The Washington times., 1908-10-22
WALL STREET FULL OF CONFIDENCE
IN THE MARKETS FUTURE.
BUYS STOCKS.

NEW YORK, oct 23-After getting
aplendid start the stock market decided
10 take a rest. The undertone was just
rs good as at anytime in the last few
days. Traders were confident that the
control would move it up. when ready,
but pending d show Of strength there
was considerable profit-taking, and this
was responsible fer losses of part of
yesterdays gains. The Hartman fol-
lowing occasionally distributes a little
stock on the strong spots but has not
indicated in any manner that the bull
movement has reached its zenith.
There was nothing unnatural il the
proit-taking movement; nothing to
cause uneaslness. the selling coming
ehiehy from followers of the market
leaders, who are content with the daily
Business Improves.
From all parts OF the country come
reports Of improving business condi-
tions, larger orders and preparations for
Spreading out within the next few
weeks. with the usual depending on
has quit IFS and believes firmly thar
there Will be no change in governmental
control.
Railroad earnings are increasing. Of
power. crops are moving freely. prices
for all agricultural products are high.
and the third OF November is but a
few days sway.
Pennsy Shows Tone.
Pennsylvania Joined the leaders OF the
market this morning for a fair advance,
Sne-half point being held, while other
stocks were in the reactionary mood.
B WALL
This was largely due to the buying
of conservative bankers who hold that
khe price of Pennsylvania is out Of pro
portion 20 that OF other stocks 1t pays
6 per cent, and has been selling around
125. The development Of strength In
gieading gave the impression that the
hard COaIeTS were coming in for an up
ward movement.
Same Old handspring.
The same old main spring was at
work in the marloet. The Hartman fol-
lowing giving support when necessary,
buying and being followed by the spec
Olative fraternity, who have acquired
the knack Of getting in and out, and
81 again on concessions caused by their
prOft-taking. There were rumOrS again
Of royal purchasers by royal buyers,
but they were without the slightest et'
Feet Politics, and politics alone, gov
krn the market, but associated with
politics IS Hartman
Reactions followed the strong opening
In the leaders ike Union Pacific, North
ern Pacific, Southern Pacific, Illinois
Central and 4 few other stocks they
amounted to H41M points, generalll
nbout a point. There were some ralle:
from the low point, but they were only
fractional The strong stocks WeI'
baltimore and Ohio, Pennsylvania witt
= net gain: Shelter. which was steady
New York Central. Steel preferred, aHC
Chesapeake and Ohio.
Up Again.
The lower range was attended witt
liberal trading, and about the middle
OF the last hour Of the morning tnG
market showed a disposition 10 rally
and BY the middle Of the noon hour the
greater part OF the losses had been re-
covered With the recovery the VoluIll'
or trading increased greatly large LoG
coming out, ard the sellers OF LNe edIuc
hours trailing along again and aCcumu
lating mere stocks, with the practlca
certainty OF being able TO get out VIII
another profit
The REPORTS Of Missouri Pacific, Hart
ford and New Haven, and other ROADS
were unfavo~able, but the facts were
without influence on the market, IN
whole scheme being one of discOuntnl
The foreigners are very anxious t
buy back the Americans they sold OF
the Bulgarian scare, and have beer
giving Hartman GOOD alu IN MS DdA "
Tor higher .prices-a one-slded hEht-
but the sales for foreign account have
been taken out Of the market, and MAKE
the supply that much lighter
The advance Of Pa points on WiSCon
sin Central was a feature Of the ses
sion.
Entering the second hour OF the after
noon the market. while averaging slight
" below the high prices of the morn
ing. was holding very steadily with littt
selling pressure
At 100 Northern Pacific was 14fiz
Pennsylvania 1851. Reading 1342s. a goo'
gain OF rs. Southern Pacific. loNl
Slightly better than last night, Grea