The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-06
MANY STRONG SPOTS IN MARKET,
THE HARRIMANS LEADING.
DIZZINESS GENERAL.

NETWORK, July 6--Today's market
was netther broad nor especially strong.
There were both strong and weak spots,
and the latter were more numerous.
It has come to a final negative with
the proposed listing of steel common on
the Paris Bourse. The French minister
OF finance has so decided, and there is
nothing but for the American priIcl-
pals who were responsible for the at
tempt TO make something out OF the
listing TO call il off The proposed list
ing and the reported actually had a
temporary effect in advancing Steel
common on the market, but the stock
is good CROUCH in its own name and
on it's future without depending on the
French to take an interest in it. The
mistake was made in that a premature
announcement Of actual listing was
made.
The certainty Of the corporation tax
measure becoming a law had some eff
feet on the list the more especially on
the second grade stocks
There was no evidence Of weakness
in the high grade shares, the Harri-
mans. Hills. and Vanderbilts. They
showed good tone, scored some advance
and were reasonably strong, although
New York Central did not hold we'll
neither did the outside prices on the
Ifarrimans.
The final ending of the proposed Steel
listing had a sentimental effect on the
list-thats all. just why It should IS
2 mystery. The fact that the corpora
ton Eas been making its enormous i'm
provements and betterments from earn
ings, ard the certainty that the COM
mon will one day get great snare or
the net earnings should make it worth
more money.
Lacks Vim and Energy.
That the market lacked in vim and
ginger was a disappointment TO that
portion OF the speculative element that
looks for and wants continuous daily
rise. They had counted on it after the
adjournment and disappointment was
natural The 2-cent tax will not hurt
the big corporations seriously, although
it viii hurt many Of the miner COM
panies-
News as to the Improvement of busi-
ness Is encouraging, Crop reports are
excellent and the Government showing
10 be made -ublic with Thursday will
probably confirm frlly the expectations
of good yields in wheat and corn sec
tons
Southern Pacific Strong.
No new stories were put in circulation
ADQde tN5eAlA4AlG TIE SbiiAEAlllllE SDlAlliies
on Southern Pacific. but the stock acted
right, opening at 1894, a rise OF IL
,soints. dropped 10 1929 and recovered
I. point Union Pacific was 8 higher at
1854. rose TO 1851 dropped back to 1919.
and rose TO the top price again St
Paul was steady. Reading was q higher
TO barely steady, selling at 80 To 1854
10 1919. back 10 1874. Great Northern
was 5 higher. Delaware and Hudson
rose IA Copper firm at 50 TO S31z, a
q rise. Smelling s, a = better. These
stocks were the leaders il strength.
The operating income Of the Rock
Island increased in May S500.214- Great
Northern for the same month increased
Sf0ls05 New York Central increased
S614 739. Atchison increased S5I4 go
The Street Is under the impression
that dull market may be expected for
the remainder OF the week. The bears
are not inclined to take much liberty
with the list, and dullness increased as
the session advanced.
Steel common broke from 691k TO ssh
and rose x The preferred was y off.
Missouri Pacific q lowe-; New York
Central q, and many OF the minor
shares Z and y lower.