The Washington times., 1909-08-05
MARKET HAS A FAIR UNDERGONE,
BUT FRACTIONAL DECLINES
ARE GENERAL.

NEW YORK. Aug. 5-There was a
moderate degree of activity on Wall
Street, and yet a little uncertainty IN
the trend of the price list. This was
largely due to the fact that the Street
was nervous over the possible action
Of the market after the passage OF the
tariff bin 1t has .ong been observed
that the actual occurrence Of anything
in the news line has been fully dis
couraged before the finale, and thereat-
ter, as a rule, prices turn on the down
grade.
A close observer Of the market during
the last few days might have noticed
considerable unloading, distribution OF
stock. Despite this there is still a good
undertone TO the market, and there
have been no recessions worthy OF con-
sideration as compared with the big al
vances. Here and there bull pools are
operating. Reading is showing the ef-
fects OF the big melon in Delaware
Laekawanna and Western, and Atcni-
son is predicted for gain on excellent
crops. The news OF the day contains
nothing that is not strictly Of an en-
eouraging character-in a word there
was no bad news.
West To Finance Harvest.
Frank A. VanderIip, president Of the
National City Bank. Is back again at
his desk after a vacation Of nearly
month in the West He says his trip
was entirely one Of pleasure and rest,
but while there ne could not help
noticing the fiourishing condition Of the
country as represented by the crops
and the banks. The former, he said,
nronised 10 be bountiful and as re-
CARDS the latter they appeared TO be so
well supplied with cash that they would
probably not take very much money
from the East this year TO finance the
harvest.
With one or two exceptions American
stocks jn London were heavy and low
er. Copper stocks We're under pressure
and the mining department was unset
lied. Chicago Great Western was the
conspicuously strong exception and is
very evidently being worked higher to
give an appearance Of success to the
reorganization plan which has hardly
been received with enthusiasm. Money
continues fairly easy IN LonQon ana Is
likely 10 remain so Tor little time 10
come, although the Bank OF England 5
return was not strong as in the recent
past.
AtchisOn'S Good Year.
Atehison closed the fiscal year with
gross earnings OF S9l. 265. 100 as compared
with ss0,6l7,7O0 the year before, and
Ss4,sss,200 in 19o6-05, the best year both
in volume of business and in profits for
the stockholders in the roads history.
Last years earnings were only $3.50
below the best that the road ever made.
& difference of less than one-tenth OF
one. per cent. Net earnings of the year
st, go, 500. were not only S., IS, 500 better
than foi the year before. but were
Sl197 800 ahead of the roads best year.
Fractional declines were general
throughouf the leading rails and indus
trials. IN some cases the reactions were
more severe. II was a case OF taking
profits here and there, considerable get
ting out of Union Pacific, Southern Pa
ciic and St. Paul, Hills. etc.
Late in the second hour OF the after
noon there were stronger signs Read
ing came TO the front with a good
strong start, evidently on covering by
shorts. The whole list stiffened and the
indications were most favorable Read
ING sold TO 1915. Southern Pacific ~
1854
Missouri Pacific touched a. this good
gain being on the expected financing
scheme of the company which viii in
ure for the benefit of the stockholders