Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-21
The Short Interest Still in Re.
treat Today,
PRICES ADVANCE FURTHER
Market Tone Became Firm After
Low-Range Opening.
SOME EXTENSIVE ADVANCES
Industrials Furnished Features.
Copper Strong in London-Bond
Department Improved.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 21.-rhe ir-
regular and uneven upward movement
in the stock market. which has been In
progress since the early part OF the
week, was continued today and without
any more explicit explanation than
that the short interest was still In re-
treat. Inasmuch as the buying Of this
description encountered very little
actual liquidation It was natural
enough that prices should advance. The
days situation was practically bare OF
developments of SUFFICIENT Importance
as to affect speculative sentiment in
one direction or the other.
At the opening of business generally
lower range of prices than prevailed IN
yesterdays final dealings was estab-
lished but as was the case yesterday the
market assumed firm tone before the
close of the first hour. Except In rev
cases even the maximum advances scored
afternoon the irregular movements which
can be counted upon In a professional
market at the close Of the week and IN
advance of q double holiday made their
appearance.
The most extensive advances in prices
took place In Consolidated Gas and
Brooklyn Union Gas. The shareholders
of the latter were agreeably surprised Dy
the announcement that a dividend OF ~
per cent had been declared on the stock.
The dividend was declared for no par
ticular period. and 1t seems that the stock
exchange authorities were notified only
this morning that any dividend at all
had been declared.
Consequently when the stock opened ex-
dividend this morning there was no little
bewilderment, inasmuch as few people
had been aware that the company had
resumed dividend payments. The ad-
foI Gas rod
altogether in sympathy with the rise in
Brooklyn Union Gas.
Substantial Gains.
Other substantial gains in the mscel-
laneous and industrial shares took place
in Western Union. Sugar Refining. Amer
lean Smelling and Amalgamated Copper.
the movement in the last named being
stimulated by the first substantial Tecov-
cry in the price of the metal that has
been exhibited in a long time. For the
same reason the copper stocks were ex-
ceedingly strong in the London stock
market. which was generally firm. OPP
erations here for foreign account showed
. small excess of purchases.
The betterment in stock market condi-
lions extend in some measure to the
bond market. which was generally firm.
with a material recovery In 1nterborough
Metropolitan ~ Per cent bonds. In fact.
Ol ldo SSCuIiticc WutCi WOtS OF
ceptionaIly weak Wednesday rallied
sharply, including Missouri Pacific.
The leading features of the railway
list were Louisville and Nashville, Read
ing, Union Pacific and St. Paul There
was, however. nothing Of novelty to be
elected from the transactions in the
stocks mentioned.
Money market and foreign exchanges
showed no material alteration The bank
statement was not published until after
the close of business and only scant in
terest appeared to be taken in the outlook
for that document.