The Washington times., 1909-10-28

has been very little change in the con-
dition of the market. Values are gen
orally firm Union Pacific eased of
to 1894 being S below the closing on
Wednesday. Reading, Steel Copper
Pennsy. and the general list shows lit
tie change from the 1880 quotations.
The prospects are for a good closing.
NEW YORK. oct 2S-Sentiment eu
Wall Street is beginning to be a little
more favorable. The liquidation stlH
continues, and those who have become
familiar with periods Of depression and
frequent slumps. recall that the usual
termination OF such movement IS IN
dicated by a daily drop for a period OF
four or FIVE days in practically every
thing, are holding off waiting for the
cleanup before getting hack. They may
be disappointed, as the stock sold on
the strong spots is reasonably well TAX
en- and the setbacks have not been seri-
Gus for the week 10 date.
While prices are acting better, there
is no question as to the attitude of the
trading element. the room traders. and
the professionals on the floor of the
exchange. They do not seem to think
any material recovery is possible at this
ten days to two weeks away when
the monetary situation shall be better
defined- This is found TO be the con-
sensus of opinion, and the advising or
sales on high points and the purchase
on the very weak spots, Il. in meas
ure. a safeguard against operations on
the wrong side.
and the feeling is that the monetary
stress is about over. Foreign houses
bought sparingly on balance. There IS
much difference OF opinion anent the
amount of stock sold by foreigners IN
the tiquidations IN Americans.
The opening found more buyers tnah
sellers. and sharp advances resulted.
Traders are watching the sltuauOn
closely and getting in and out Tor quick
turns and small profits on the top Of
the gain TO noon the selling increased
materially. and reactions followed.
One of the features OF the session was
the better strength in the indusJrlais
tnan in the rails. 1t would be hard 10
conceive of ~rreater Industrial prosperity
than that which our manufacturers are
now enjoying car equlpIlleiit c9Iill lls1iilSs ,.s
are doing splendidly, the orders Tor
rails are enormous, and structural steel
commissions have been heavily placed.
Copper Very Strong.
A feature of the industrial strength
was the splendid tone shown in coppers.
Amalgamated was ex-dividend = of 1
per cent. At recovered its z point, and
in addition III more. Anaconda was
point up.
Important sales of copper by one of
the larger selling agencies we're report
ed Wednesday at a price close to "a
cents. The exact amount of the metal
which changed hands was not made
public, but it was said TO be ia the
neighborhood OF e, C,O0o,00O pounds, the
chief purchaser being one OF the larger
brass companies. The strength III
ANA Igamated, although the United
Metals Selling Company was not the
agency which made the sales, ana
other coppers, both on the big board
and the curb, was attributed 10 the I'M
proVement in sentiment IN the copper
trade brought about by the above re-
ported transactions, and II was Ereeiy
predicted in metal circles that the COP
per market had seen Its lowest levels
Tor some time to come
American Car Foundry advanced Win
a celerity not equaled elsewhere, gain
ing in the course or little more th-tii
fifteen minutes an advance OF Hia4lS
two. uofnls from its opening HGITes
this rise bringing the stock up 10 prac-
ficaIlv its high point OF record lHe
reason was TO be round ln the heaF9 y
orders placed by New York Central.
and other roads, and the prospect Ct
trade activity for long time 10 come
AS the day wore on the market be
came decidedly slow, but there was little
disposition on the part OF me hoIueIs :
Of securities 10 make concessions. While
the full gains were not held in all cases,
Copper, Steel. Reading. Peunsyl lVanlas
Northern Pacific and number or
stocks held remarkably well. Half-pOlnt
advances were common. Union racine
had a rather hard time holding its own,
but managed to escape any serious set
hacks. Pennsylvania gained a ful point
Reading rose and fel ana rose dg0lni
and was fairly steady. here The selling
was noticea BILE Northern Pacific was
z better InterbOro was strong. smelt-
ing rose to 97lL or 1A points. and held
spiendidly New York Central y higher.
Steel common added y net Pressed
Steel Car 3. Car Foundry ia. and Lo-
comotiye a point
showed erratic here and there. holding
fairly well as q rule, but with little
business.