The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-10-14
Wall Street Hsass Continue the Advance Stocks Fearing Bryan
NEW YORK MARKET HIGHER EARLY,
BUT REACTION FOLLOWS
WITH SOME LOSSES.

NEW YORK. oct. 14-Before the end
OF the first hour Of the session what
promised 10 be a good lively stock mar
ket with sharp gains mere and there
throughout the list was cut down IL
the bud and shriveled by Bryan bias.
In other words, wall Street is now
Just entering the throes of a poliu-
cal market. That thu scare will be per
United TO DO much damage IS not gen
orally believed as the holders are gen
orally big fellows accustomed to stano-
ing the gafr AMI iE the habit Of striking
back with spurs whenever the bears
begin to get to gay.
At the immediate opening there was
Il positive better tone, with sharp ad-
vanccs IN Union Pacific. Steel. and
Westinghouse the latter advancing >
points on the expected termination Of
the receivership in the near future. In
teTnatiOHaI Pump was another speciality
that advanced sharply because OF prom
Using outlook.
Bears Are Cautious.
But the absence of a short interest is
evident because there Is not much buy
ing on soft spots The bears have been
driven in, but they will come out again,
and that quickly If the scare assumes
anything like moderate proportions. The
European situation is satisfactory and
the war scare cleaned out the weakly
held stock on the other side. so that
we are not likely to be called upon to
take more holdings from the Cont
nent and London, unless the scare
should assume more threatening as
PeCt.
At the same time a close watch is be
ing kept on the situation with a view
OF detecting any inside selling. If any
such liquidation develops the market
VIII show II with Increased general SELL
ing The bears were testing the mar
ket every little while, but content ed
themselves with taxing fractional
profits The opening advance in the
general list was i.Oj more JEan Gse4,,
point. Union Pacific gaining Is North
ern Pacific and Reading p, and other
stocks smaller fractions.
Lose Gains.
The gains were lost in the second hour
of the session, and at the low point ad-
diuonal losses Of q TO a point sustained.
From the low there was some recovery
on covering, the shorts being uncon-
WINGED that the scare was the real thing
and considering caution the better parl
OF valor. Their buying caused a rally
Of 2sT&, which was fairly well sustain
ed into the first hour Of the afternoon
There were exceptions to the recovery
Wisconsin Central preferred. Lead. and
Realty holding around low point with
losses of fully a net point Republic
Iron and Steel preferred scored q loss
of ia and Colorado Southern was 4
weakling for point loss. Baltimore
and Ohio, Canadian Pacific. Chesapeake
and Ohio. and Atchison held steadily at
about yesterdays figures. American
Ice scored a gain Of Ia and held it.
=. II. Gary. Of the Steel Corporation,
has entered the Southern Railway Com
pany's directory.
The United States Steel Corporation
IS expected TO report S21.OOO.OoO 10 SIS, OO0.-
Oco earnings for September quarter and
the largest untitled tonnage on the
books since October, 1906 The meeting
OF the board will be held two weeks
from today.
Holding Steady.
The market went into the second hour
of the afternoon without showing much
change on the leaders, though there
were some recoverics here and there,
and also some additional declines
Bears continued to test the tone here
and there, but their work lacked ag-
greSSion, nor could sbservers detect
any LIQUIDATION from important inter
ests.