The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-05-27
STOCKS SHOW SLIGHT RECOVERIES
ON COVERING BY SHORTS.
SOME STRONG SPOTS.

NEW YORK. May 27-2 p. m.-The
market continues very slow with slight
Is better p1ices. Steel common is g. -.
The whole list moves sluggishly, but not
downward This is the net result of
Inc covering of shorts. and some favor
able information on specialties.
NEW YORK. May I'll p. M-The
market is beginning 10 assume a'h0li-
iay appearance. while a moderate even
ng-up is about all the trading that is
soing. in anticipation of the adjourn
nent from Friday at the close of bust
hess until Tuesday morning of next
week. Most of Yesterdays selling was
IN short contracts. bringing out but
little actual stock. although it was re-
ported that pools in Chicago and the
Vest were dispOsing of their holdings
wearied by the delay in tariff iegisla-
non- AS matter OF fact the taIlH
shOuld cut little figure with business
men and their preparations for the rest
II she current year, in so far as any
lear of reduced rates are concerned, Tor
The sentiment in the Senate doesn't ap-
fear to trend in that direction when
Senator after Senator from the tree
Trade States adds his say-SO to the
protection of home industries. II Is
much more TO the manner Of the West
5rn traders to HQuidate because of the
limited. the narrow action of the mar
ket, which is not to the liking of i'm
PulsiVe traders who want action. In
Heed, there is nothing in the market to-
aay that suggests action. 1t IS tire
some to commission houses, to room
traders. and 10 the brokers on the floor.
Il doesn't suit even the scalpers-
Covering of Shorts the Feature.
The covering of shorts put out yes
terday was the feature of the market
and IT was evident in Reading, the
big weakling of yesterday, more than
in anything else Erie was materially
helped by the confirmation or the re-
port that the 100000 new bonds APP
proved by the public service commits
sion would not be issued, the company
finding 1t possible because OF the i'm
proved earnings To defer the perman-
ent financing until more propitious
time.
Amalgamated Copper. came strong in
response TO the strength of the copper
markets in London and yne assertion
that Whatever the attitude of the in
siders as to the course OF the stock
lristic trend of the market fOr she
metal Some of the low priced stocks
showed a little better tone on the gen
eral theory that they were about due
as they had shown no substantial i'm
provement 10 date.
Hill and Hartman Agree.
Another favorable feature of the stu
alton today was the understanding
reached between Hartman and HIN,
an amicabIe agreement to quit building
into each others territory. and that the
former would use a Hnl. line between
Tacoma and Vancouver, instead Of
building therein. The Hill shares made
but slight recovery = of a point, and
this was Just about the extent of the
reaction in ST. Paul, Union Pacific,
Southern Pacific. St Paul Missouri Pa
cific, and the majority of the rails, al
though in the noon hour St. Paul lost
Its gain and Union Pacific extended its
g small fraction
The Strong Spots.
The particularly strong spots were
Wabash preferred, with a rise from ISIS
t. 1891; Delaware and Hudson with
rise to ls5, or ~ points. Fries. with .
to point advance. and Reading. with
point advance, 10 I55ss. St Louis and
Southwestern preferred was strong at
IL advance.
In the industrials Smelling rose a fun
point. Copper was firm. Car Foundry
ard Pressed Steel Car were both
higher Steel common moved along
SLOWLY until late in the noon hour. when
the shorts covered up to 81, s. net gain
The market was exceedingly dull save
for the spurts here and there, and the
Indications were not especially favor
able for any immediate betterment