The Washington herald., 1909-01-13
MARKET IS LISTLESS
Only Activity in the Last
Hours Of the Day.
RECOVER AFTER THE OPENING
Quotations Slightly Lower Than at
Mondays Close, and Market Takes
on Idle and AinIesS Appearance,
hat Later Hardening OF Prices Is
NOticed-CIOver Leaf Stronger.

New York, Jan 12-Save for feverish
movement of prices in the last three
quarters OF an hour Of the stock exchange
session which curiOusly enough concerned
itself with both sides Of the speculative
account. the stock market to-day was a
more Ustless and peTfunetory affair than
Il has been any tine since the first OF the
year.
A. the very opening quotations were
perhaps a little lower for the greater
number OF stocks than those at the close
yesterday, but they quickly recovered
and, from then on until toward the end
OF the day. the market drifted In an Idle
and aimless way. being the subject
neither Of speculative attack nor on the
other hand evilioi2e =raUying power in
any manner.
Such state Of affairs Of course left
the position Of the market open TO Two
interpretations. one that the declining
movement had run its course and that
the market had become 10 a greater or
less extent sold out. and the other that
the large speculative interest that has
been at work trying 10 accomplish a de-
cline in values was merely staying its
hand for the time being.
Operators Go Home.
However. the prevailing tendency Of
the market toward duIIness was so pro
nounced as 70 induce a fairly large num-
Der or professional operators 70 leave the
scene OF action In disgust before the end
Of the business Gay. In the last hour
OF business a gradual hardening Of prices
began to be noticed which led IN a short
tine 10 a sharp, upward move in prac-
tically all Of the standard shares: but
before the end OF the session the market
again declined. this time under the in
hUence apparently OF further pressure
20 sell the Erie stocks which had been
earlier in tie day rather notably sus-
pended.
II IS very natural under the circum-
stances that there should be- more or less
uncertainty in the financial district re-
gardin6 the prospect Of the various Erie
securities until the public service commits
sion Of the Second district takes action
upon the application OF the Erie Company
10 make an issue Of collateral trusc bonds
The grounds OF this application are SO
Just that it can hardly be doubted that
when the members o. the public service
commission fully appreciate them Iley
viii grant the desired permission
Events Worthy of Notice.
Events to-day OF financial interest com
prised what appeared 10 be q definite an
nouncement al last that the Turkish gov
eminent has accepted the offer OF Austria
OF Z fixed cash sum in settlement OF
claims connected with the Balkan diff
Guilty, the declaration by the directors Of
the Chicago and Alton Railway Company
OF a divident OF 2 per cent on the com
mon stock, and the engagement Of s1.e69. o.
GO OF gold for export, making 8, So, 81
that VIII be sent abroad by tomorrow
steamer
The increase of the Alton dividend wes
expected, and appeared to-day 10 be
pretty vel discounted in the price OF the
Alton common shares. although not III
Toledo, -. Louis and Western common
stock, inasmuch as Il was apparent trat
Il the Alton common stock could be cor
sidered as on a / per cent dividend basis
the fact would entail the receipt by the
Toledo. St Louis and Western company
Of a sum equivalent 10 IS per ceur on
the cOmpany's common stock Therefore
the Toledo. St Louis and Western com
mon shares to-day, popularity known as
those Of the Clover Leaf Companv
shared vigorously in the afternoon rise
IN the market