The Washington times., 1909-03-03
DULL, UNDRESSING DAY IN
STOCKS, WITH PRICES GENERAL
LY HALF POINT OFF.

there was scarcely any Improvement in
the volume of business the market grad
ually became a. little firmer, but even
the price increment showed but slight
change.
A steadier tone prevailed and u points
recoveries were quite general through
out the list. Reading at this time is
but Il point off net, Union Pacific IS.
Southern Pacific IS. ST. Paul but q
off and other stocks fractionally above
o'clock prices
Smelter was still point off; Copper
rs, and Steel common but - net below
the final figures OF yesterday.
u was still a decidedly dull, uninter-
esting market.
NEW YORK, March S.-Hesitation
was shown Immediately on the open
ing Of the market, with concessions
quite general throughout the list, with
the metal stocks especially soft. Lon
don was a seller. and many buyers dur
ing the last few days decided that It
was = bout time TO take in their profits,
this liquidation reaching considerable
Importance with the immediate opening
and continuing for nearly an hour.
Thereafter the market settled down
70 inaction, the ticker moving slowly
There was nothing Of Importance in the
news of the day AS things usually go
by contraries. there seems to be a belief
that the predicted rise on the retirement
OF President Roosevelt may not mate
ria1ize. and that it would be best to
anticipate the failure and not wait until
tomorrow
Profits Attractive.
Profits on paper are attractive these
days, much more so than they were
with the Hartman crowd under the list
booming stocks day after day, daring
the bears TO make any play. At that
time there was also an army Of trailers
following the leader. and making money
on the upward turn. This following re
Ceived a shake-Out on the break Incl
dent to the open market in steel. and
mas not been aggressive since then.
The sales from London nave caused
some suspicion Of late, the more so as
they reached such proportions that they
seemed to forbid the conclusion tina,
they represented foreign selling OF
Americans. There was just one other
conclusion to he fOTned-that AmeTi-
cans were selling via London, hoping
thus TO disguise the sales.
One OF the chief influences of a bear
jsh character this morning was the very
light subscriptions TO the New York
first time in months, in over a year
hesitation in the bond market.
Then too there wus some fear Of a
strike in the anthracite mines despite
the independent attitude Of the com
panies controlling the mines, perhaps
d little more aggressive because of the
large supply of coal on hand and the
near advance of warmer weather
European Situation Dangerous.
Perhaps the most potent influence ii
causing tke dullness and slight reces
sions, aside from profit-takipG. was the
European situation, the Balkans being
rather engulfed in storm with threaten
ed thunder of big guns and lighting Of
war fires.
As the session advanced the dullnes!
after the first hour or so held verl
steadily, moving within the narrowes
of ranges and without enough doing Il
interest the professional room traders.
Steel common opened at 442z, los:
Of =, and stopped at 4f7s, after rising
10 40 and going off to 44Ss. The pre-
ferred was very steady Cope
broke to 695s, after opening at 7o2s1 1012
and then rose TO 7054, making about Z
point loss. Shelter was Ia off Ana
conda fractionally lower.
in the rail list Southern Pacific wa!
off q. St. Paul, rs; Union Pacific, q
pennsylvania, a; Reading, a point
Northern Pacific. Great Northern, Hi
nols Central. Missouri, Kansas, anC
Texas, Atchison, and Baltimore ant
Ohio from a fraction TO Y point. Fries
4 lower, and Canadian Pacific, H. off