The Washington herald., 1908-05-17
MARKET STILL RISES
Prices Continue to Swing Up
ward in Wall Street.
MOVEMENT IN ALL THE LINES
No Especial Reason Assigned for
Buoyaney, Beyond Fact that 1t Is
AnticIDatory of More Prosperous
Times soon to Come-Bank State
saent About as Expected.

New York, May 1.-THE rise in the
stock market to-day was again continu-
ed with unabated vigor, and seeming en-
thusiasm on the part of those carrying
it on. but without any change in its
characteristics as previously outlined.
Neither to-day. any more than at any
time in recent weeks, was any reason as
signed for the advance beyond the gen
aral explanation that the market was
moving in way antieipatory of more
prosperous business conditions later in
the year.
Especial features OF strength to-day
were, as they long have been, the Union
Pacific and st. Paul shares ana advances
here were accompanied with even larger
gains in Illinois Central stock. Other par
tieularly strong stocks were the Atlantic
Coast Line, Louisville and Nashville.
Brooklyn Rapid Transit. General Electric.
and at one time Reading stock; but rean-
cations late in the day caused the greater
share of the gain In Reading to dtsap-
pear and also largely wiped out gains
before made in Northern Pacific, United
States Steel common, and one or two
other leading stocks,
Gold Going Abroad.
Aside from the engagement of s.. 600
more gold for export and the publica-
ton of a "bullish" interview with the
president of the Union Pacific Railway
Company. there We're absolutely no active
developments to-day. The weekly bank
statement was OF noneommittal order,
showing a small increase of loans and
gain in cash of a little more than $2,000,000
as compared with a loss of about the
same amount predicted yesterday. Ac-
cording to the actual, as distinguished
from the average. figures OF the bank
return there was an increase Of nearly
$n,00Q000 in loans at the close OF busi-
ness last night, and a loss of S64S.000 in
cash. But however calculated, there were
only trifing changes in the bank sur
plus reserve.
Union Pacific common stock was easily
the leader of the security market This
week, the sensational rise here carrying
al the other prominent stocks in its
train, more especially, however. the rail-
way list
Hartman Deal RumOred.
As the week drew near its end. an i'm
preston widened in Wall street that the
advance in Union Pacific was due to
some more specific reason than dis
counting OF future prosperity by specula-
tive financial interests and there was a
rumor Of a dealing Of the same general
nature as those which have long been
characteristic OF the Hartman financial
operations.
Rumors were scattered broadcast as TO
what the deal was probably varying
from the assertion that the Union Pacific
had obtained control OF the Chicago and
Northwestern Railway TO the familiar
tale that Segregation OF Union Pa
cific assets was impending.
Wall street gossip also greatly busted
Itself with rumors affecting the Chesa-
peake and Ohio and Western Maryland
Railway companies, and of practically
every one Of the Gould companies. but
none OF these matters had materialized
into facts az the close Of business this
afternoon. and most OF them, doubtless
were Of the stuff that dreams were
made Of.