The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-12-05
DAYS GAINS.

NEW YORK. Dec. Sat the tmmedl-
ate opening the Gould stocks again set
a lively pace with sharp advance and
much buying. This was again signal
10 may holders Of stocks other than
Gould's to get out and wave or
liquidation followed soon after the open
ing. The street could not stand for
"a points net gains In Kansas City
Southern and advances in other Gould
stocks that have heretofore not been
considered as especially worthy of at
tentiOn.
The whole market quickly responded
20 the rise and then the selling turned
the tide the other way, continuing the
entire session and with no material re-
A Reading Tale.
Reading aforementioned Kansas CITY
Southern. The story found circulation
and some little credence on the Street
that the Reading people contemplated
the retirement Of the first preferred
stock. Hurrah. and with boom, the
Reading shares fairly sizzled In their
advance. The common stock rose from
1888 TO I415s. The first preferred sur
pTised its friends by one Of the most
uGcalled for bursts, rising II points, or
1232 per cent. while the second preferred
was also strong II may be that the
short selling, as it would be a perfectly
easy matter to corner Erie first pre-
IerTed, but whatever the object, the Of
ncial denial or the retirement story
the adage that there are many liars
on Wall Street, some being more on the
Munchausen order than others"
Back They Go.
And when the denouement came the
common shares dropped but rs, the
first preferred from 80 to 90, and there
was no recovery thereafter. There are
many who are bulls on Reading on gen
eral principles, and all the time holding
that IL has a mighty good chance to
line uD with Delaware and Hudson, and
Delaware, Lackawanua and Western as
high-grade investment shares.
Kansas city Southern after making
It's sensational and untimely advance,
- points 10 40, dropped back to 367z.
and was weak at the close. The pre-
4eIIed held gain Of but Is.
Leaders Act Tired.
All the leaders acted tired. The Dro-
fessionals did not like the looks OF
the market a little bit, and II thew
bought they put a stop order on the
stock, and II they sold they did the
same. Ready 10 do either way, but in
diHerent as 10 the course.
Some Losses.
Union Pacific lost IA; ST. Paul, x:
Northern Pacific, q; Great Northern.
about point Illinois Central. a point;
while the list with few exceptions,
was testing the toboggan slide.
SmelteF was the weakling Of the in
0ustrlals. with pa loss. Steel common
cropped Is, and other industrials chang
ed moderately.
Money.
The Street seemed to attach some I'M
portance to the fact that the loan item
I'm the banks would probably show a
large increase. This IS also the day for
the S300o0O0O Panama bond issue and a
slight hardening of money rates Is ex-
Fected to develop early In the week.
London sent over prices showing de-
cilneH IN all but a few American stocks
Out Ils American shares had a good
market abroad.
Ihe Pennsylvania railroad report for
OCTOBER IS causing some selling as IL Is
at7o the announcement that the number
or idIe cars Is again increasing.
me -top moving rush has passed its
apex ana from on the railroads will
nave 70 depend largely on general bust
ness leT uelT tonnage. Western bIv-
eis report that people with money were
!iOl showing disposition 10 spend II
ADeEdlly TOT commodities and that this
was checking business The bulk OF
the increase In bank clearings. which
a,tLtaCted so much attention, is due TO
Ihe activity or the stock market
curb stocks were under leadershin IN
oey o. NlplsSlng and Goldfeld ConsoII-
QaJeu. la Rose, Miami United CODneT.
Cobalt Central, and Florence were ia
good demand. AL