The Washington times., 1908-11-04
WDay Leading Stocks Showing Some Large
LIVELY DAY IN NEW YORK STOCKS
SOME SHARP ADVANCES.
HEAVY SELLING.

NEW YORK. Nov. A-With wild,
surging throng in the pits the stock
market opened with wild excitement
and one to two points higher than the
closing of Monday, this meaning three
TO Ave points advance from the final
figures Of last week. So many 6TOk-
ers were in the different crowds and
the orders executed were so large that
1t was actually difficult 10 get at an
official opening.
The EARLY spectators had been trad
ing on London from o clock 1...s n IN .
ing and had given Americans a sharp
ADVANCE there. It was probably their
intention to garner profits on the open
ing OF the local market, and they were
unquestionably successful, as the open
ing prices were the highest OF the nrst
hour on many securities.
Taking Profits.
Bankers and traders who have been
discounting Bryan's defeat and accu-
InuIating securities for the last sixty
DAYS, sold cut on the tap of the bell
quite freely, taking handsome profits.
Everybody was vitality interested in
the course ana action OF the market
and there Weer more spectators than
SPECTATORS. Conservatives We're not in
cIined TO accept the opening as crltef-
ion of the possible course Of the market,
While many expressed the opinion thaJ
the insisders would have TO materially
advance prices in order to draw the
public into the market and ind place
for the liquidation Of stocks. bought 10.
20, and even so points below present
prices
The public did not come into the mar
ket today. II watched the opening, saw
declines follow the first jump In values
ana then waited.
Toward the end OF the second hour
of the morning the list displayed a
decidedly better tone and once more
prices started upward.
The Gains.
ST. Paul started at 1441z. an advance
of IA. sold TO I43l4. and back to =,
Northern Pacific, 147, a point gain, TO
146 10 1865 Reading. 1872 a IA gain.
TO 133 TO 1874. Pennsylvania, 1854 10
l3S, 90 1895. Great Northern, 1n 10
I40A 10 1905. Southern Pacitis, = high
er Louisville and Nashville, a point.
New York Central las. Union Paclnc
opened ia up at lI5%4 on. TO lI5 and
back 10 l7614. Northwestern, 2 points
Copper a point. Anaconda. rs. Steel
a point up, Sfelter lSs. Western Union
a point, Railway Springs a point, and
nearly all industTials about point
higher, steel preferred started az g
gain, ll29s. OF 20 III. and up 10 u6's.
Steels Wanted.
Both in America and Europe the Steel
shares are strong because all students
O fGoyernment finances realize that
radical lariff revision is an lmpOssl-
biIity The Government has run Denlnu
$4,000, 900 in the first four months or thlS
fiscal wear and cannot auOrd 10 lose
the revenue that would be lost through
q revision OF the schedules.
Judging from the action o. the tll1l
ket this morning, manipulation Will nave
10 be continued Tor several InontilS as
the public has not lost lts neau ,,l1-liI aliI
must be cOaXed 10 buy stocks. FOols
Immediately got TO work. The one IN
Amalgamated Copper was most as
greSSIVe, forcing sharp ADVANCE III t.S
stock Other COppeTs TELL IN line Win
Nevada Consolidated. leader OF the OUT
ON me outside market Eipissiog led
the mining shares, crossing II Lcf Iii9
dated was the leader of the Soi0 group,
London was heavy except IN the
American department Fear OF War on
Seryia has become an issue again. Inc
strength of cotton operatives Ia Lanca-
shire Is also a depressing factor IN the
foreign situation.
Entering the afternoon the market
again developed unexpected strength
and advances were extended all along
the line. The speculative element
fought the advance and the clique IhaJ
has had the market under control Tor
weeks and months. pushed IL up de
spite the bears. 1t gave the market
two-sided appearance, and the Clique
used IL TO good advantage, carrying the
market to the highest levels of tie
year on practically everything on the
list
They made the Union Pacific gain 8
points or to 117. Southern Pacific turned
IlO2t and St. Paul. 1s5. New York Cen
traI topped los by 4 of "a point, ana
Northwestern moved up 10 1861 or 3lE
points net gain Great Northern made
IL l35as, as compared with 1895 on Mon
day y. L. & w. advanced 3ia net.
Steel preferred touched 114A, and the
common HIS.
It was a broad, strong market.