The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-11-28
ST. PAUL STOCK ACTIVE LEADER
IN A MARKET THAT ACTS
RATHER TIRED.

NEW YORK. Nov. eS-The ginger
seems TO have escaped from the stock
market, at least Il doesn't show its old
form. and there seems to be latent
strength only in a few stocks or IN
spots as pools get to work and give
tone to these specialties. The great
strength shown last night was not re-
feCted in the opening, as every one SN-
peCted that 1t would be. II "as PeIll-lt' 1
used for the purpose or dumping stOCh
on the London market at the opening
II is evident that the public, or AT
least 70 per cent of what Is known as
''the public" has quit the stock mar
ket for the time being at least. Whelh-
81 the public has learned the lesson OF
fnany wears Of experience and been sat
isfed with good pTOnts, and IS out unui
another big break or not Is question:
but tue general impression seems 10
favor a renewal of public buying after
January /. when the numerous dividend
and interest payments viii induce them
to come in for the usual January rise"
st. Paul the Leader.
St. Paul seems to be in excellent po-
sitlon, with cumulative buying in evil
dence, while the Harrimans are a bit
toppy 1t is likely that the buying OF
st Paul represents operations Of new
pool just getting TO work. In the last
day or Two pool operations nave Deen
discovered I'm Missouri Kansas and
Texas, and the explanation of rise or
nearly g points in both the common and
preferred stock discovered
A number of stocks in the secondary
group Of rails, notably AtChison, Bald-
more and Ohio. Atlantic Coast Line,
Chesapeake and Ohio Kansas city
Southern, and minor rails, remained
very dun throughout the session. but
the price list of last evening was well
maintained.
T'Ea 0rIv- news NJ, any ~ fba gram.
was the report Of AtchisOu earnings
for the month OF October, showing
earnings Of 10 FeT cent on the common
stock For the four months with the
same date the earnings have shown an
average Gross decrease Of 8 per cent
and monthly from 4 to u per cent, while
the net has increased on an average Of
j. per cent.
The leaders. Union Pacific and South
ern Pacific, showed net losses for the
day Of q OF a point Missouri Pacific
was y lower. and New York Central
3, Reading and Northern Pacific were
practically unchanged. Wisconsin
Central preferred declined Il point St
Paul was the leader OF the list in tone
ana activity. advancing from 14S5s. the
low, and = of from yesterdays close,
10 1904. a net gain OF point.
Consolidated Gas Higher.
Consolidated Gas, which made a new
high record yesterday. astonished Wall
Street again today. by advancing ?
points TO l61. There IS nothing in con
nectiOn with this stock TO warrant its
sudden upward movement except the
oft-Tepeated report that the company
VIII win the SO-Cent gas suit. The
Street furnished another surprise in the
shape Of an advance In General Electric
of 3Ia points 10 the new high record for
this year Of I59.
The general market opened with de
cllues averaging y point IN the leading
railroad shares, but the strength OF
Consolidated Gas. General Electric and
a. few other speCIaltieS caused a re-
newal of buying orders for the railroad
shares which was reflected in the wtp-
ing out of nearly all the losses South
crn Pacific was heavy and its weakness
is said TO be due to the desire OF iusid-
ers To acquire stock.
Another heavy feature OF tho market
Was the metal stocks Shelters declined
e point while AmaIganated dropped y
and Anaconda g point The weakness
Of SmelJeTs can be accounted for by the
fact that silver metal is selling at 4SH
cents. the lowest price in five years.
American shares were heavy in Lon
don, closing with declines OF about Z
point throughout the list. The feature
OF the foreign market was the easing
of IN the call money rates which had
been stiff during the settlement
Sugar was very weak breaking e
1928 or IA points. Copper lost q, but
this was about the only weakness:
shown. The SteeIs were firm. and thu
large buying Of Steel common in tn,
face Of predicted lower tariff IS looked
upon as inside accumulation. Car FOun
dry was strong. but did not hold g gair
Of nearly point western Union moved
up again on dividend increase rumor;
90 61iz or pa points.
The market closed rather quiet. but
steady.