The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-11-11
STOCKS VERY SLOW AT DECLINES
GENERAL SLUMP, FOLLOWED
BY SMALL RALLY.

NEW YORK, Nov. IL p. m.-The
market is abnormally Dun, but small
gains have been made Union Pacific is
2e05k: ST. Paul, 15594; Soathern Pacific,
I5SlR, and most of the rails wHhoHt APP
probable change. Steel, COMMON IS
Ssls. Copper has advanced to 5y-s,
point above low.
Sentiment is a little better.
NEW YORK, Nov. 1I.-After starting
with a fair show of strength the mar
ket became rather slow and saggins-
Then, about II go there was rush or
selling and a serious slump in values
This was noticeable in the leading stocks,
rails and industristls, but did not eN-
tend throughout the list The southern
and especially the Southwestern rails
are acting we'll and held their own in
the face of this slump in the leaders
The general run of equipment stocks
also presented a bold front TO the ef-
forts OF the bears.
Once more the Hill stocks gtve bad
exhibition, and their action for month
or longer has given credepce to the
theory that some large line of holdings
is being liquidated. the general theory
being that Hartman holdings in these
roads Is coming out BOth Great North
ern and Northern Pacific are very soft
but the shares of the former road are
making an especially poor showing.
They were weak when the rest Of the
market was strong; they are lower to-
day than they We're last December and
nOw they are the mark OF the list
Great Northern closed on Wednesday
at 1885 and opened at 143 this morning
breaking to 14llz with an absence or
rallying power. Northern Pacific broke
to 1875 or rs and made slight rebound.
After fifteen minutes OF severe uqul-
dalton and decline the market again re-
Sumed its normal attitude of inactivity,
moving slowly. and with but the most
limited price changes
Sentiment Is Improving.
Sentiment on the Street is improving.
Some of the most conservative houses
have ceased TO be bearishly inclined,
and seem 10 favor the theory that this
week viii witness the end Of the bear
market, the low prices of the period.
Others who do not like the market
admit that they do not dislike il, this
neutral attitude being inspired by the
belief that the period of inactivity and
the changes in values have practically
iiQuidated burdensoTne accounts, the
large margin trading following has
largely quit, and conditions are better
for the long-delayed rise. II may be
Two or three weeks, according TO the
opinion. Of the jority of the conser-
vatives before a big rise is well under
way, but II is figured that by that time
money viii be easy again
No one questions the prosperity Of the
nation-it is money that has checked
operation on Wall Street, money and
high prices for cotton, though the lat
ter influence has been entirely of minor
importance.
Slight Rally.
The low prices caused some profit
taking on the part of shorts and modest
rallies were recorded here and there
IN the lief hat v5ffhos7f any a r,r,~aoie I,Io
increase in the volume OF trading. All
through the noon hour and well into
the second hour of the afternoon the
market acted rather tired But the raj
lies held. Some OF the minor stocks
Ike Pittsburg Coal were given cOnsid-
cradle movement but the leaders
dragged and the traders did not like
this feature of the situation.