The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-11-08

WIN MONDAY morning OF TINS week anu
keeping it up without any cessation dur
ing the hours OF business the New
York stock market has worked to a
higher range Nor were the advances
made by steady gains but by nts and
starts, by fractions and by points.
On the opening day Of the week the list
showed sharp advances and the char
acter of the buying indicated plainly
10 the professionals that the Street was
falling into its invariable habit of dis
counting events, and, that, because Of
the demand for stocks there was little
fear over the result of the Presidential
elections on Tuesday.
After Tuesday came the deluge.
Traders generally stopped for breath
and considered the possibility of the
Hartman following dropping it's bur
den of stocks accumulated months ago
and right up to the tap OF the bell be
fore election. at prices many points
lower. And as they considered they
came to the conclusion that the big
bulls would be favorable to higher
prices. that they would not quit with
the Justification OF their belief in the
election results-with the market in full
control, and with plenty OF money they
would put prices higher.
Started Wednesday. d..
So. after a little breathing spell on
Wednesday the market again started
climbing and the manner in which it
rushed up the incline OF higher prices
astonished the natives, that started the
conservatives in the stock brokers'
offices to wiring their customers to act
carefully, to calling attention TO some
proht-taking, and to 50 slow.
In the face OF developments between
Wednesday and Saturday the wise brok-
ers might have saved themselves the
trouble OF sending out the warnings.
General Public Buyers.
The general public, warned and urged
TO refrain from taking stocks from
Hartman. the same public that would
not buy stocks according 10 the reports
Of the bears Of ante-election days. fell
over itself to get their orders executed
so that some Of the easy money might
be garnered. They bought rails, and
they purchased industrials.
Many buyers took stocks. paid for
them, and locked them away. Others
bought on commission.
Others were in for the speculative
times Proht-taking was going on all
the time. but the sellers looking over
the ticker quotations We're generally
tempted to pay the commissions and
take on more stock. rather thsn pyramid
holdings. although in the latter part of
the week, there was much pyramiding
going on, and while a tremOr. rarely
reacting more than a point or so. and
Ia he
opening was decidedly strong every day.
There was some little hesitation one
day on weak London, and fear OF a pos
sfbIe complication between Germany
and France. but that matter was soon
settled.
London has welcomed the election Of
Mr.. Taft. but only as it has found it
10 its advantage to buy back American
stocks sold on the Bulgarian scare.
They paid ten points higher for their
purchases than the prices at which
they sold them.
In the midst OF the excitement, of
the strenuous market and the wild
buying, the fame Of Edward II. Harri-
man rose higher with the fractional
and point advances. Hartman the
man who made good.
70 his stockholders. He has 50 managed
his railroad properties that they have
paid dividends as usual. and turned
gross decreases into net gains. He has
undertaken in connection with his al
lies Rockefeller. Stillman, and some
ether big men, TO carry the New York
stock market through a very critical
period on his own shoulders, carrying
Il with supreme confidence in his own
powers. and in the election OF William
Howard Taft 10 the Presidency of the
United States. but unquestiOnably fully
prepared TO hold the market against
any bad slump has the election resulted
differently from what = cid.
Believes in Hartman.
Wall Street believes IN Hartman as it
used to believe in J. PierpOnt Morgan.
II believes him when he says that he
will put Erie on dividend basis. 1t
believes that Reading VIII some day be
another Delaware aDd Hudson, a Della
ware and Lackawanna-
Wall Street takes stock in Hin and
Hartman Hill made good u the North
ern Pacific shareholders this week with
en- extra dividend of S.0.25 "A share. The
Great Northern people believe that the
Ore Company of the Great Northern
will one day pay a big dividend. too.
Prosperity has hit the whole country
The stories of men going to work, of
factories and mills opening, OF millions
being spent for equipment, or furnaces
being started up. and of hundreds of
thousands Of positions being reopened
tor workers are rot fakes. Industrial
prosperity is at hand.
Advances Tell Story.
The advances of the week indicate
better than any comment the character
OF the market The closing figures are
not quite the top. but they are very
near il They tell the story of the week
better than much comment Suffice il
to say that the stock market has be-
come a million shares day market.
sometimes larger, that there viii be
two sides to il, that the depression of
year ago IS forgotten and will not be
remembered so long as the advances are
maintained.
Wall Street has again won honors in
the prophecy line and holds high place,
because OF predicting the panic months
before business suffered: IN starting on
the road TO recovery months before gen
eral business did and in discounting TO
the day and the hour the election OF
Mr.. TAFT. On Monday any time, thou
sands OF shares Of stocks might have
beeu nquldated without causing the
slightest uncasiness in the market,
the appended table shows the clos
ing prices Of today and the closing