The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-07-12
Sales of 100000 Shares
Are Made at Marked
Advance.
MONEY PLENTIFUL
FOR OPERATORS
SHELTERS, Copper, and Railroads
Take Lead in Activity-Bulls
Are Defeated.

NEW YORK. July u.-Following the
holiday OF tho close OF the previous
week the Now York stock market
started buoyuntly and has been active
and strong al the week. Net sales FOR
the six days were approximately 1900,
90 shares, and the majority of them
were bought at al advance OF one 10
i've points over The closing prices OF
Friday, July 3.
That day was one Of the dullest in the
history Of the New York Stock EX--
change. prices hanging where they had
been pegged for more than week. and
the brokers giving more attention 70
play thar 20 the business OF buying
a.G selling stocks. On the assembling
OF the members Monday morning, how
ever. = great change had come over
the situation. The political air had be-
come cleared so that Wall Street mad a
line on what the Democratic cOnven-
ton would DO at Denver, money was
plentiful fOg any desired operations,
the tone OF the market was fairly good,
and tho attitude Of spectators favor
able Tor an upward movement.
Tho rise began with rush and was
continued undated up 70 yesterday.
While the rise IN prices was not Phe-
nomenal, the market was active, prices
strong. and the advance moved prices
from three 10 five points Up. Late in
the afternoon Thursday profit taking
hogan ana yesterday realizing sales be-
San 70 affect prices adversely
At intervals there was some short
covering, and the hopeful bulls tried
again and again 10 boost the market
out Of the rut, but selling pressure was
rallies. and the market closed today at
noon with the prices OF many stocks
near the level OF a week ago, some
showing losses and the mora active
issues recording gains Of two TO five
points
Among the more active stocks for the
week were American Smeltors. Ana
conda, Amalgamated Copper. Chesa-
peake and Ohio. Baltimore and Ohio,
Union Pacific, Reading, Great Northern,
and St. Paul.
The strength in Shelters was due
largely 70 favorable reports on the
stool business, and the activity OF this
stock was helped along BY persistent!y
circulated reports that now was the
time to buy It. Other Steel stocks
shared in the activity and strength OF
Shelters The stock gained about I'VE
points for the week, scoring a new high
level for the year 1906.
Strong On Rise.
Amalgamated Copper and Anaconda
with The other members OF the group
gained in strength on the rise, be-
cause Of the current belief that the
price OF copper metal is due 10 a rise
and THAI a period Of great prosperity
for the producers is Just at hand. Am
algamated gained about points on
the rise. and Anaconda ia.
Owing TO better summer business and
favorable weekly showing OF revnue
Brooklyn Rapid Transit was one Of the
active stocks Of the week, gaining near
~ points in price and selling several
thousand shares.
The upward movement really started
on Chesapeake and Ohio. II was very
active and added s. share to its mar
ket value
The Pacific railroads and the trunk
lines Of the Northwest group were in /
the forefront for the last six DAYS. THE
activity was predicated upon good crops
In the Northwest, the settlement OF the !
rate dispute on lumber from The Pa
cine States and the general good out |
look for summer and autumn business
The gains were from one 10 three points /
on these stocks.
Whle Reading has been the leader of |
al stocks during the week, il has been /
disappointment 10 those who Dinne5 !
ther falth 10 II as q speculative money /
maker 1t had been the stock which I
some OF The wall street and Broadway 1
houses mad accumulated for the turn I
ID the market and every time the STOCK
maze a point or TWO the rise became the |
slshaI Tor realizing sales which drove |
Tie quotations down again. The nar I
rise Tor the week was less than . r,oi,,s 1
Baltimore and OHIO was 4 feature os
the trading. II had been freely predict-
ca up 10 Wednesday night thar tho 4
dividend on the common stock wouId De 4
CUT as the earnings OF the road womb /
not JustlIy fun dividend of o. Der cenr
Inc directors Of the company. bou,-
ever mad a surprise up their Sleeves
ana that announcement OF The NOV
cent dividend almost took the S+raet !
on It's feet The net rise for the vyeal-
IS points. VEGA
Street Not Affected.
II is clearer than ever this afternoo,
mat Wall Street is not much 60
py the political situation as vet n
Denver convention has been Iare,a1,, -,
hored In market calculations Tha M |
ment that Spectators were assgr.1
that Bryan would be nominated tbev
turned from the political news in tbeir |
morning papers TO other things. It is
einch that baseball, goli. and sporrs
generally were read with more eagar-
ness by the street traders than the re- /
ports Of the noise and chickering's over
the platform at Denver
RrVauFS uOu,iuari,p .--.1r,-
feat, thinks Wall Street, and IN will |
take good many political guides 70 |
show men from Missouri in WAL
Street that there will be any other ont
come Of the campaign Hence the incif-
ference 70 the situation. Probably a.
the campaign advances the Street NAV
wake up. particularly If there is an on
portunity to place large bets on the ont
come. but just now financial circles
never had more Indifference to the 10
ntical situation. 1t is safe to say that
beyond the period Of waiting TO see
what would be done at the conventions.
politics has played no figure in Wall
Street this year
Brokers generally are studying with