The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-02-25

New York. Feb. 2.-For the greater
share of the time to-day stock exchange
activity was on a reduced scale even from
- that OF yesterday when it was more d.
minished than on any previous day In
SAe last seven months. Nevertheless, the
tone throughout than it did in the pre-
ceding session even If one the other hand
It had TO be admitted that the majority
OF the prominent issue seemed TO rise
only in a sympathetic way as the result
of strength in one or two specific stocks
Toward the close Of business the mar
ket broadened and dealings so increased
that taking the day as a whole trans
actions were in excess Of those Of We'd
nesday. 1t was still obviously profess
sional market and one in which specula-
tors finding that prices did not decline
easily and that two or three particular
stocks seemed 10 be moving upward for
special reasons were inclined to make
moderate purchases Of other issues The
particular stocks noted as those showing
strength were the Louisville and Nash
vile, Brooklyn Rapid Transit. Colorado
and Southern, Southern Railway pre-
ferred, and the Atlantic Coast Line
shares.
Later on when the buying became
:. more general the rise extended to the
Union Pacific. Southern Pacific, Atchison.
and other standard shares
Fluctuations Are ShadOwy.
But even here the rise was such as to
suggest that It was only IN consequence
OF trading operators who had discovered
that momentarily the market moved up
ward with greater facility than it did
downward. Presumably also the retire
ment of more or less considerable short
interest that has accumulated during the
heaviness Of the market I'm the last two
or three days played some part in the
recovery. The advance in the Louisville
and Nashville and Atlantic Coast Line
stocks provoked the renewed circulation
OF old rumors as to rights that might
possibly be forthcoming upon the stock
first named. Further talk OF an increased
dividend distribution by the Brooklyn
Rapid Transit Company was responsible
for the advance IN that companys stock.
But aside from this there was no news
or stories to account for any Of the
price movements TO which reference has
been made.
The Reading common shares today did
not seem TO be particularly affected by
~the official announcement that the Phila-
delphia and Reading Company had ISSUED
an order reducing the working hours IN
some Of its departments because Of the
slowing up of business. Such a state
ment was. upon the whole. unexpected
at this time, inasmuch as the general sup
position is in view Of the severity of the
winters weather that the anthracite trade
has been lourishing.
Rubber Shares Active.
in the foreign markets to-day the only
feature appeared TO be a continuance of
the furious speculation in London in the
shares OF rubber producing companies
which has lately occupied such a proml-
nent place in speculative operations in the
British capital.
The Bank of England's report Of a de-
crease in It's proportion of reserve to
liabilities as weekly estimated from 53.O3
per cent last week "a 51S7 per cent at
tracted attention only as a routine de-
velopment; and similarity II seemed to be
regarded here as an unimportant matter
that sterling exchange was very strong,
leaving It altogether probable that more
engagements of gold for shipments TO
South America from this city will be an
nOuncfd IN a short time