The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-06-25
STOCKS WERE WEAK AND EASIER,
LACKING ACTUAL BULENEWS.
SOME RECOVERIES.

NEW YORK, June 25.-Stocks made
= fairly good start at slight reductions
hut the weather or something else took
the starch out of 1t in comparatively
short order. one of the other things
uss the engagement by the National
civ Bank Of S90O,OO0 gold for Europe.
This is Just a starter, and while the
movement may not so much further
because OF the exports of wheat and
other produce, it was a Earring note in
a situation that seems to need a con-
slant bracing TO enable il 10 hold its
own. The gossip was to the effect that
the decline that followed after the open
ing was not important. that it would
be recovered in comparatively short or
der an opinion which may or may not
be well founded. Railroad earnings are
showing up well. Canadian Pacific for
the third week in June increased 1884, 600;
Missouri Pacific for the same week in
creased $4,000. The central branch of
the Missouri Pacific for the third week
of June increased 5000. and Texas ana
Pacific's earnings for the same week
increased SIS. go. London was heavy.
There were rumors of trouble with
metal firm and the list was ltqs be-
low parity. The dropping of the Fed
did not have any effect on the market.
Segregation of Hartman
The segregation of the Hartman
stocks is certain" said a broker this
morning, when Hartman returns"
this announcement viii be made, so
runs the story. This is in keeping with
the idea that it has come to the time
when Il must be a case of something
doing" It is even reported that the
segregation of New York Central-Lake
Shore Michigan Central-Nickel Plate-Big
Four properties VIII be consummated
when Hartman comes back
AS a matter of fact II is rot only pos
sible, but IL is also probable that the
taking Of liberties with the market may
result in losses TO the shorts because
the insiders still have the market under
control and can punish short sellers on
short notice.
There doesn't seem t. be any prob
ability of a tightening of the money
market. Disbursements Of S21S 100000
Will be made on account OF interest and
dividend payments July / Much of
this money may be reinvested, the bulk
OF it viii go back into regular chan
nels, but a considerable part of it will
not get back TO New York.
Good Crop Reports.
There was encouragement in the crop
reports. President Brown, Of the New
York Central, was enthusiastic regard
ing the outlook and it becomes more
evident with the passing of the days
that the estimates and reports Of Sec
rotary wilson's department will be
much nearer correct than the speCula-
tive estimates Of the wheat pit in Chi
cago.
BY the beginning of >the noon hour
prices generally were on from y 10 a
point in the rails and fractionally in
some of the mdustrials, Copper being
of rs. Some OF the rails were much
harder hit than others. Union Pacific
broke from a close at i94 yesterday TO
Reading was a point of, NippeT ~, New
York Central =. St. Paul 3, and many
stocks from = 10 point down.
There was no especial pressure TO sell.
but the fact that the market yielded so
readily increased the pressure.
Better On Short Covering.
And then in the noon hour and up TO
the beginningof the second hour of the
afternoon the market assumed a better
tone, with the shorts taking in their
profits and with advances Of 5zQs4 OF a
point in the stocks that had suffered
the most and smaller rises elsewhere,
with the exception of the Steels which
did not show any activity worthy OF
mention Inc preferred stock was
steady and the common y point net of.
Reading, St. Paul, Southern Pacific, and
the leaders were 14Mia above low, Union
Pacific being = better than low or at
1881.