The Washington times., 1909-02-04
No AcU Ne York Stock Market With Trend Generally FaUornq Lower Prices
VOLUME OF STOCK TRADING LIGHT,
WITH PRICES GENERALLY WEAK
AT SLIGHT DECLINES.

NEW YORK. Feb. Al 70. m.-Dulluess
is sill the principal feature of the stock
market, duIIness and an lndispOsiJiOu %
move much either way. The market
looks wOIbIv and acts as IL II was just
about ready to turn one way OF the
other on short notice, AMI yet the
chances are suU against its turning very
much iu either direction. Pending Ger
tain important eyenualities 10 Is TO the
interest OF the Hartman Rockefeller
crowd TO keep things just as steady as
possible.
The Investigation into the Tennessee
Cold and Iron sale is not 90 the liking Of
the market, and the developments of the
last few days have rather hiudered any
disposition toward an advance. From
Chicago, ont West, comes the story of a
S-.503,0C0 steel company starting To knock
out the big trust, and the telegraph tools
were probably paid day press rates.
whereas a steel company with that
amount OF capital is no more nor less
than veritable nothing. il might have
grown years ago, but not much in these
times. Indications do not point 10 any
additional acquisitions by the United
states steel Corporation in the near fu-
tare.
With the immediate opening there
was a moderate selling pressure in the
standard issues ana slight PecessiOns
were The rule.
Gould Issues Firm.
The Gould issues are again being used
10 sunep the backbone OF the market.
The floating supply Of these stocks Is
very light, and it is an easy matter
90 give them a twist for q point or
TWO, especially Missouri Pacific which
seems 10 have many friends around 20
go Ilz.
The fact that the Consolidated Gas
Company has finally yielded to the in
evitable, and is 10 give up the millions
that have accrued since the appeal of
The suit save this stock another blow,
and u touched a new low at 1l5la or
5'4 off from yesterdays hnal figures.
This was not good for the general mar
ket, but n was only secondary in its
eucCt-indlrect, as il We're.
Smeiting and Copper gave the market
a IolJ by dropping nearly point, even
though they did recover later on. This
backing and films SENS to be char
acteIiEtic of the market these days,
Reading Weak.
Reading was one Of the weakest oil
the rails, and this was not at all un-
natural The fact that a decision in.
the commodity clause is forthcoming isl
expected TO cause some uueasiness.
Reading opened at 1924, and eased to
1905. Union Pacific was erratic. and at
one time rs of 10. a recovery of all but
O. OF the loss later on. St Paul q of,
New York Central s. and Hills =.
Most of the leading rails that head the
list, Baltimore g. Ohio. Atchis0u, Ca
madam Pacific. AMI Colorado Southern
were very quiet
u wasn't q good market for either the
bulls or bear.
The list eased of in the noon hour. but
tho declines were only fractional. Steel
common was just q bit soft but the /
fact that this was the last day for the j
employees to subscribe for Steel Corpora /
rion shares probably helped the stock 4
quite q bit Concessions ina prices for /
product are becoming general accord
ms TO reports from Pittsburg-
n j.. and T. finished the FIRST half /
of the current year with the surplus /
available for dividends just about cut I
iu two. The operating expenses were
nearly $4,000 greater as compared with f.
Sf59. $50 year ago. Taxes have doubled, .
and there are few roads i'm the country
that have been so hard hit. Net earn
luEs decreased about $4,000.