The Washington times., 1909-08-13


rails. Great Northern has lost about
haH OF its gain. The chances for a
weak closing seem likely out one can
never tell what the last hour Of the
session win develop, especially these
days.
NEW YORK. Aug. 13.-The day Of
the week ana the day of the month had
their effect in restricting operations in
the market Moreover the distribution
yesterday and on Wednesday as well.
have taken many stocks from strong
ownership and distributed them among
holders less capable of taking care of
them, III Che event of any untoward
news or influences. This has caused
many traders and brokers who have
been insisJaut bulls to put on brakes and
TO advise caution on the part of trad
ers. The powers that be brought for
ward the probable segregation Of Union
Pacific properties and told the Street
that Union Pacific could pay S15
share dividend on its holdings, and there
is every evidence that this part of the
story is based on actual fact
1t was sufficient to cause Union Pa
cific common 10 turn 2ll12, while the
preferred stock rose to lis from 1857 10
us. on the prospect OF early retirement.
This was the sensational rise of the
day and the only one that called for
special comment, with the exception of
Rubber. II was reported on the Street
that news Of an extremely important
and favorable character was coming
out in the near future and the rise was
simply discounting this good news.
Most of the usual market leaders did
well to hold their own, though many of
these were but slightly changed, the
list other than for few stocks, show
Ing few ret changes, this with regard
10 the rails. The industTials for some
reason or other, probably more on ac-
count of prOfit-taking than anything
else, were decidedly weak during the
morning hours.
The Rails.
In the rails Great Northern, Southern
Pacific. St Louis (and San Francisco
showed the best strength second TO
Union Pacific. All these stocks were
lower at one time, but seemed to re-
cover fairly well under the boom IN
Union Pacific. Reading. Fries, Atchi-
son. Baltimore and Ohio, and most OF
the rails moved within a narrow range
that did not require much comment.
Louisville and Nashville lost q. 500, Ste.
Marie lost ali its gain of yesterday.
While St. Louis and San Francisco rose
~ but only held = Of its gain
Rubber common rose nearly 81 points
and was decidedly strong The common
was : higher. Steel was higher lower,
and steady, and preferred acted much
the same, with a fair business. Colo
RADIO Fuel. Railway Springs. Ice, Lead,
sloss- Sheffield, and Republic Steel lost
: 10 ! point, and all were weak Cop
per was decidedly soft. going of II
points. Chicago and New York Gas
shares were strong at higher figures
List Generally Weak.
Entering the noon hour many Of the
stocks that had held well in the morn /
ing yielded to the pressure of profit /
taking and some little short selling. 4
Passing into the second hour of the I
afternoon there was but two strong 4
stocks in the rails. Union Pacific and |
Great Northern and the former had /
gone back from its 21Ih high back to
I0s- Missouri Pacific and Northern /
Pacific were but fraction off. Reading
mad dropped back = point TO l63 = South /
ern Pacific had lost its q advance and a /
fraction additional, Pennsy was = Of {
and the rails generally were saEging
The day OF the month hoodoOed the I
market. The enormous distribution of
holdings the last few days was more 4
effective than the day of the week or 4
the DAY of the month
The industrials continued soft and in 4
addition to the declines being ENLARGED, !
Smelling turned weak for a loss of 3 /
ana Steels for 4sN1z loss.