The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-01-27
NEUTRALITY-SUSPICIOUS.
BUT ONLY FAIR VOLUME OF
SPECULATIVE TRADE.


Street had a new story i'm the reported
sale Of the Chesapeake and Ohio TO
Hawley, of Colorado Fuel and Iron
fame just what Mr.. Hawlcy wants
with the Chesapeake ana Ohio is not ex-
planned an the stories on the Street. and
one Is moved 10 doubt the whole trans
action. Moreover if, as reported. Mr.
HawIey has bought the property. there
are many who would sell the stock. be-
hevlng that such a purchase would be
Tor speculative purposes. and that no
especial good could come from it. The
stock did not respond with any eclat to
the rumOr. There were two stocks that
did change materially ON the strength
Of the story. Denver and Rio Graude
rose sharply from close yesterday at
SS3S to an opening at 3Sat and thence
10 ~. Looking Tor "a cause for the
rise, it must be remembered that Mr.
Hawley Is associated with this Gould
property but just how the Chesapeake
and Ohio and Denver roads scan be of
mutual assistance. except Jointly with
other Gould properties. is a question.
Big -Four. the Chicago connection with
the Chesapeake and Ohio from Cincin-
natl, turned with a loss of 2,s points
Texas Pacific rose =. but it was diff
cult to associate Chesapeake and Ohio
with Texas Pacific directly or Indirectly.
For time after the opening the gen
eTal market remained very steady with
a firm tone and a disposition on the
part Of traders TO DO little or nothing
This continued until midway in the sec
ond hour Of the morning, when the list
rose l4a1s point, New York Central
leading in the more prominent rails
with an advance of lss. although there
was neither reason nor excuse for the
advance in this stock
Still Under Control.
The fact of the matter is that the
men under the stock market are still
able to do about as they please with
II. If il suits their rancy to hold il
steady che controlling plane will not
be moved much either way-ir they are
influenced to let the market ease on.
ease of il will while disposition 90
advance il, will result in higher prices
TO such an extent does the Hartman
clique control the situation
And the general opinion favors the
continuation of the present desperate
dullness TO continue perhaps for the
next thirty days until such time as the
change is made in the occupancy of the
White House. when, even though the
event has been discounted many DAYS
the chances are that another eXploita-
ton of the advance movement will be
made.
Steel Supported.
The United States Steel Corporation
statement for the last quarter of 1908
was disappointment in the matter of
untitled tonnage, the increase being $780,
coo tons. The increase of working force
in the Homestead plant on Monday by
S,o09 WOrEmen had led 10 the BELIEF that
the tonnage increase would be much
larger The earnings were satisfactory
being 100000 below the third quarter
in all S24I50,O00. There was some little
disposition 10 take advantage of the re-
port hy selling Steel common on the
opening, but the slight decline then sus-
Tained was soon recovered. and it was
apparent that the insiders would not
permit the taking of any liberties with
this stock.
There is no prospect for any increase
IN the dividend, and it is not likely that
il will move above IS, but it viii prob
ably be supported by insiders every time
It shows any disposition or going of at
all seriously
after making a fairly good show Of
strength just after 1880 a. m. the mar
ket become a little more quiet
Firm Later On
NEW YORK. Jan z7.-l:s0 o. MN
the afternoon the market became more
quiet but at the same time the tone
was encouraging and the gains were
reasonably well sustained St Paul
was = above Yesterdays closing. Texas
Pacific Ia, Union and Southern Pacific
=, Norfolk and Western =, New York
t1,eniTai l-8, and Chesapeake and Ohio
rails and industrials did not show much
change.