The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-11-04
HgGade Rails Lo Cornone Strong
NEW YORK STOCKS WERE ERRATIC.
SOME STRONG SECURITIES.
OTHERS VERY WEAK.

NEW YORK. Nov. 4.-The late squirt
yesterday brought bunch of selling
orders on the London opening and gave
the local market more stock to absorb
Financial interests are not satisfied that
il is wise 20 advance securities at the
present time. The sentiment on the
Street is against and opposed TO any
severe movement in any direCtion-an
in and out market, rising and falling
while holding around present values
would be more tc the liking of the fin
ancial maCnates OF the Street Trading
Is stiH in the hands Of the professionals
and commission houses are doing little,
while there is but little actual reinvest-
mcnt of November disbursements.
Most Of the reactionaFy. losses covered
the late gains of Wednesday. There
were exceptions. and they were chiefly
in the Steel shares, both the Steel Cor
poration and Independents acting wen.
There is talk anent bull movement
in Steel common that win soon start
from about present levels, although no
one knows lust why these securities
should start the rallying movement,
other than because Of the great activity
and higher prices for industrlals gen
erallv- While this talk was current the
eqlIipment stocks and COppers displayed
a disposition to lag. Smelter took new
start, and the Street has it that Lawson
is promising something big In the way
of a bull campaign in the stock
Missouri Pacific the Strong Stock.
In the rails Missouri Pacific was the
bright shining light with a point gam
In the face of concessions averaging
from = to p of point. At the other
end Of the line in an unenviable position
was New York Central with rs net
loss. Baltimore and Ohio sUbsided al
Ell all
strong. Union Pacific lost e. out re-
covered TO the average loss IN Jhe rams.
The Bank of England did not advance
rate of discount. The only unIaNofdDte
feature of the London situation was the
taking of profits by buyers VINO aecu-
INFLATED holdings week ago
Locomotive Company PrOspers.
Of6cfals of the American Locomotive
Companv saw that they are doing good
fn1siness at the present time, but would
he doing more were il not for the
fact that they are having tro2oie
to obtain material Tor consul uC-
ton With the amount or ofoeL9
now booked. the plants OF the CON-
pany will operate at about 20 pc
cent of capacity for November. Dcceil-
Der. and January. This compares VIZ VIZ.
an operating percentage o. SDout % -
cent for the same period last year anu
less than 50 per cent Tor OctoteL tllS
lar. As the company Is constantly NJ
n easing the CapaCltV OF Its DtttEtSr THESE
figures do not adequately snow the I'M
provement which has taken place
Prices Tor locomotives are gradually go
ing up with the price of materials,
As the session moved on some OF lllc
rails and industTiais displayed a better
tone. Union PacilC frequently turned
the 202 and reacted again 10 a par
with tie closing OF Wednesday Soulh-
err Pacihc and ST. Paul did about the
same thing, not varying more IMAM a
small fraction. Colorado Southern ADDED
a point to its price. Missouri, Kansas
and Texas was steady andNWlJhOuI par
3 ticular change. Missouri Pacific cOntlh-
ued its advance until it touched Il
The Weak Spots.
The weak spots in the rails were New
York Central. Erie. Pennsylvania. Read
ing. Baltimore ana Ohio. St Louis and
san Francisco, and Rock Island. Here
the declines varied from = point 10 a
point ana a little more. The Hills were
OF the minimum average
In the industrials steel common
touched 81 and held &403s net advance,
the preferred being slightly stronger
Most OF the steels were strong. Coppe,
after Going OF early, rallied well.
Shelter was pushed above 100 10 1903.
with slight setback. 1t held splendldly.
General Electric lost 2 points.
Car Equipment, Locomotive and Car
Foundry, with Pressed steel Car were
Inclined TO be a bit slow, but rather
STEADY.
Steal