS DECLINES.

NEW YORK, Sept. 2-The news from
Vermont was tabled 30. X" by the
traders and given due consideration as
a most promising straw Indicative
Of the direction OF the wind in Novem-
ber The stock market had its strong
spots and its weak spots. Manipulation
was still in evidence and the same nerY-
Gus uncertainty as 10 the right time TO
follow and the right time TO get out
and in again. exists
One Hartman continues To aold the
course OF two stocks, perhaps more, IN
the hollow OF his hand Southern Pa
cific, and Union Pacific, the OLD
leaders, under his steady iniia'
tions continue 10 move upward al
the risk Of becoming as lonely as ihe
joker in a deck of cards. for the rest
OF the market does not follow.
The public holds SONG stocks, but not
many. the outsiders seem 10 nave
missed their market and are still miss
ing it, This is an evidence Of the eau
tiOn that was well founded and rightly
grounded. Without Hartman and ms
allies there can be little OF no ques-
ton that the stock market WOul0
now be many points lower in a nat
uraI disCOunUng OF the elections OF
Noyember-siXty days hence Bold ma
nipulation has come to lack public sup
port and favor.
NevertheIess. manipulation has been
successful, and this is the main point
in the play OF the professional traders,
The initial trading this morning was al
q To u pOinL advance. and Vermont " as
respOnsfble Southern Pacific was the
leader and Union Pacific was a good
second, both stocks advancing about !
point. with Southern Pacific rs hiSEeT
and with Union Pacific at one time l3s
higher. Reading, Northwestern North
eru Pacific, and Canadian PaClhC We're
other market leaders. 500 and Brook-
lvn Rauid Transit the former because
OF a good showing and the latter be
cause of the best fiscal year IN us
history, were very. firm In the lndus-
trial list, Consolidated Gas, WiLu a
point rise, ana Steel with p, We're the
only active leaders, Jne rest OF inc L5I
being sadly neglected
Mr.. Gates was III evidence yesterday
in b. r. T. and Reading Ihe move
meut Yesterday was taken 10 mean
some good news coming out but TO-DAY
III was found that John w was under
IL, This activity has led to the belief
among many that IL IS about ume "
take profits II is commented OF as
significant that the Gates party should
enter Reading when 1t is 60 points
above the low point. They seem 70
feel that the present boom is well
founded, and that prices are about low
enough Tor a start. II adds another
manipulation TO the market. As re-
suit of their buying Reading added an
other point to its price today.
Small gains We're made in New York
Central, AtChisOn, Chesapeake and ono
and also in Illinois Central. Even
Pennsy rallied y from its low point OF
yesterday, steel was little better.
OFFICIALS of the corporation are still
bullish In their talk, but it is known
that they have taken their prOfits on
stocks purchased a few weeks ago,
when it Syas reported that the trust IL
self had placed several millions In the
market
Union Pacific sold at 14+A to 1855, and
of fractionally from high point south
ern Pacific started at 1875, a point gam
and turned TO 109L. going OF p
profit-taking. Rock Island preferred 8
higher. st. Paul, 144s4 to l45s 20 IL b
as compared with 1441a at the close - s.
teTday.
The market continued unusually stea s.
well into the second hour OF the afle +
noon, with a more moderate volume +
business than I'm the earlier hours. ~ /
the promise of a steady closing vii
perhaps, slight concessions from O.
high of the day.
ClOsing-In the final dealings only tha.