The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-02-26
FiRMER TONE IN STOCK MARKET,
WITH HARTMAN SHARES SET
TING THE PACE.

NEW YORK. Feb. Pc p. MN the
last hour the market has become slow
with just bit easier tone and slight
concessions here and there throughout
The list. T. looks at this time as if
the demand from shorts was slackening
and the support had been temporarily
withdrawn to permit the market to
show its real character. There is
nothing in its action that betokens
weakness, just a neutral character, with
no changes worthy of special mention
NEW YORK, Feb. 26, I p. m.-There
was a decidedly better feeling in Sc
Curity circles. The stories concerning
Copper and conditions I'm the market for
the metal were even more discOuraging,
but they seemed to emanate from the
snsiders, who, with acute speculative in
stinct, have, according to reports, mar
keted their holdings on a higher range
and are prepared to accumulate again
around - or Whereabouts. Smelling at
fairs were said to be in a little better
shape. so much so that the prediction
of a regular dividend was made.
Judge Gary, Of the Steel Corporation,
has expressed his satisfaction with con-
dltiOns IN the steel and iron trade and
on the strength OF this the shares in
these companies showed a little better
tone
1t was a case of the shorts getting a
bit nervous and covering. The foreign
situation was considered less warlike,
and London was a moderate buyer, in
stead of a heavy seller.
Taft for Prosperity.
It is generally expected that the inau-
suration of President-elect Taft will be
Shc signal for rise in the market that
will be all the more effective because It
VIII be assisted by the purct asses of a
crowd OF walters who have been hold
ing off for just such a setback as the
market has suffered in the last few
days.
Mr. Taft is giving New York business
rnsn every assurance that his Admins
tration will endeavor In every way to
restore confidence to the business world
and TO hasten the recovery from the
period of depression.
Strong Spots
The strong spots in the rails in to-
days market were Union Pacific, South
ern Pacific, Wisconsin Central, North
ern Pacific, Reading, Big Four"
Brooklyn Rapid Transit, and United
States Steel. All these stocks made
gains varying from 1 to IL points, while
Big Four made 21z net recovery
Pennsylvania made q rise. St. Paul
did not make much neadway. The last
payment on the 500, $50, SCI new stock will
be due March I. The payment will
amount TO Sl9,S96, 166 When this is pdid
in the stock of the company will be
S232. 131 $40, and this heavy capitalization
is having some effect on the stock.
Nevertheless, ii was firm at a slight
fractional gain.
Missouri Pacific, New York Central
Missouri, Kansas and Texas, Louisville
and Nashville, Chesapeake and Ohio,
Chicago and Alton, ano other stocks in
The Gould group made email gains, but
were not especially active.
Metal Stocks
Copper started well but could not
stand the pace, going off e from high
and slightly below yesterdays close
Steel was strong and Ssd@ higher.
SlosS-Sheffeld gained q of a point, Re
public Iron and Steel fractionally bet
1er, Smelter slightly lower.
Business interests find some enCOUr-
agement IN the preamble and resolutions
just adopted by the indianapolis board
OF trade protesting against the enact
ment of legislation that Will interfere
with the ability OF the common carriers
and great industrial companies, legisla-
rion that will inevitably result IN cur
failing the ability Of such companie.;
in their efforts To extend and carry on
their business and overcome the depres-
sion they have labOred under during the
PAST year, believing that If this request
* compiled with il will, in a great
measure, help to restore general bust
ness conditions in this State and entire
country"
Tins is about the first change Of
'front.' against corporations.
Market Holds Well
The market continued firm right up
20 the beginning of the second hour
Of the afternoon. At this hour Steel
common is 435s, the preferred 1O9il. Cop
Ter 65iz, Smelling 50, Union Pacific
USE. Southern Pacific 1863, Northern
Pacific 1855, Missouri Pacific 6674, Great
Northern 1867, and the list generally