The Washington times., 1908-10-01
Wall Street Waits Doing Little Business, But Confident Sustained
NEW YORK MARKET NARROW WITH
FAIR UNDERGONE AND SMALL
CHANGE.

NEW YORK, Oct. 1.-At thimes today
the tickers were quiet for a minute.
At no time was the stock market active
and the volume of business was very
limited.
It seems to be the policy of the parties
who have the stock market under com
plete control TO play the waiting game.
1t IS not probable that there viii be
much doing for a week or ten days
By that time It Is possible that the po-
lItical situation will be less dense. This
seems to be the only hindranCe to an
advance as conditions in the general
business world, In the various indus
tries and In railroad earnings are i'm
proving very steadily, and but for this
uncertainty the betterment would be
SO evident as not 10 be doubted.
Il is fortunate that conditions in re-
spect TO the ownership of securities are
as they are. Commission houses are al
most bare u stock on margins, other
than from professional room traders.
The public is still Indifferent TO the
market, and holdings of margined Sc
curlties by the public are smaller than
ever before.
The clique headed by Mr.. Hartman
and composed OF some Of the very best
men in New York, from a financial
standpoint. is not likely to make any
mistakes. nor is il likely that they will
permit any serious decline in the mar
ket. no matter what the result OF the
election. Mr.. Hartman has made Che
statement that it can make no differ
euce to the stock market whatever the
result of the November 3 contest, and
he will probably make the market sup
port his theories.
Higer Levels Probable.
II is expected. however. by everyone
in touch with the big fellows and their
plans, that, after a period of hestita-
ton, the market will start toward
higher level, IN the discOuntlng Of the
election returns, for despite Hartmann
opinion. the result is important from
a stock market point OF view, and there
are hundreds and thousands OF people
who would probably buy stocks today,
if they were assured OF the reins OF
Government being held by the candidate
of the party in power. The Street IS
of the opinion that this viii be the re-
suit and any indication thereof, Will be
a factor in advancing prices
GOssips advise the purchase of low
priced stocks on all recessions and pre-
dict bear raids now and then, testing
conditions.
were within a narrow range Central
Of New Jersey was OF from 196 to Isl,
although there was no evidence there
for Canadian Pacific was under the
hammer early with a loss Of ~, but
il was recovered, except the fraction
later on. The leading rails were both
higher and lower, but the noon hour
price showed little change Of import
ance from Wednesdays close.
Small Fluctuations.
Northern Pacific was off Z, Reading
5s and the Erie =. Steel common,
slightly easier; preferred steady Lead
was weak at a los. International Paper
lost points on the cut in dividend,
while Distillers held well because the
dividend was declared
St Paul. Union Pacific, Southern Pa
cific. Northern Pacific, Great Northern,
and a number Of less active rails were
just steady at the last price Of yes
terday.
Passing into the second hour Of the