Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-09-29
Operators for Higher Prices
Take Courage.
UPLIFT IN THE MARKET
SHORTS RUSH TO COVER ON AP-
PEARANCE OF GOOD BUYING.
Standard Railroad Issues Swing Back
From the Low Quotations
Of Yesterday.

NEW YORK, September 29-Vigorous
support made itself evident in some OF the
most prominent stocks, making a fair
sprnkling of gains among the predomI-
hant losses. Pennsylvania and Wabash
preferred were lifted point. and the Union
Pacific stocks. Baltimore and Ohio. Erie
Louisville. Southern Railway. Missouri Pa
cifc and Rock Island moderate fractions
Four thousand shares of United States
Steel preferred sold at 5Sa. and 80 at tho
opening, compared with o9M last night. The
first 900 shares of the common sold at To-
followed by COO shares at 14Is thus break
ing through yesterdays low record. The
bonds declined Is. There were losses Of a
point in Tennessee Coal Pressed Steel Car
and Sugar. and New York Central fell IS.
Norfolk and Western dropped IA
Prices moved uncertainty for awhile and
seemed more inclined to run off. New
York Central and Atchison preferred
larsed point. Buying orders poured into
the market from all quarters later and
prices rebounded with great violence. Deal
i1,gs on the rally We're heavier than at any
time since the prolonged selling movement
began. Bears took fright at the support
and rushed to cover. Leading stocks sold
from / to points above yesterdays close.
the more important gains being General
Electric, 3; Amalgamated, pa: Union Pa
cifc, Brooklyn Transit and Manhattan. =.
and Pennsylvania, IA. Brooklyn Union
Gas jumped 10 points. Prices fell back a
fraction before IL o'clock with an abate-
ment of the furious activity.
The reaction ran to point in Pennsyl-
vania. Missouri Pacific. Amalgamated
Manhattan. Metropolitan Street Railway
and Peoples Gas, but the advance was re-
newed. The character Of the buying i'm
pressed itself as coming from inside and
large banking interests and had an in
timidating effect on bear opera lions, Penn
sylvania was lifted 2& to 1l7B United
night and net advances of to 21a were
established in Baltimore and Ohio, Reading,
st. Paul. Atchison. Missouri Pacific. Wa
bash preferred. Louisville, Union Pacific
and some others Minneapolis and st. Louis
jumped 3A and Minneap polls st. Paul and
Sault Ste Marie 5. Bonds were irregular
The market felt the effect Of proft-taking
sales for a short while after midday. But
little impression was made on prices by
these sales and the advance was renewed
with greater vigor. Pennsylvania extended
its gain to over three points. and standard
stocks generally gained an additional frac-
ton. The market quoted down again be-
fore o'clock anG yielded slightly.
Business smaller in volume during
the afternoon, and the market lacked the
snap and vigor of the earlier hours. Traders
We're disposed to take profits. but in only a
few cases did the reactions reach near a
point. Pullman advanced and Lacka-
wanna 4. The market rallied strongly before
the end of the hour.
There was some desultory profit-taking
early in the final hour, but prices stiffened
again as on previous recessions and touched
the highest of the day. Pennsylvania reach
ed 119; Amalgamated gained 3a. Brooklyn
Transit 31a and Union Pacific, Atchison
Metropolitan Street Railway, Rock Island
and Louisville and Nashville 3 points or
more. Reading second preferred declined
and American Express 5. The closing was
strong at the best.