The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-06-27
Business Confined in Mar
row Limits, With Gradu-
ally Rising Prices.
TEMPER OF MARKET
REMAINS BULLISH
Favorable Crop Reports and Accu-
mulatins Reserves of Money
Favor Activity.

NEW YORK. June GLOVER prices
hor American stocks in London was the
news brought by cable this morning,
fand the opening Of our market was
irregular, but not much lower. The
majority Of stocks showed only small
fractional declines. and shortly improv-
led TO net gains OF similar fractions.
Trading from the start today was duh
land almost without feature.
At the opening Northern Pacific, St.
Paul. and Steel. preferred. Were i high
er American Locomotive started up n;
was unchanged. Southern Pacific, Cop
per. and Rock Island. common, opened
as lower. Rock Island. preferred, start
ed UNCHANGED. and declined :; Reading
was unchanged and advanced 4. Union
Pacific opened 4 lower, and advanc-
Ell =.
AT the end Of half an hour these
stocks showed a net gain Of Is to
point, the last being the record Of Ca
madam Pacific. which reached 100 For
some reason there IS little Of this stock
I'm the market and it responds to de-
mand quicker than any security on the
list. Another Of the big gains was in
St. Louis and San Francisco which
rose 13s apparently on the announce
ment of yesterday that arrangements
had been made 10 pay interest on July
J. The market remained steady and
practically unchanged to the close.
The narrow range Of the market is
seen i'm the fact that the total sales of
the short session yesterday were 20I,-
100 shares. and today the sales were q
little short of chat figure With this
!IeStricted business also prices are grad
,ually rising, and all the news there is
may be looked upon as bUllish. At least
the bears are able 10 make nothing OF
the situation and aside from a little
downward squirt last Monday they have
been unable to score during the week
W.. 4 ~.rI-a,-
as hung on a peg waiting for political
I developments within the Democratic
! party. Il Is apparent here that the
/ financial district is eminentIv satisfied
with the nomination of Mr. Taft, and
THAT his election in November is conf
IDENTIFY expected.
J There is. however. this element Of
lChanCe, that the Democrats NAV uOm{-
nate some one other than the perennial
candidate, and in that event the ex-
fpectauons Of Wall Street would be
upset, and the effect upon the market
would be immediate and probably Sc
Iious. il is this uncertainty that seems
10 explain the lethargy Of the moment
If spectators were certain that II
would be BRYAN at Denver. a healthy
advance in prices would be almost GER
tain. next week. Everything, except the
naming of the Democratic nominee, Is
favorable 30 that en1-
TIE accumulation OF money in the
New York banks and at other financial
land trade centers IS attracting the at
teution OF the Street to a large degree
So far as can be seen the needs Of the
farmers for Tn moving OF crops this year
lNVilI make no exhaustive drain upon
E1Eese reserves. and old spectators read
tNIth gl3srening eyes the stories OF the
money piling UP everywhere. Some of
them are heard 20 say What a time
for q killing" This Is only another
Troof that all the facilities for a bull
market are at hand. except the conf
dance Of the big leaders that IL is time
10 start the ball rolling for higher
prices.
Even now the temper Of the market
Z Is bullish and with every tick Of the
telegraph instruments come Favorable
reports Of the growing crops in all parts
} Of the country.