The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-09-24

NEW YORK. Sept. 24-At the open
ing. she market did not act as II IL in
tended to score advances. It was rath-
er weak. London's heavy selling OF
Americans yesterday did not look we'll
while the lack Of support from insiders
was against the continuation of bull
operations. Most of the leading COM
mission houses continue their neutral
position, advising their customers to
look on for the present. This seemed 60
be the accepted attitude OF the custom
ers Of most OF the commission houses
and the result was inactivity with here
and there throughout the list a little
squirt as shorts covered or buying
orders were filled.
= Even those that are not bulling on the
situation DO not expect to see any sew
ere reaction in prices. They admit that
there is too much real prosperity, too
good crops, good earnings. and employ
ment of industrial facilities 10 near the
maximum. for any substantial setback
70 the list.
The stock exchange governors voted
70 adjourn over tomorrow Saturday
The city is in festal mood and this will
check operations, operating against new
commitments.
Show of Strength.
Following the opening there was a
better show OF strength led by Steel
common in the industrials. and Pennsyl-
vania and Reading in the rails. and
naturally reflected TO the list. This bet
terment gave the market a strong first
hour and well into the second hour OF
the session At the top OF the morning
market Reading was up TO 1875. gain
OF rs, pennsylvania at l4f3 showed a
point advance, while gains in the gen.
eral list reflected the advance to the ex-
tent OF Y point
In the industrials the leader was Steel
common. II advanced 4 of point on
snort covering, reaching S4A. me pre-
ferred responded but weakly Copper
and Smelling added fractionally to
Thursdays closing.
Break Follows.
The strength continued until shortly
after II O'Clock. when the market began
10 settle back into extreme dullness
With this movement passed the strength
of the list The closing prices OF last
evening were quickly reached, and OF
many stocks net declines followed
Louisville and Nashville lost "a: New
Y ork Central. "a Reading dropped bacl
from 1919 to 1854: Pennsylvania TO 1851
Union Pacific TO 2Q29s. Thursdays close
Southern Pacific lost Y net and NAM
declines OF 5h0sl resulted. Third Avenue
the public service board declined
point The industrials settled back witt
the rails and the whole list became SLOW
and embarrassing
Rather Better, But Dull.
During the last half Of the noon hour
the market showed a little more latent
strength. many of the losses being re-
covered. with the average prices prac-
tically where they were at the close or
Thursday. There were exceptions or
the side OF strength. Pennsylvania
again DEVELOPED a irm tone and gained
a net; Steel common was z higher
Smelling was = higher. and Canadian
Pacific moved UP 2. AS a whole the
market was extremely dull, as IL passed
into the second hour Of the afternoon
ST. Louis and Southwestern, Southern
Railway and Delaware and Hudson
were weak.
Central Leather was firm on eXpecta
lions as a result OF a meeting this after
noon.
A membership sold yesterday for $50,
900 Indicating q large advance