The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-02-16
NEW YORK SECURITIES IRREGULAR
AND WEAK ON LIGHT VOL
UME OF TRADING.

NEW YORK, Feb. It. %. m--Stocks
were essentially dull tn the transactions
Of the second hour of the afternoon.
The railroads continued strongest, but
where advances were shown they were
only fractional at about the level Of
last nights closing figures. Most stocks
are moving today within a range of
point. and many of them have regis
tered losses. The market is without
sepirit and seems TO lack support other
than that the leading stocks are held i'm
strong hands and will not be allowed to
fall far. Floor traders do not at this
hour expect any marked show of
strength at this session.
NEW YORK, Feb. is, p.m.-New York
stocks started weak and heavy with
fractional declines throughout the list.
Prices were very weak in London, and
the cables brought proof that there was
general selling of American securities
in foreign markets.
This served as a strong argument for
heaTish sentiment and the local market
was very slow 10 show any improve
ment At the end Of the first hours
trading prices were generally STEADY,
showing moderate declines from yester-
days closing quotations.
Big Four Jumps.
A sensational story that the Lake
Shore and Michigan Company would
guarantee the dividend on the stock or
the Big Four caused a phenomenal rise
in that stock. Within a few minutes
after the circulation of the report Big
Four jumped nearly five points, but
very soon settled back three points.
All the Vanderbilt roads by noon were
strong. New York Central showed good
gains and Nickel Plate had advanced 81
full point. But the Vanderbilt stocks
were the only strong spot in the list
While these were active and steady
others, notably the coppers, smelters,
and Reading, were weak.
just before midday the Pacific trunk
lines strengthened somewhat ana held
steady on the slight advances they were
able TO score. But the list IS a whole
was irregular with conditions very bad
for any marked advance, such as was
shown IN the light trading of yester-
day,
Conditions Are Unchanged
Thsre was no change in the conditions
influencing the market. 1t is essential
~ in a waiting attitude. Yesterday a
rise was due in the face Of the dividend
and corporate developments which oe-
CURED during the three days holiday.
but none Of the things which happened
were OF sufficient Importance TO war
rent more than a slight furry, and to-
day fnds stocks sagging back 70 the
Ie IL they occupied before the rise of
yesterday.
There is nothing in sight 10 give the
market any substantial boost. and ID
remains hung up at a rather high level
waiting for tariff revision. the Taft in
suguratiOn, or some other event which
looms large in the public eye to start
things moving.
Prices Generally Lower.
After midday, the course of the mar
ket vas generally down. Irregularities
were less pronounced and trading be-
came duh and heavy. Declines were
compare lively small In most issues. in
d5cative OF general weakness rather
than heavy bear pressure Indeed the
transactions were very light, moor trad
ers being Hstess and without interest
in the proceedings
For the time being the market is be-
ing allowed TO take care OF itself, with
gust enough support being given IL 20
save IL from a break which would carry
prices down with a bang. AT . o'clock,
Reading had lost nearly a point. Anal
Eamated Copper was CoTTespondinglv
weak, and only the FandeFbilts and
Pacific railroads showing anything like
steady strength.