The Washington times., 1908-10-29
Clique Holds Stock Market Very Steady Despite Some AneEon Liquidation
NETWORK STOCKS WERESTRONGER,
WHILE STREET SPECULATES
ON THE FUTURE.

NEW YORK, October 29.-At the
opening prices were generally stronger,
especially on the leaders. Immediately
some selling was discovered coming
from commission houses and traders, in
the process of cleaning up before cleo
ton. one house sold 10000 Union Pa
cihc. another 5000 shares. and there
were evidences of more liquidation of
like character. One earlg report stated
that there would be quite a lump OF
stock for sale and as a result there
were concessions here and there
throughout the list amounting 10 1aaB
OF a point In the case of the active
leader Union Pacihe, the decline
amounted to ia from the high OF the
morning.
Before the first hour Of the session
was ended the tone seemed 10 improve.
Some short sellers OF the early mora
ing tried 10 do the covering act. and
found that little act al stock Wss oiIe.-
cd, and then they had to pay up in or
der TO get the stocks.
Plenty of Rumors.
Wall Street has many rumors to iii.
gest these days. It has confidence IN
the political situation, and believes that
there viii be TO change n control. This
Il evidenced by the fact that three bus
mess days away from the battle day.
stocks are within a fraction OF at most
a point or two from the highest prices
OF the wear.
There is this TO be said concerning
this feature of the situation 1t IS not
natural Ii has been d case OF main
strength under the market, main
strength and plenty of money, under
man. who has been able 10 give Valu-
able lessons in this kind of work TO
Old-timeTs in the speculative field. 1t
is not believed that Mr.. Hartmann fol-
lowing has distributed much stock on
the high point The stock coming out
has been that OF the followers of the
clique, and the more of il sold before
election the easier viii be the work or
the Hartman people after election.
Unexpected Happenings.
1t is usually the unexpected that hap
pens on Wall Street. This is account
ed for by reason of the fact that the
masters Of the game discount the good
news, and they also discount 80 per
cent of the bad news. Before the pub
LEGATION OF the news affecting the mar
ket, the big fellows have usually dump
ed their load or bought a new load
of securities to be sold on the bullish
developments.
Therefore. the Street doesn't know
just what TO expect as a result Of the
November election. The genera Opin-
ion is that stocks will be held steadily
in the event Of a change Of party in
power, and that they will move up in
the event Of the defeat Of Mr.. Bryan.
This seems probable for the reason
that the Hartman people have got to
make market on which to dispose Of
their holdings. They have the stocks
and viii probably have 20 hang on 10
them in the event of Mr.. BTyau's cleo
tiOn. Il remains for development
whether the public viii come in and
muy them in the other event
Sharp Rally Follows.
After the decline. as stated before,
tftere was a positive recovery that ex-
tended throughout the entire list. al
most without exception. which carried
stocks right back 10 the closing f1g-
ures of Wednesday, but not back to
the high of the morning. This reCOv-
cry was general. but more positive in
Northern Pacific, where it extended 10
and Nashville, where = loss was re-
corded
Throughout the noon hour the market
gathered more strength, and sharp ad-
yances We're made in Union Pacific.
Pennsylvania, Great Northern, Northern
Pacific, and Smelling Other stocks
shared in the bettermen. Pennsy was
y higher. Reading moved Up to 1895,
Union Pacific gained q net Shelter a
10 1851. Northern Pacific extended its
gain 70 to 2b points. There were evil
deuces OF sustained market, and the
bears Of the morning tried 10 get under
cover The action of the market was
but another proof Of the manner in