The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-06-19
LITTLE INTEREST IN SECURITIES
WITH PRICES SHOWING FEW
IMPORTANT CHANGES.

NEW YORK, June 19.-Close-Tod ay g
market was notable for the naTrowness
and an indisposition on the part OF al
interests TO do business. It was wait
in~ market and the chief subject Of in
taTast and conversation was the pro-
nosed tax on the earnings Of corpora
lions and their regulation by the Gov
eminent. II this attempt should fail
there VIII be an immediate response by
fbe market, while enactment of the
Presidents ideas will be followed by
further. reaction.
Wall street had reached the conclusion
that tariff consideration IN Congress
had passed all dangerous points in so
far as industrials and railroads were
concerned. and that the market might
so on uninfiuenced 10y possibilities re-
suItant from Senatorial debate The
new tact suggested by the President and
accented by the leaders was entirely
at variance with their calculations. AT
hrst announcement there Tas but
sympathetic influence. but as considefs-
tons was given TO the possibilities OF
the scheme. and the attempt maze 10
include bonds, the Street took the mat
ter more seriously.
The fact that Steel is not listed that
# is a case OF of again. on GSain, ana
no one knows the outcome has taken
the piiblic interest out OF the entire list
inr proposition. and the market has
lost this very positive bull influence for
ever unless the actual listing takes
Mace. when it may be again worked
by the Lulls.
A Bit Better Early.
f,,,-;r- tho first hour Of the short ses-
sion the general list was a bit better
averaging through the majority OF
stocks from IS to = point above the
closing prices Of Friday. This better
ment appeared due entirely TO covering
nv shorts evening up on their trades. It
was so general that Sugar ana Smelling
were notable exceptions, the former go
ing of y point and the latter being
barely steady to a shade easier ne
sugar trust is IN bad with the Govern
ussnt, and this Is reason enough Tor CON
servative holders 10 set out OF their
investment Liquidation continued up
TIL near the close of the session.
Gossip on Smelling was 10 the erect
that Lawson was engineering a bear
deal in the stock. The reports from Bos-
ton have not been bullish
Tenor of dispatches from tie West
was generally more bullish than for
weeks past The West went bare Of
stocks weeks ago aad the reaction has
inspired some buying and more conf
dence in the future OF the list
Closing Steady.
Passing into the second hour of the
DAY the demand from shorts seemed 10
let up materially and before the middle
Of The hour the advances we're wiped
out snd the list was about on a parity
with last nights close. Some declines
were sustained but they were unimpor-
tant, other than in Sugar
In the last half hour Union Pacific.
Afchison. and Steel preferred were very
strong. They closed higher. The ma
lorify OF the rails and industriais show
ed unimpOrtant net changes for the SEES
sion. Even Smelling and Copper came
nTHer in the closing Reading was one
of the soft stocks.
Sugar continued ou down grade losing
21a points, or TO 122ls, from an opening at
115 1t subsequently rallied 10 123St
Beet Sugar lost net = point.