The Washington times., 1907-11-11
NEW YORK STOCKS
DULL BUT HIGHER
Situation Improved Gains
of l to 2 Points Easily ES-
tabliShed-Investment
Buying.

NEW YORK. Nov. Il. 1880 p. M
Conditions are very much better and
still they are getting better every day
The shorts IN the stock market are not
especially pleased with the investment
buying. It Is fact that the public Is
hlbbling, that wise rich men with means
are taking stocks out OF the market
and that Lucky" Gates has recOuped
bis losses on the Tennessee Coal and
Iron sale through his large purchases
OF Union Pacific.
There should be a reaction in the
market before the advance is carried
much above present levels. This is the
opinions OF expert traders and Is but
the natural result Of the prCht taking
on the higher level. Sell them with a
view Of getting IN on a little lower
tcale." This is the way one broker puts
1t, but there are thousands of shares
being taken out OF the market every day
that Will not be sold for any short turn
in profits, but held for a long pull and
the fat dividends that the nigh grade
stocks are paying at present values
New York Situation Improved.
Comptroller Of the Currency w. B.
Ridgely says: fThe situation in New
York is much improved mean It"
and this is the story that comes from
various authorities. Il is evident that
J. Pierpont Morgan and the United
States Steel crowd are the chiefest fac
tors in the situation. They have the
cash, with J. d. Rockefeller and few
other live ones, and they are taking
large quantities Of stock at bargain
hot mill arb sell
on sharp advances with intent 20 get in
again on every reaction.
In the meantime the position OF the
shorts. and their name is legion, is be-
coming less pleasant day by day. Many
have covered in part, but the line is
stiu enormous.
Dull But Higher.
Today's market was dull but higher.
The volume of business was restricted,
just at II should be to make the i'm
brovement gradual. and the buying was
Of a good character-much of the in
Vestment kind. The best prices Of the
first half of the session were just be-
fore the noon hour, thereafter slight
declines following. but with the leaders.
Great Northern. Union Pacific, Penn
sylvania. Reading, and the Steels not
Tar from top quotations.
Copper advanced from 4S%s TO 5O1s, but
dropped back TO 49Ss to 49, Smelling
advanced to 50 from an opening at s.,
and reacted to SIS. Steel common, 24Iz
6g25i4, preferred S42t ass; both strong.
AtchisOn gained nearly points; Balti-
more and Ohio, =; Canadian Pacific. 2
points; Chesapeake and Ohio. i, and
Delaware and Hudson. ~. Great North
ern opened at III, sold to 115L. Louis
vile and Nashville was points better.
Missouri Pacific 1 point up. Northern
Pacific 100, or Il up 10 uOiL. with little
stock offered. Union Pacific closed Sat
urday at 11h. opened at 1IlB. sold TO
1132l, and then on u. Reading jumped
nearly , points on the initial quotation.
added another point and then eased of
from 81 70 sos. St. Paul did not act at
oil well barely holding its own Mis-
souri,. Kansas, and Texas was also in
the same class Southern Pacific gain
cd q,
NEW YORK, 5 p. m.-Tne market
continued with a fair show OF activity
right up 10 the close There We're some
concessions from the high of the day.
but the losses were inconsequential. and
b substantial recovery was held TO the
CLOSE.
St Paul was about tfe only stock that
failed to close higher than on Sat
Urday, and IL was q lower.
Gold engagements now total, inClud-
Eng arrivals. $50. $4,000. Morgan and
some others are canceling orders in
order to relieve the scare on the other
side.