Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-25
AFRAID OF MARKET
Professional Traders Seem
Content to Look On.
AN UP.AND-D0WN GAME
Gains Made in Early Trading Wiped
Out in Afternoon.
HARDEN IN DULL PERIODS
Erratic Movements of Prices Keep
Wall Street Guessing-Rail-
roads Prosper.
AN UP.AND-D0WN GAME
HARDEN IN DULL PERIODS

Special Dispatch to The Star.
NEW YORK, February 25-The incon-
sequential character of the profess onal
dealings in the present stock market was
pretty well illustrated in todays session.
A somewhat higher range of prices for
our stocks was established in London
before the local opening, and in the early
transactions here trading shorts were
briskly forced to cover. AS soon as buy
ing of this kind had been completed quo
tations began to fall. and as they re-
coded activity slackened.
About 100000 shares we're dealt in in the
first hour, the bulk Of this volume of
business being contributed by the first
twenty minutes or so. From the first
hour until we'll into the afternoon the
market was as dull as it had been on any
preceding day this week, and. as on the
previous occasions, prices appeared to
harden during the prevalence of dullness
Prices Sturdily Advanced.
1t is a fact worthy of some notice. per-
haps, that by markets of this kind the
level of quoted values has been advanced
this week to the highest point since the
decline was stopped more than two weeks
ago. Much of the early forenoon activity
today was in United States Steel, as well
as in Reading and Union Pacific, but the
speculative contingent in Wall street was
apparently more content to watch the
course Of prices than to follow them up.
Railroads as a whole declined. perhaps.
more rapidly than the industrial, or
rather receded from initial advances, the
Industrial stocks being characterized by
uregularity more than by any definite
movement.
In the early part OF the afternoon the
majority of active issues, which had sold
in the early trading at gains over last
nights close, were quoted at net losses.
which were most active. however. in
Louisville and Nashville, Reading. st.
Paul and Union Pacific, issues that failed
TO make initial gains.
Market News Scarce.
News was a scarce commodity. The
award of So. 900 to the Brooklyn Rapid
Transit Company, in litigation against one
Of it's underlying roads, explained the rise
of the last few days in the stock, but its
announcement was followed by SUBJ
stantial recession from opening figures.
Reports were current that sales Of cop
per metal. aggregating 100000 pounds.
had been made this week by some of the
large agencies, but nothing was said about
prices. Movements in the grain and cot
ton markets were interesting, but were
not reflected In the dealings In stocks.
Such reports of railroad earnings as
were made showed the continuation of
large volumes of traffic. Conjecture ac-
counted for the rise in Pittsburg, Gin
cinnati, Chicago and st. Louis common
stock, on the theory that perhaps the
Pennsylvania control was being inc eased.
or at least that the Pennsylvania sane
ton of the new issue of Panhandle stock
at par indicated that il was worth a
higher price.
Foreign exchange was somewhat easier
IN the early dealings Otherwise, money
conditions showed no change.