The Washington times., 1908-06-30
NEW YORK STOCKS
AGAIN VERY DULL
Market Opens on a De-
cline and Sells
Lower.

The thOrougn-gOlng manipulation uh-
der which the stock market is held
these days was shown this morning,
when the substantial rise and activity
of yesterday we're followed by inactivity
and dullneSS even more pronounced
than that of last week. No reason, eN-
Cept one Of the market leaders TO hold
the situation without material change
until ready for a decided movement that
will serve their purposes, appears lof
the conditions which exist
Today all the favorable factors OF
yesterday were present. good weather
for the growing crops, money plleu
mountain high In the vaults of the
New York banks, political facts point
ing in the direction most pleasing 10
Wall Street and brokers in a cheerful
attitude waiting for the coming or the
long delayed bull market Yet In the
face of all this most of the stocks
opened lower than last nights closing,
and sod on during the first half hour,
with a volume of business insignificant
in it's Smaiiness. At the start AtChison
Oft a. Canadian Pacific p, Anaconda
and st. Paul a, and Amaigamated y
Southern Pacific and Rock Island pre-
ferred up Is. Northwest gained Il ana
Union Pacific. Reading. Steel common
u. Illinois Central up q.
Price Fluctuations,
Price Quotations were narrow. with a
minority Of the issues showing declines
hILtT the uTSL Ten minutes tA II eAAAlli -
AT the end Of the first half hour. how
ever. most OF the losses mad been
wiped out and replaced with fractional
gains
Reading and Union Pacific were the
leaders in the little trading done Anal
gamated Copper and Smelter were NJ
one-eighth of a point, while Anaconda
lost a quarter. Directors Of the Ana
conda are scheduled 10 meet today and
take action on the dividends. II is be-
1fex-aH In the hest informed quarters
that the declaration VIII be 90 cents
share. the same as was PAID three
months ago.
ELECTROMAGNETIC Metropolitan preferred
gained half a point because Of the de-
cislOn by Justice LaCOmbe. Of the United
States circuit court IN which ne salu
the receivers Of the Metropolitan Stree'
hallway Company may cancel the leases
made by their company with certain
named roads that are now being oper-
ated at a loss.
market hung fire. with only fractional
changes in quotations and desuiI orS
trading Of an entirely professional chdf'
acter. The sales TO noon were among
the smallest recorded In this duh period
and the market seemed in a dead caiiI
from which there IS little hope OF us
being extricated today.
Market Remains Inactive.
At O'Clock no material change hal
taken place in the condition OF IN
market Just at that hour Reading sol'
IN two or three fractions. wiped on
the losses Of the morning, and stood a
llS Some little excitement was awaN
ened over this rise, traders watchlnl
the incident in the expectation mat ]
might be the signal of a sharp advance
which somehow half the traders of tn
street nlomentarily expect, in spite o
their apparent lethargy ana gruhDllij
over the duh market.
Rv the way, there is much SrumDhn
and vet when the situation IS &nalyze
there is little cause for IT, The aver
axe fluctuations I'm the leading stock
for the month of June have been with
I'm three points and a half, with Tn
market, today about midway betwee
the high and low Of the month. III
gr;1mblfnc should be based upon IN
Inactivity of the market rather IhaL
llpon any movement in which the trad
ers could have lost money The fact )
The signs of betterment are not IN IN
tame. but in improved business, the al
tention which the big corporations ar
giving 10 the future, prospects Of bl
harVests and absence Of anything llh
the political excitement that has marke
the campaign years for two decades.
The market reached the high pOin
for the day soon after the noon hod
and became depressed during the
ternoon Chesapeake and Ohio lost
Union Pacific the same, and America
Locomotive y. The rise in ReadiE
was short lived. Bids advanced 70 ll3'
and before the close il had lost
point.
The market closes low and dull, wit
business small, and nothing in sigl
to warrant the hope Of improvements