The Washington times., 1908-11-27
DAYS DECLINES.

NEW YORK, Nov. 27-At the open
ing Of the market there VS. an active
business which soon settled down 10 a
moderately lively gait. with special
strength in speCialties. In some of the
securities prices at the opening aver
aged nearly a point above the closing
figures OF last Wednesday. while in
others there was little or no change
and in the case of Illinois Central and
the Fries the tendencies were the other
way.
Despite its apparent strength il vas
market that VS. apparently ready tn
turn eiLher way without much EFFORT
out me pears were not especially ag-
sITS5siVe, ana the buying continued to
-'0'N 'iSes with considerable strength
Foreign Situation Dangerous.
The foreign situation was considered
rather dangerous by some houses and
adVices were favorable only to conser-
FatiYe operations. Later on LoudoD
took a more cheerful view OF the sir
uation and this had some effect on our
market, but the public and the room
professions were inclined TO await
developments end trade sparingly.
Inc cOalers and Union PACING were
the leaders In the early dealings. while
some of the industriaIs, Steel common
tone
Illinois Central dropped Off ia from
~ y the closing figure OF Wednesday
Erie. which had gone of on the an
i'ouncement Of bond issue, recovered
a HItie' but the gain was not worth
mentioning.
Trend Indecisive.
As real matter OF fact there was
no decisive trend or leadership to the
market. and while the volume of busf-
ness continued moderate, the tone was
uncertain.
Rock Island reported earnings for the
Two months ending with August 81,
Gross. SS,450lS2; net. s2,S95. S6S
y wave OF profit taking, inspired by
The hazy character of the markell
caused recessions from the higher Levels
of the morning.
Tnls was followed IN the noon hour
Dy sharp marking up Of prices on
= mon racine 70 1879, Southern Pacific
10 ~ 81 Paul 70 1888, and Louisville
and Nashville TO 100 There were a
number Of other stocks that moved mn
Sharply, Steel common setting a good
Of a point.
The general character Of runors fav-
ored the bull side OF the market and Il
was expected that some Hartman an
houncement on lines heretofore sug-
tone TO the list, but the close observers
thought they detected clique unloading
whenever the. market was strong
enough TO stand it,
It was evident that the better oI,s{,-
OF the London market had encOuragad
insiders to be q little more aggrassive
ana this was responsible for the i'm
pToVement in the leaders. In the sec
ondary list B. & o. followed the lead
ers with y point advance, Colorado
Southern moved up a point, Missouri
Pacihc rose IA and Northwestern a
point.
New York Central was steady. At
lantiC Coast Line duh, Pennsylvania
dull but well liked. Great Northern
dull and Illinois Central weak.
Strength Developed.
Early IN the afternoon a surprise was
sprung in an advance OF s points on
Alton This started further improve
ment, and the tone OF the market be- /
came plainly defined and the trend 70 a !
higher range.
Louisville and Nashville developed
unusual strength as the day advanced,
rising 2& points TO 122%, and going /
OF g.
Consolidated Gas was the sensation /
OF the day with respect to rise, opening 4
at 1857 and advancing TO 1854. with re- /
action TO 164. The Street is discount 4
ing the expected favorable decision OF /
the Supreme Court
There was another season OF profit /
taking later In the day, and St Paul |
reeeded from 1898 10 19. holding q 1
net gain Union Pacific he'd about a .
gain, and this was the gain IN Reading, 4
Great Northern and a few other 4
stocks. Missouri Pacific held its point
advance firmly.
Smelter was weak, but recovered. /
copper was firm, but dull
Western Union rose to 20. or ~
points Oh prospects OF dividend in /
crease
Er1e closed weak and easy.
Ile generaL market cLnsaa .irnnz