The Washington times., 1908-11-13
Steel Advances Leading Industrial Strong
BROAD, ACTIVE STOCK MARKET
WITH SHARP GAINS MADE ON
ENTIRE LIST.

NEW YORK, Nov. 13.-The millions
on millions of invested capital in rail-
road and industrial enterprises are
worth more today than they were yes
terday. This Is getting 10 be an old
story, a tale repeated almost every day
for the last two weeks and with more
or less persistency and reiteTatiOn since
the Hartman clique undertook the At
las act, and assumed the responsibility
of advancing the entire stock market
in the face Of adverse influences and Of
pushing It still higher when the election
result was known.
Steel Clearly Features.
Only the peculiar features Of each
days transactions are interesting. Yes
terday steel common touched SO. the
highest price on record. and the brok-
ers nave three lusty cheers for J, p.
Morgan, whose prediction as to the ac-
tual value Of the shares was fully justi-
ned. This morning Steel common made
new high record and was clearly the
leader IN the activity, moving up to
57@s, a block OF 1900 shares changing
hands on the opening sale. Thansac-
tons in Little Steel" continue very
active and there is no reason why 1t
should not make another high record.
Business Is improving and the ultra
conservative Steel management stands
high with investors. People generally
expect an Increase in the dividend rate
IN the near future and they Will prob
ably. not be disappointed. The pre-
ferred stock moved up to ia, which is
toppy Tor It, but with an almost posi-
tive certainty or ability TO pay per
cent dividends ringht along, the stock
is very cheap
big Buying Orders.
Enormous buying orders were in evil
dence, commission and private wire
houses showing a very large trade Sor
tie public's account. Room traders
Hlled brokers offices in all the large
cities, as well as here, and orders were
executed In practically ali stocks on the
! last, with activity in the minor rails and
low price securities generally.
Not only did the leading and minor
rails move up under the stimulus u the
Eood buying, but there was ACTIVITY and
Re neweu strength in all of the indus
Itlals' copper, Car Foundry, Sloscs--
SheHieId, Locomotive, Republic Steel
and Iron, Pressed Steel Car, and Chi
CagO Gas being the leaders, with gains
averaging la4l point
The Rails
AtChison advanced "A point, Baltimore
* Ohio 4, Manhattan 27s, Louisville and
Nashville /, SaUlJ Ste Marie 2 points
Texas Pacific q point Wisconsin Central
AS and Ontario and Western z.
The more prominent rails made larger
gains. Northern Pacific scOId at I52 TO
l123s, a full point gain. Southern Pa
.ihc was very rirm, advancing to 1855
on ~ higher, and most Of the advance
was held throughout the early part OF
the session and well into the afternoon.
81. Paul points up TO 1854, Union
Pacific sold at 1898 at the start, q ad-
vance, moved up 10 1875, with increased
strength. Reading gained a point, as
did Pennsylvania.
Continues Strong.
Il was a bull market during the
greater part Of the day. indeed there
If there was much pFoht-taking the
market took it without a shiver. II
the insiders have been selling Of late
il is likely that they have started buy
ing again with a view OF keeping the
public interested in the market.
Some traders are looking for another
Hartman announcement, although they
admit that they do not know the ma
ture of the expected development
Reading turned 40 and Steel common
5S this being another new high. Della
ware and Hudson added two points to
its gain.
The whole list moved into the second
hour of the afternoon with a good, firm
tone, with prices at or near the top
of the days range, and with commits
sion houses showing a bullish front, /
although constantly advising the tax
ing OF profits.