The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-06-05
DAYS DECLINES.

NEW YORK. June st was a decided
~ dull morning in the stock market
with little higher prices on most Of
the leaders Immediately on the opening
out with weak spell coming on soon
aIter' and decline lka& of a point
Later on the market seemed to take
on fresh courage. on the covering OF
snorts. on easy money. and the belief
that rally after the break was but
natural. AT the same time the feeling
was one Of great nervousness, and there
were mighty few commission orders be-
ing executed. Traders complained that
the business was being transacted by
few big houses, and that IL was al
most exclusively for the account of
few big operators who are not afraid
TO place orders for a few thousand
shares one way or the other.
There was absolutely no new infu-
onCes Al work one way or the other
although the Union Pacific bond issue
was stiIl working against p,.5lic invest
ment and speculative buying. the mora
so as the issue is fifty millions instead
Of the forty millions as reported and ex-|
pected.
on the rally, probably started in an
effort 10 induce general buying the ad-
big leaders. Union Pacific. St. Paul.
Reading and Northern Pacific. Most of
the secondary stocks, including Balti-
more and Ohio, Louisville and Nash
Vile. Great Northern. Ice, Smelling, ana
Steels were 15a2l higher.
Lawson Breaks Out Again.
Thomas W. Lawson has broken out
again, his first break since he fooled
the public and a number OF profession
ais with the Yukon gold deal, The Bos-
ton would-be boss has an article in
number Of New York papers, IN which
he denies that his financial movements
have been in any way dictated by ad-
vance Information from Washington.
Moreover he makes IL very patent to
his readers or those who read his paid
advertising matter. that he Is now
shorting the market .hat he believes
It will break ten to twenty points on
the action Of the Republican conven-
ton in Chicago, which Will stampede |
for Roosevelt So far so good, but /
the talkatlye one takes occasion TO |
predict the forthcoming fOtatiOn OF a |
bilHon-dolar corporation on the New /
York market, "a corporation that will /
make much money for its stockholders. |
Will dictate its own market values and /
make money for the public that buys |
its stock"
With the memory of Yukon fresh in |
the minds of the public and the stock /
OF the Yukon Gold Company slow
around go, that Lawson advised the 1
purchase of at to z, it is not likely |
that the old 'uns viii bite, but the /
suckers are not all in, and the Boston /
man may have fair success.
Market Becomes Very Dull.
Entering the second hour of the after 4
noon the market became very quiet and /
there were recessions OF about half /
point IN the general list. This reaction
airy tendency was carried throughout |
the industrials. as well as throughout 1
the leaders. The volume OF business |
was very light, and the chances seemed |
good for weak. lower closing unless |
the insiders come 10 the rescue Of the |
market.
In the last hour Of the day the mar /
ket displayed more strength and the /
closing was decidedly firm. although the /
volume of business was not materially /
increased. The leaders gained from /
10 is, secondary stocks 1A41is and the /
leaders in the industrial group q 10 rs. |
1T was not such a bad day after all. [
but the bulk Of tAe trading was by the
professional element.
The changes both ways are shown by
: "a