The Washington times., 1907-12-30
NEW YORK STOCKS
IN A GOOD RALLY
investment Buying a Fea-
ture-Advances Extend to
1 to 2 Points, With Union
Pacific Leading.

NEW YORK Dec 3O-Close-During
the last hour there were some slight
reactions, but on the whole the mar
ket was strong right up to the close
of the session. The fact that there
seemed TO be but very little public in
terest caused a slight reaction. Lon
don sold 5000 shares Of Union Pacific
and like amount Of Union Pacific The
recessions were confined TO fractions,
and the closing was steady but dull.
NEW YORK. Dec. 3O-I15 p. m.-Con-
ditious were fairly satisfactory on the
stock exchange this morning. the better
feeling noticed on Saturday being again
in evidence. Brokers and commission
houses are feeling much encouraged over
the probabilities Of the early weeks of
. lstS-perhaps on the developments and
possibilities Of the year itself. They
have been inquiring among the bank
ing fraternity for an expression as 70
the probabilities of calling OF loans and
have Let with such replies that they
feel somewhat reassured. The good
bank statement cutting down the deficit
of the associated banks of the city fully
one-third, and the prospect Of specie
payments all over the country within
very short time is a help TO optimistic
tendencies.
The main nope Of the stock market,
however, lies in investment buying and
the next few days will tell the story Of
the humOr Of the receivers OF $4,000, 90
on account Of dividends and interest.
Therein lies the hope of better markets
in January. 1t Is what the room traders
and speculative traders generally are
waiting for.
Foreign conditions arc not causing any
alarm Money Is easier and foreign ex-
change weak, SO that there is a prospect
Of more gold coming over in the near
future.
The ore disturbing. element is the in
dustrial situation and the fact that
some Of the weak banks that were
uded over have securities that must be
marketed and that there are loans that
must be paid
II would seem to be a poor time TO
talk higher prices for stocks while clear
ing house certificates still pass current
as cash and when currency scarcity
makes loan rates high IL is within the
possibilities that there will be very high
rates current before the year 1917 is
gathered 10 its fathers.
Market Very Dull.
It is also a fact that the market while
strong is very dull and the movement
is not Of the broad, active character
that indicates much confidence Trading
is still largely professional and frequent
reactions emphasize the fact that trad
ers arc still willing to gather in their
little profits and retire for concessions
before going in again
Seventeen per cent Of the business on
Saturday was IN Union Pacific This
the leaders in tOday's market
Spectators who sold short on Satur-'
days rally covered moderately in the
early hours, and this helped the ad-
vance.
Canadian Pacific and Deleware and
hudson, two OF the highest priced stocks
on the list showed excellent strength.
anu both advanced nearly 3 points.
Great Northern showed less strength
than It's Sidc-paCtner. Northern Pacific
Its gain was limited TO =. while the lat
ter moved up IL. Union Pacific was Ia
higher Southern Pacific gained y, and
St Paul = Reading touched g.. a IL
Improvement. New York Central was a.
higher. and Missouri Pacific the same.
Smelter and Copper a better.
StcelS were steady and better. There
Is an excellent small demand for these
at = and S2% for common and preferred
respectively. the advance being about
p on me former, and &H7E on the latter
Entering the afternoon the market be
came stronger and there was some i'm
provement In the volume of business.
The strength was not centralized, but
was we'll distributed throughout the list
Further gains were made extending
tile advance for the session on big Steel
10 So and on little Steel to 2TL
Entering the second hour Of the ar
ternOOn the advances on the rails were
? points on Union Pacific. ~ on St
Paul. 1& on Southern Railway, 12t on
Sugar, 1 on Great Northern Pcnnsyl-.
~ Nnvr II
on Northern Pacific.
The list was strong and near top at
mid-afternoon-