The Washington times., 1908-07-23
NEW HIGH LEVELS
IN STOCK MARKET
Great Buying Wave Sweeps
Over New York
Exchange.
PRICES ADVANCE
AGAINST ALL ODDS
Railroads, IndustrialS, Public Util-
lily, and CopperS Included
in the Rise.

NEW YORK, July 23.-Wall Street
was in a confident mood this morning.
apparently believing that the Standard
OH decision had taken the danger ele-
ment out of the financial world From
the sound Of the gong prices advanced
ali along the line, and continued to do
so for an hour or more OF most active
trading. Transactions were on a large
scale and stocks were more active than
has been the case at any previous time
on this movement. Moreover all stocks
were strong. Before II o'clock several
issues had touched the highest points
of the year.
Shelters, Reading, Union Pacific, and
the Hill shares were among the leau-
ers. Specialties continued to touch new
high tops with Illinois Central showing
a gain of 215 points; Delaware and Hud-
son up 27s and American Locomotive
up IL to 541k. The Copper shares also
shared in the Improvement. Amalga-
mated sold ex-dividend y per cent this
morning. but this was made up II, less
than ten minutes after the market
opened.
Other Issues Advance
other gains recorded were Brooklyn
Rapid Transit q, Anaconda Is, and
Baltimore and Ohio l point CONSOLE
dated Gas advanced % points The
Steel shares showed evidences Of realiz-
ing, the common declining Is, as did
the preferred New York. Ontario and
Western was strong, advancing l point
One feature of the market was the &C
tivity and strength Of heretofore in
active issues.
After an hour Of very exciting busi-
ness the inevitable backset from profit
taking came on, and some Of the leaders
Stacked back a point or less under the
pressure. About midday, however, the
market had steadied. and prices were
again climbing slowly upward. The re-
cessiOn apparently is less marked than
yesterday, most holders Of long STOCK
being Of the impression that prices Will
work higher, and that today Is not the
time to get out.
ON the curb market today Standard
Oil stock is cutting no great tgure-
Attention seems to be centered chiefly
on Combination Traction, which, during
the morning. reached a new nigh rec
ord at 116- Considerable attention was
given to other mining shares. but Stand
ard on was largely neglected.
Prices Grow Stronger.
After the noon hour the market be
Sales were no longer by the hundred
shares; only thousand-share lots salts
fed the eager buyers and sellers. The
period Of profit taking was shorter to-
day, or rather 1t was distributed all
through the trading of the late morning
and early afternoon
The feature of the buying was that all
the stock offered was grabbed up by
waiting brokers and bids were constant
" on the floor, advancing an eighth
every few minutes
The activity Of business with the ad-
Vanring prices, seems now likely to
carry the market to new nigh levels.
Apparently the effect of pTO1it-taking
sales has weakened. the local brokers.
commission houses and the public are
all eager buyers and the market Is
fast approaching a position where
everybody Is a bull. bUtting and below
ing for higher prices.
Lste in the afternoon the floor was
a scene of great interest and excite
nenC, and there was then no indication
that the great buying movement would
stop with the close of today's business