The Washington times., 1908-12-28
SHARP ADVANCES IN ALL STOCKS,
WITH THE OLD LEADERS
AGAIN TO FORE.

NEw YORK, Dec. 2S.-With the
Immediate opening almost the entire
list started climbing up the price
scse and the unanimity of motion
surprised the Street and also caused
some apprehension as to whether the
g6t was not 300 fast Wall Street
w5 glad to ind that the triple holi-
da- had passed without any untaVOr-
abe developments. Moreover, the
proposed corporation regulating plans
AM measures in relation to the tunc-
tius oS the Interstate Commerce
Commission, advanced by President
elct Taft, have been considered by
Wall Street and an 20. X" placed
trreon.
stocks began their upward move
rnsnt right off the reel on the tap of
tle bell. The gains were not slow
ard moderate. but jumps of One-Lalf
II tie higher, the list remained almost
stationary, or with setbacks and re-
c,veries until well in the afternoon.
Union Pacific Leads.
1t was a market for the old-time lead
rs as against the recent display OF
strength and activity in the low-grade
heap stocks. Moreover there was but
title activity in Colorado Southern,
Missouri, Kansas and Texas, Missouri
Pacific u abash and other stocks OF
like class, Union Pacific. Northern
Pacific, Southern Pacihc, New York
Central, and Reading being the leaders.
The gains in these stocks averaged l4-
points. Chicago and Alton Illinois Cen
traI, and Missouri Pacific SHARED in the
advance, with over a point advance.
Colorado Southern WIS neglected. The
fractions shares were very hrTn, and the
entire industrial group did well.
Before the tap OF the bell there was
some uneasiness over the possible ei-
feet of the failure of II. w. Poor &
Co, but as the firm had not been promi-
nent in the late market dealings, the et-
feet was absolutely nil.
A Main Force Move.
The manner in which stocks rose, and
really without any good reason there
FOR. created suspicion that it was but
another clique movement, a main force
shove in an upward direction, and that
it was intended for the purpose Of find
ing hard spots on which TO distribute
stocks. II may be that 1t is the inten-
ton OF the Hartman people TO give
the market such a boost. such tone and
strength. having in view the probablil-
ties Of securing the TeinVeSJmcnt OF dlNl-
dends and interest payments In January
or il might even be that reinVestmenl
these
chances are that break would oElng
reinvestment quicker
The ease with which the market has
recovered practically the greater par
Of me break of the week OF December
l4-lg and of the riTSt day Of last week
WAS a revelation to the shorts and vii
probably make them hesitate before
taking the bear side - the list again
although they do not feel that the ad
vance Is warranted by conditions ont
Hr.gN
New York fractions set u fast pace
rising rapidly. Third Avenue rose y.
in a jiffy. Brooklyn Rapid Transit ros'
Is, and InterbOrO IL TO new high a
Imost the entire industrial list dis
played a firm front. Copper was ~
higher. Smelter IL, and Little" Stee
g Preferred Steel unchanged {,
hrmer. All the iron and steel stock!
were firm, and the whole list held th'
greater part Of the gains without receS
sions until well into the afternoon.
Passing along in the first hour Of tht
afternoon prices moved up another hall
point all around. and the strength Wa!
so positive that il checked the Slightes
inclination on the part OF the bears {,
test IL by a few selling orders, all offer
iugS being quickly snapped up ani tht
strength continued to develop
Equipment Group Higher.
In the equipment stocks new higl
prices were recorded. The fact tha
these companies must soon be very busy
with orders helps the advance in them
Locomotive, Railway Springs, ant
Pressed Steel Car being the grOuI
known as equipment stocks
on the last rise the market passed
well along in the second hour Of the
afternoon with Union Pacific lS32t
Great Northern l474. Reading lHas
Northern Pacific 14212. Smelling SSI4, anC
with the SteeIs at 545s and lib for the
common ana preferred, respectively.
Il was a strong list II IS but natura
10 expect that there will be some receS
SIOuS from high in the last hour on Lh(
taking Of profits by fortunate LONGS.
While there were some reactions from
the high point Of the day, the closing o
the market was not very far from tn,
top. In the last hour business Subsidet
and transactions were very limited. tn,
ticker being silent frequently. PraCti
cslly every stock on the list made gOOC
gains and the feeling was one Of con.
fdence IN the ability OF the market
manipulatOrs TO work their Will. a
Tf.- "a str