The Washington times., 1908-04-28

NEW YORK, April 2S.-If the presi-
dents message struck terror 10 the
hearts of Wall Street traders. there
wasn't the slightest indication thereof
IN the opening of the stock market
either in the opening or in later trad
ing The financial interests have come
10 the conclusion that Congress is "s1L
III its ways and viii do nothing, no
lndlt6r now often the President reiter-
ates MS views and policies. Therefore
even the aTraignment of the Steel
corporation and its allies in maintain
ing prices had not the least negative
erect oJleE Lldn TO keep the inuuStTi
list from moving along in the sky
Iocketing that followed the opening
InqueSuOnably the market is going
al pace, and there is a reaction on
ueck-past due, which is very likely
10 develop before the tap of the bell
this afternoon.
Money and push These are tile IN
Luences that override the bad railroad
earnings, that detract attention from
the industrial depression and that are
now causing the public 10 look with
envy on the advancing market which
VIII be, indeed has already been fol
lowed by large number of public or
dcrs on the market tOGay.
Apd the big spectators and investors.
The railroad magnates and the imam
cal interests that have been carrying
Inc Dag since last October are not
aNerSe TO peddlinS out many thousand
shares, which they viii buy back 1t
much lower figures. History repeats
EaSy money is responsible for the re-
lfvutnJ OF the maximum limit OF cir
culatiop, - banks cannot find use for
lheli SuTF'TS funds. owing 10 dullneSs
IN genera business. In order 10 re-
deem this circulation the Secretary OF
TIE Treasury made call for S4J.Cg09,0
OF Gov eminent deposits. but this had
no effect on the situation
II was case OF st. Paul Reading
Nh
higher ana higher. and dragging other
railroads after them. It was d case Of
those who had sold yesterday in antici-
pauOn OF reaction making an un-
scelnly scramble &c get into the band
wagon. covering their shorts and turn
about
The professionals. the plungers. AMI
the holders of securities We're all work
ing for higher prices, and slmDlN- by
wills
one Of the jokes on the Street is tho
TACT that number OF brokerage houses
which sold ont customers stocks on the
knowledge of conditions and hope Of
a reaction when they would he able
10 cover. have received orders TO sell
and nave been forced 10 cover on the
advancing market.
Louisville and Nashville surprised the
Street by gaining 2i2 points; Manhattan
turned 5S4 net gain easily; Missouri
Pacific I point: New York Central. 2
Nortnern Pacific, ~. Northwestern.
rs. Reading at HOS was point up
Illinois Central, rs higher; Southern
Pacific IL, ST Paul. 21s. but reacted
=. Union Pacific. rs: Atlantic Coast
Line. =. Delaware and Hudson. A.. and
many stocks Y 10 = of point. Indus
trials were steady.
Entering the afternoon. even into the
second hour. the market SlaCkened not
It's speed Here and there another stock
Jumped into prominence Consolidated
Gas and Chicago Gas taking the lead
elShip In the industriSls. while in the
second hour Steel preferred Joined the
upturu and advanced 2 point
Business was lively II there is not
rush of profit taking in the final hour
IL viii be case of surprise to close
observers
In the last fifteen minutes Of The ses-
SION the market became decidedly sofy.
the natural and expected result Of the
oaE imitation added on the boom prices
81 the last two or three DAYS The
ieacuon extended TO Is TO 1I5 on all the
readers IN the rails but the Steel shares
We're strong 20 the close and higher.