The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-06-29
Rise Felt by Railroads, Cop
pers, SHELTERS, and Trac-
ton Shares.
BROOKLYN RAPID
TAKES THE LEAD
Market in Cheerful Condition,
Business Larger, and Trad
ers on the Jump.

The stock market opened irregular at
slight declines ana seemed at the mo-
ment very weak. For nearly half On
hour prices were In more or less Of
demoraIized condition. Then the market
steadied and before the noon hour the
leaders had gained substantially over
the opening quotations. At noon St
Paul had gained nearly two points.
Reading had a point to it's credit. Little
Steel, some of the CCppers and the Pa
cihc railroads had good fractions 10
the good. The market was strong and
the Street hopeful at that hour.
AS an evidence of the ragged condi-
ticn of the market at the opening,
Northern, preferred. Louisville and
Nashville. and Anaconda were Il per
cent lower; Copper lost that fraction
after opening Is lower; Pennsylvania,
United States Steel. Brooklyn Raplo
Tsensit, and Southern Ranroad were =
lover: Reading and Smelling opened =
higher. Locomotive opened uncndnS6u'
bII declined q; Erie started down -
southern Pacific unchanged; limos
Central opened X lower; Steel, pre-
ferred, opened Is higher
Few Orders on File.
one of the discouraging features OF
the morning was the few orders on HE
in the commission houses 1t vs. salU
TO have been the lowest record fo- Mon,
dav morning for several months aAo
The fact that the public mad OeseIleu
stocks seemed TO inspire the bears with
fresh hope of a fan In prices But
The fact was recalled that the market
during the greater part or last Week
was purely a professional affair Nsld
that there had been little inducemeni
for persons at a distance from w All
Street to leave commitments with DroA-
ers over Sunday or 10 make new ones ones
before it should be seen which way
prices might be going. When the mat
ter was finally threshed out 1t was seen
to be a poor bear argument ana was
The effect of the July disbursements
was clearly anticipated in the rise OF
the market. as soon as prices steamed
after the opening. The Street has arSu-
ed itself into the belief that the tratnc
Industrial and crop situations are IN
fairly good shape Moreover. the I'M
preston is growing that the country
IS safe as far as the Denver cOnNenJl0n
is concerned, and that Bryan VIII De
nominated on d platform that VIII make
his defeat as Certaint as most thlhSs
DOIitiCaI II this was now really assured
The market would probably go through
the roof within forty-eignt hours
No Signs of Weakening
At o'clock the market was holding
a substantial rally. with no signs of
weakening. Traders were encouraging
the recovery and were themselves heavy
buvers Whether this was purely pro-
fessfOnal buying as had been the pur-
chase Of 10000 shares Of Union PACING
bv the house of G. Fairchild, earlier IN
the day. could not be fully ascertained.
but II may be presumed that with the
good rise in stocks following the irregu-
lar and uncertain opening. commission
houses sent IN n good batch OF orders
which were distributed around among
: the room traders for the purpose Of hid
ing their real source.
At O'Clock all the leaders had scored
from one to two points, and business
was more active than II has been for
"a week. There IS much bUlNsh talk
about Brooklyn Rapid Transit. The
good summer business is alluded
TO as an encouraging sign OF
good earning power. and the belief IS
widespread that the railway commits
sion will authorize the 10 cent fare 10
COney Island On the strength OF the
talk and the rumOrs the stock advanced
from 46i2 at the opening 10 1915 before
noon. and held the high level on into
the afternoon.
At this hour the market is In a hone
1ul attitude. and the situation has all
the appearance OF the rise lasting at
least TO the close Of the market today.
Inc market was active and strong
tnrougn the afternoon, closing near the
highest Of the day. Business picked up
amazingly as compared with last week,
u AcAAb SUCK were exceed
singly hopeful as the day advanced.
Commission house orders continued 10
pile up IN the hands of the floor traders,
and shorts were agitated and began 70
run to cover.
The appearance Of the boards with
the shoEts OF buyers and the hurrying
10 and fro of messengers and other at
taches Of the exchange seemd to indi-
cate that the long anticipated rise in
stock had really begun. Conditions here
have not appeared so favorable since
the upward movement last spring.
Everybody is waiting. expectant and
hopeful OF something doing by tomor-
row.