Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-24
Strong Opening Followed by a
Rapid Advance.
SOME EXTENSIVE BUYING
Union and Southern Pacific Led Up
ward Movement.
BALANCE OF LIST AFFECTED
Substantial Increase in Dealings in
Both Stocks and Bonds-Local
fractions Unusually Active.
BALANCE OF LIST AFFECTED
Special Dispatch TO The Star.

Special Dispatch TO The Star
NEW YORK. November 24-Today's
stock market opened at a generally high
CT range of prices in comparison with
yesterdays closing figures. but the trans
actions at the time were upon very
limited scale and largely of professional
character
The opening tone was in great measure
a reflection of the gratifying success of
the New York city bond sale yesterday
but after the early transactions the mar
ket laDsed into extreme dullness. That
condition was however. broken before
the close of the first hour at the time
when announcement was made that the
Southern Pacific Company had made an
plication to the stock exchange for the
listing of S14.S66, 400 additional common
stock, a sum about equal to the present
outstanding amount of the preferred
shares.
This intelligence led to very rand
and extensive advance both in Union and
southern Pacific. and the upward move
ment In those stocks quickly extended
TO the remainder of the railway list and
indeed to other departments of the mar
ket
The Southern Pacific DEVELOPMENT has
been expected for several weeks. although
there has been some uncertainty as TO
IL was indicated by the course of the
hartman shares today that upon this
occasion the event had been far from
discounted.
Notably Strong Features.
other notably strong features of the
railway list were ST. Paul, Atchison, New
ork Central, Baltimore and Ohio. Ches-
apeake and Ohio, the Hill stocks, Ca
madam Pacific and Reading. A number
or the railway Specialties likewise rose
smartly, and, in fact the market at large
showed a greater degree of animation
IMAM has been exhibited at any time with
In the past ten days There was SUBJ
stantial Increase, in the dealings in both
stocks and bonds, and the transactions in
the latter were marked by noteworthy
strength.
In the industrial and miscellaneous
group, the most striking movements were
those noted In the Consolidated Gas and
Brooklyn Union Gas issues. 1t is hardly
necessary To say that the animati ton in
those securities was based entirely and
exclusively upon the general immersion
which now amounts almost to conviction
that decision favorable to the gas COM
panies would be handed down by the Su-
preme Court at Washington, when that
body reconvenes after its fortnightly re-
cess.
Other Noteworthy Movements.
Other noteworthy movements in this
quarter of the market took place in Cen
eral Electric, Westinghouse Electric
American Can preferred. Amalgamated
Copper. American Smelling and New
York Air Brake. The United States Steel
shares were comparatively heavy at the
outset of the dealings, but they also raj
lied vigorously. in common with the re-
mainder of the market
All the local traction issues were like
wise strong and unusually active. Direct
and novel explanations of the movements
in that group were not. however, obtain
able except along very general and technl-
cal lines.
The London stock market was heavy in
all departments, and foreign houses were
sellers here on balance upon small scale
but the local market ignored those Cir
cumstanceS from the outset
Money market circumstances showed
little alteration, and sterling exchange
rates advanced sufficiently as to lead to
some discussion with regard to the like
lIhood of exports of gold.