The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-11-06
GREAT GAINS ARE MADE IN STOCKS.
BULLS IN FULL CHARGE AND
RUNNING THINGS

NEW YORK, Nov. 6.-WaH Street
was in splendid humor with itself this
morning. From the other side came as
surances that the possibility of a rue
ton between Germany and France had
passed over without leaving anything
more serious than a rumor in its wake.
while London accepted the changed
conditions with great relief and started
TO buy American shares with much
energy.
Then came the Taft announcement.
Go ahead and do business. so long as
you keep within the law" and the
Street accepted this as meaning the en-
forcement Of the Roosevelt policies.
but in a different way, using different
methods. and accepted the belief fuIfv
and with the confidence Of peoDIe who
do not anticipate any dangers threaten
ing the country or the prosperity of the
ration for the next eight years at least.
Bulls Start to Work.
On the strength of these conditions
y was the proper time to whoop stocks.
hartman. Morgan, the various pools.
ana the general public so considered il.
and the market became very active
rom the tap Of the bell, with sharp
advances throughout the list. Every
IiAg was higher-raiIs, industrials. and
Do-lds-the feeling being one of com
tented confidence.
me lndustrials as a group moved un
point or two under the Lead or SD,I-
ter and Copper. On all sides indus
tTlal reports indicated the turning If
the tide. the passing Of the 60 Der cent
producing capacity and the entrance
y we ~ 10 30 per cent capacity, with
AZ almost certainty Of the speedy re-
t1rn 70 par although there are MANY
opsTaIons that viii await the In
SugnTatiOn before being pushed 10
completion. 10
Big Interests Bullish.
The big men stood under tba ,,s,lyo+
IN excellent manner right from the
start and market orders were nm
merous from all sections OF the conn
try. Naturally enough, the sharp ad-
vance that followed the openInu
ofought out some proft-takiug. and
ThIs feature OF the market NAV be
expected from time 70 time, The end
OF the one-sided markets is al hand
spectators and room traders are
ouIllsh- They buy stocks and take
pronts and buy again.
London Bought 10000 Shares.
London bought IN all about 10000
shares in the first hour. The strength
or the market is an Incentive to pro
1esSionals and people who sold stocks
before the election TO buy them hack
London sold Northern Pacific and
Union Pacific before the election
cleaned out the stocks there, and
many continental holders did the same.
They want them back.
Union Pacific opened at 1761b. a three
quarters advance, and it did not take 1t
very long to advance to lT7sz. The re-
scuon was but One-quaTJcr point
southern Pacific opened at III also
three-quaTuers better. rose 10 IIIsf ana
reacted to 111ss. Northern Pacific three
quarters better at 1874. moved to 1885, /
eesed or TO 1875 and rallied Oue-uuarter
missouri Pacific was Cne-quarter bet
ter. Baltimore and Ohio gained T.
chesapeake and Ohio =. New York
Central was one of the strong stocks /
or the day. advancing two points al
most Immediately and remaining very
nrm throughout Wisconsin preferred
was ia higher at s..
Big Industrial Gains.
In the industriaIs smeIter improved
nearly two points to 95ss. and was
steady sTithin L OF high. Locomotive
was rs better. Sugar gained =. Wooden
Goods. y Anaconda was rs better.
and Amalgamated 2 TO SO.
The Steels were strong and frac-
tiOnally firmeT
Everybody expects q reaction, but
they DO not know just when il will
come, They are not willing, however /
70 permit the market to get away from /
them on the upward turn, bat VIII /
follow and try and turn quickly, when !
the market does. AT least that is the 2
program Time viii tell whether or not .
they can do It.
Another Boom.
Ate resting for a few minutes in the
last hour OF the morning, the market /
started the afternoon with a hurrdh I
amid Wild trading, sharp gains were
made throughout the list under the lead /
ership OF Union Pacific, st. Paul, and /.
New York Central
The Hartman clique bOssed the market /
for sure and certain there were great D.
gains throughout the list
New York Central turned TO lll2, a T
gain of over 81 points for the session, I
and the top prevailed at 1880 o'clock I
this afternoon.
Union Pacific rose TO 1871 02l2 advance. !
st. Paul rose TO l4Il3 point advance. /
Baltimore and Ohio turned S.
Illinois Central rose to 1872. and the /
whole list moved up by fractions. and /
the gains were all we'll sustained. {
- was an Old-fashiOned bull market, !!
with q hurrah, a market when the