The Washington times., 1908-10-27
Qt Day on Wall Street, But Confidence Sh0 BY Sharp Jpoard Move Values
NEW YORK STOCKS VERY STRONG,
WITH GOOD GAINS MADE ON
DULL MARKET.

NEW YORK. Oct. 2s.-From the start
the stock market was strong and higher
prices prevailed almost without excep-
ton. There was no use taking pessi-
mistic or bearish view Of the situation
in the face OF the show Of strength.
That there was not a larger volume
of business was to be expected, in view
of the Indifference of the public and the
indisposition on the part Of the bears
10 attack market so completely under
control The political situation Is the
one dominant influence, and room
traders are willing to trail along behind
q strong movements taking profits
quickly. and going in again on renewed
strength.
Commission houses had little business,
and yet there were a number of orders
from the West and other sections,
based on the opinion that stocks for the
first few days after the election will
make some sensational advances. and
that the public viii then come in and
take stocks freely, while the clique thar
mas heid the market well in hand
throughout the entire political cam
palgn VIII then be ready TO marked Sc
curlties and take its profits.
II IS put natural, with the final bat
Ties or the campaign being fought under
me candidates themselves In New
York, that there should be some nerv-
BUSINESS during the week. perhaps a
reached present quotations are COnsid=
lions under which the stock list has
reached present quotations is cOnsid-
cred II Is evident that the Hartman
combination must stand under the
market. in the event of unfavOrable de-
NelOpments.
A Bunch of Rumors.
Under the leadership Of Southern Pa
Tnf
per shares, there was fair advance
London sent over good prices. but show
ed no enthusiasm.
The expectation that the Steel trust
would make an announcement this
afternoon showing earnings Of above |
$2b,U0UuJt net for the third quarter was
the sustaining feature Of the metal {
shareS. The insiders are very bulHsh I
ON Steel, because they expect tremen-
aous orders 10 come in Immediately 1
Copper shares are strong. because the
war scare In Europe has caused the
manufacturers OF ammunition to clean
up me London metal market thorough !
~. The price Of copper metal viii ad-
vance gradually from now on
IHe Hartman shares are under the
l3luence OF mysterious rumOrs of a l
tremendous deal 10 be announced short ]
ly after election
Rock Island shares are also marked |
Tor further advances on deal rumOrs.
colorado Southern will declare diyi-
dend on It's common stock as soon as /
tAe election Is out of the way There I
IS every reason for expecting the stock /
mar act 10 continue strong ana steady /
Tor the next two week AZ least
Professionals have been selling short /
and some nervous traders in the long
Side Of the market have been takinS
profits. but no uueasiness is manifest
ed IN the camp of the bull campaigners. |
Some Good Gains.
All these optimistic rumOrs found |
their reflection in the stock market in /
advances of an average of AT1 point 1
throughout the list. Several stocks /
made new high figures for the present /
movement. notably Union Pacific at /
MS. and southern Pacinc at lOg.
IHe Copper shares were strong, with /
advances of about a point.
Reading rose I point; ST. Paul. q: |
ROCK Island, "a. Northern Pacific IA, I
and Great Northern preferred B.
on the curb market trading was mod |
erately active, with the Cobalt shares |
and Goldfeld Consolidated the strong /
features.
Reaction, Then Firmer.
After the FIRST hour there were some
reactions in the list. averaging i and |
= of a point. and in some instances u |
point These set-baCls we're attended /
with a very limited volume of trading I
ard until nearly ] o'clock this afternoon !
the transactions We're limited and the |
market very steady at the slight re- /
action. During the noon hour the mar
ket displayed good tone and there were |
some reCCveries between midday and 80 4
this afternoon Union Pa 'ifC led the /
way with a return 10 the highest point /
Of the morning. NE St. Paul came to /
within q OF high, at 74fH, Reading.
l344, or within Is Of nigh: Northern 1
Pacific, l45A, and Southern Pacific, IO9
These prices varied from a point TO IA /
above the closing figures of Monday.
Other rails p and q better. Industrials /
strong, with Steel. preferred, Hos Con-
Per, Car Foundry. SmCltcr, and Colorado /
Fuel and Iron all strong at l. ard a
advance.
All indications pointed to strong
close