The Washington times., 1908-12-24
NEW YORK STOCKS GENERALLY
FIRM THOUGH RATHER ERRATIC.
LONG VACATION

NEW YORK Dec A-DurinG the
morning hours the market was moder-
7tely active with a number of noticeable
advances throughout the list on evident
covering for the holfdavs- Brokers eX-
pected d larger movement IN this line
than developed later, and then it be
came evident that the bulk Of the shorts
had covered their contracts on the Tis-
ing market ON Tuesday and Wednesday,
thereby assisting the advances then sus-
tanned.
1t is likely that the closing will be
rather quiet, as there will be an ind's-
position TO taking on new business with
a three days vacation over the Christ
mas holidays
Strong Features.
The strong features Of the day were
New York Central. Brooklyn Rapid
Transit, Missouri Pacific, and the HII
shares with Third Avenue, Interboro.
and Colorado Southern very firm.
The purchase Of the Colorado South
crn IS explained as move TO nandi-
cap the St Paul system, the former
company making surveys to connect
with the 81. Paul coast line in Mon
tauu- ID will not connect now. Mr.
Hin will soIidify the Colorado Southern
so that it viii be able to stand on its
own feet as "A Gulf route, and this VIII
require much work. but when complet-
ed II viii be mighty useful 10 the HlH
system
SmcIte~. took another turn for the
worse this morning, selling of =. which
WAS something Of a check on the en-
tire list Steel itself was 3 lower. The
theory seems to be prevalent that
- per cent cut in the tariff on steel
viii be made by the Cummi iSSiOn, which
ID the opinion of Gary and Carnegie,
would not cut much ice in tne affairs
OF the big corporation
Goulds Quiet.
The Gould shares were given a breath
ing spell after q firm opening, although
Missouri Pacific, weakling Of yester-
day. really displayed d fairly good tone
with a a recovery. Big Four rose
Iia on scarcely any trading. a trick that
u frequently turns when The market Is
something Of a laE6ard, just as 1t goes
down when others are soaring, or at
least refuses 10 join the procession.
Despite the limited changes i'm the
price. there was quite a wide range fuc-
tUatiOn, Union Pacific selling at lSuFt
md at 1928 back to a second hour
range at lS2. ST. Paul managed to hold
= advance Southern Pacific was
steady, Reading a shade lower Steels
= off. iSSOuTi. Kansas and Texas I.Is.
Everyone seems to hold to the coming
OF the Hartman mana cement i'm the
great property and with IL Hartman
luck. Pressed Steel Car rose q
point. Most of Jue iuduStrials were.
steady but Ice and Smeltcr. The former
dropped IN DOnJs.
In The closing hour the market WIS
moderately active, but the list showed
even more erratiC fluctuations than
earlier in the day. The Gould stock.
continued to ease off until point losses
were recorded. Wabash. both common
"nd preferred, and fractional declines
in other issues.
New York Central, which had sold up
o 1896, went back slightly Hill stocks
slightly higher. Toledo. St Louis and
Southwestern were very strong. gaining
70 4 points, the big gain Of the day
T.. r. r. rose to 69Z. and reacted 10 Gq
Hartman shares Just ObOut held thCfI.
own. although Illinois Central was "A
point off.
Indust~ials made n good strong close
with advances quite general throughout
he list.