The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-03-23
SPECIALTIES MAKE
VERY GOOD GAINS
Sugar, Great Northern, and
Canadian Pacific Higher.
Sugar Trust Has % Per
Cent of Capital Stock
in CaSh-Market
Slow,

NEW YORK, March 23-Noon-The
mornings operations save 10 clue to
the probable trend of the market dur
ing the rest OF the day. Traders were
rather inclined to the belief that there
should be a reaction from current prices
before any concerted buying movement.
Many operators were inactive on this
theory and waiting for The reaction.
Sentiment is entirely concentrated on
the political outlook. which is not to
the liking Of the Street. The labor
movement looms up as a possible
source Of trouble. adding uncertainty.
1t is expected that a message cor Con-
gress viii be forthcoming in a day or
two, but il has not been dreaded as
have former messages. the impression
having gone out that IL was mild and
gentle as compared with former doCu-
ments from Mr.. Roosevelt. The general
Impression is that it viii outline legis-
lation that has been agreed upon by the
leaders Of the dominant party as neces-
sary. that il will be a soother for labor
ara not a harangue against predatory
wealth or rich malefactors."
Here and there much strength de-
veiopod. the features being Sugar. Great
Northern, and Canadian Pacific.
Millions in Sugar.
The Sugar shorts were badly scared
by the publication of the first annual
report given 70 the public They rushed
to cover and forced the price up on
themselves points. The report showed
net earnings for 1907 Of SS.7492S1. with
surplus after dividends OF s.. as, sol. The
company is carrying a surplus account
of S25,576g36. This surplus is equal 20
y per cent or the capital stock Of the
company. officials say that this enor-
nous surplus is needed because Of the
large operations Of the company, cell
ing for large amounts of cash. The
advance carried the price TO 12S- After
the shorts had covered there was q IT.
action TO 1854
Canadian Pacific developed another
streak Of strength. Just Why was not
stated, but the stock was strong enough
TO scare foreign shorts and to Justify
American holders in keeping their
shares. 1t closed on Saturday at 1864
GnC moved up this morning 10 1891,
with sufficient ginger IN It at that time
10 promise higher closing.
Great Northern was another stock
that carried a strong front and scored
a good gain. II opened at 10, dropped
back to 12iSs and rallying advanced TO
Rest Of Market Nervous.
The rest Of the list was nervous and
somewhat unsettled, some stocks high
er, some lower. and many with no wei
defined tendency.
NEW YORK, March 23.-I5 p. m
In the first hour Of the afternoon the
market settled back into mastery in
activity Entering the second hour OF
the afternoon the specially strong
stocks held their own fairly we'll but
the rest of the list varied but little
from the closing figures of Saturday,
while the interest subsided entirely.
At the same time there was no wild
pressure TO sell, even If the demand
was light The action Of the market
gave no hint of the final close
p. m.-Business improved a little dur
ing the second hour of the afternoon,
shorts covering and orders developing
in Union Pacific. St. Paul. the Hill
shares, and the leaders Of the morning.
Slight advances were made, and the
tone of the market was strong.