The Washington times., 1910-02-25
STOCK MARKET SLOW, IRREGULAR.
SOME LATE RECOVERIES
IN THE LEADERS.

NEW YORK. Feb. 95.-After the good
cIosjnq on Thursday the street was in
riined 10 look for better buying and con-
tinuad strength, but in place Of
steady. uniformly strong opening the
market gradually developed spotty
condition. Here and there were evil
dences OF excellent strength. while else
where in the list were weak spots, and'
unfortunately, the weaklings were
Reading and Union Pacific, actual mar
ket leaders in practically all movements
cor many weeks. While the reaction
raay have caused some surpr<e, yet
he movement in Reading was in line
with the character Of the fluctuations
for weeks One day II is taken in hand
and run up L. 10 or better. and the next
usually strikes a low level around los'
with repetition of the program every
other DAY. Today was the l6S day, as
the stock closed at 10 yesterday and
ouened there this morning Some large
lots were iiullidated and the heavy SELL
broke the price from 10 down, not 10
ies, but 10 1881, and as the selling let
up Il recovered slightly.
With Reading going on 1t wHs diff
cult for the list to present Slrohs
front Union Pacific, despite the goou
showing in the case of Southern Paciuc
VS. Union Pacific, was also weak. break
5nr q net point. The weakness in Read
iuC and au attempt TO take prohts ny
some of the buyers Of earlier Gays iH
the week, i'm anticipation Of the recoE-
cry that would come when the stock
beronIes ex-dividend. next Tuesday,
were responsible for the break. ~. Ptui
was off about a point and Southern IA
rifc was weak but otherwise the leading
rails d!d not show especial weakness
81 Tlr
tians here and there, nothing worthy OF
special comment
Some Strong Points.
Pittsburg. Cincinnati. Chicago ana ST.
Louis, commonly known as the Pan
handle" vas very strong and higher.
4 block Of 1900 shares sold, an unusual
" large order, for this stock is held
very closely and largely by its owner
the Pennsylvania The pointer in this
case was official and came from the
Pennsylvania Company in the purchase
by the latter of an allotment or new
stock at par, the argument BENG that
unless the stock was worth par tn'
Pennsylvania would have adopted some
other plan OF financing the new issue.
Norfolk and Western sympathlZed
with Pan Handle and advanced from
- close at lGlls yesterday to 1925, but
after the rise eased off again. holding
ers are out on Louisville and Nashville
Htll shares were very slow =
InduStTials.
in the industrial list Steel common
put up a good front following the open
ing, reaching SIS for high, after which
It eased off, but was no lower than
at the close on Thursday. Cotton OIL
g point higher, Air Brake = off, and the
Copper and Smelling stocks found a lit-
Tie trouble in holding their own
The volume of business did not In
crease, save in the leaders. and after
the first heavy selling Of Reading, II
gradually quieted down
Interest in the Philadelphia situation
vas intense and many Inquiries were
sent to the City Of Brotherly Love, ask
ing for latest information on riotnE,
strike spread possibilities. etc.
4 better feeling developed in the noon
hour and continued through the second
hour of the afternoon. The fact that
reWs from Philadelphia was more fav-
orable and the IeSsened offerings OF
Reading and Union Pacific were prob
ably responsible for the Improvement
At the same time the volume of buSl-
ness did not increase materially. nor did
Union Pacific recover its entire loss
only about Z point recovery from the
low being made Reading, on the con-
trary was nearly hack to the old mark
16gss leading the hcttermeut again
Rails generally were 4 10 Ss better than
noon prices.
Steel common became frmer selling
TO Eiz. or q net advance. Other IN
dustrials little better.