The Washington times., 1909-09-07
ONE TO FIVE POINT DECLINES MARK
INITIAL TRADING~-AN-
OTHER RALLY.

NEW YORK, Sept. 10 p. MIN the
last fifteen minutes the market has raj
lied very sharply. The shorts tried 10
cover and the result with some addi-
tionaI evidences OF support turned Union
Pacific from l77h to 1881. Southern Pa
cihc Is now 126h, Reading 1909, Steel
common 7els. At this time the market
is very dull. The rally was unexpected.
following close on a weak spell
NEW YORK, Sept. with the opening
OF the Exchange there was a great
rush TO sell stocks. The tenders OF the
bears were quickly absorbed. and the
low OF the opening proved 10 be the
low Of the morning in many OF the
stocks. II was evident from the tap
OF the bell that stocks were being sup
ported, and this fact had quoting.
discouraginE effect on the bears. OF
course, there were stop orders reached
here and there throughout the list, but
as a rule the selling was speedily
checked and during the second
hour the pace was not especially
fast II WIS also noticeable that the
support. willing though it was, did not
seem to be necessary.
II was also evident that there was
no such nervousness as was shown IN
the last drive on the list following the
return OF Mr.. Hartman from abroad.
The market on the whole, other than
on the HaTimsns, suffered only such
declines as might be brought about by
a traders raid, and after the lapse OF
an hour there were but few stocks
offered. ana the market settled down
to almost normal conditions Reading
IN, e
stock making little Roadway in its COW
ering.
London Sets Pace.
London set the pace. Many New York
ers commenced their selling on the 9TH
er side Declines Of one TO five points
we're shown in the active list, practical
ly a reflex of later operations here
Tile first sale OF Union Pacific was at
la7ls, a loss Of a., then recovered to
1885,, and dropped back 10 19sls. The
opening was Irregular, the post sales
varying from the low to a point above
n. Southern Pacific lost 5i4. and re-
covered = with more or less fluctustion,
and a net loss by noon. New York
Central started at 1876, and dropped 70
1854, rallying to 1854, Us loss.
Nipper lost liz. recovering TO a net
point. Great Northern was off point.
freely at 1894 70 $50 to 1875 to 1891, Is
compared TO 1875 on Friday
The other losses we're not serious.
Many Z and y breaks were recorded,
some points. and some little greater,
but nothing serious.
IN the industrisls the declines were
rarely beyond fractiOns-unimporta for
2 day OK as much nervousness and ,sx-
element. Steel common started the dav
at 7sss or III off and rallied 10 1898 and
1914. The preferred Was OF "a.
Passing into the noon hour the market
was dull and steady. The days COUP
rad not been anything as serious as the
last break. The absence of any short
interest except in a few stocks was
against the market but the support
checked the selling desire on the part
Of hears
IN the noon hour the market remained
rather dull. but the support being alb
sent. Il gradually essed off and IN the
second hour went back 20 practically
the low point of the day or Union Pa
cifc, i9Iik l9pz on Soutl ern Pacific,
1904 on Reading, 1874 on Steel common,
eSE on Smelling. S3l7 on Copper. rs
on Missouri Pacific. slightly OF on the
Hills, and generally easter all around
The Street expects easier prices before
the close OF market unless the support
s. again forthcoming.