The Washington times., 1908-11-17
Sharp Market Leaders Wall Street and Also Washington Gas
STOCKS MOVE UP ON GOOD BUYING
BY THE GENERAL PUBLIC
AND INSIDERS.

NEW YORK, Nov. professional
traders were astonished this morning
when Union Pacific opened with a block
of $500 shares at 1924. a new high rec
ord for the year. and an advance over
night of is points. This caused a via
scramble throughout the list and every
thing moved briskIy to nigh levels for a
few minutes. Southern Pacific sold at
lISH, Steel at 57ss Rock Island pre-
ferred at 81, and other stocks accord
.mgIy. The public remained faithful,
and continued to absorb stocks, but re-
fused to sell in spite of the desperate
attempts on the part OF the profess
SIGNALS to raise a specter OF war in
Germany. Ii is probable that the Ger
man people are not half so anxious over
the Emperor's conduct of the empire as
are the Wall Street bears, who are not
only losing their money trying to find
the top of the market, but losing their
nerve.
The Street reports today were that an
announcement would be made in con.
nectiou with Southern Pacific preferred
stock in about a week.
The traction shares are being manip-
ulated. and foundations are being laid
Tor trouble. These stocks are TO he ad-
vanced sharply and unloaded on the
public. Purchase of a share of Inter
borough metropolitan or of Third ave
nue. IS speculation Long odds are be-
ing offered, and these stocks are being
considered a splendid gamble.
Good UndeTtOne.
The manner in which the market
has absorbed the liberal offerings OF
the last week or ten days is another
evidence of the probable fact that the
market has not reached its zenith,
that the big people who are sponsors
for il have not considered the situa-
IlOn as at all dangerous, but rather
conducive 70 better prices. The pro-
teSslOnalS have not the same conf
dence that the public seems 10 have.
With prosperity dope being played
up in all the leading publications of
employment for more people. the pub
lie has faith in the future and is
buying stocks right and left, while
the room traders are taking up the
minor stocks that have not responded
very freely, and following the leaders
taking prOntS often, this accounting
for the setbacks from time TO time.
Stronger Toward Noon.
After the first sharp advance the mar
ket eased off a little and trade remained
rather slow for a few minutes, but
about noon Union Pacific started going
mp and Southern Pacific and Reading
kept even step and pace. Then the
market joined, and there was a good
tone and higher prices throughout the
list
The strength continued and some fur
Their advances were established. Louis
Vile and Nashville surprised its friends
with a gain of 2la points, going to 1lSis.
New York Central was another feature
stock moving mp 10 H. or points.
&c. - H.HnH
St Paul held its own, and that was
about all Missouri Pacific gained =
point. Union Pacific rose TO 1881, ATTAIN
tic Coast Line points. 10 ltl. while Bal
timOre and Ohio added another rs to
it's big gain of yesterday, selling 10
1U9aa- Great Western, one of the lowest
priced stocks on the list, rose 10 per
cent, or to 14lk. big Four" an inactive
stock, added ~ points 10 its market
value. selling to 49,. Reading moved
up TO 40
Industuals.
In the Industrial list Locomotive gain
ed =, SIoss-S Sheffield. IL; General EleC-
trio. a point. and Anaconda, Z. Steels
were steady.
During the early part of the after
noon the market remained firm with
prices not far from the outside.
Curb Market.
on the curb market Silver Mining
shares were under leadership Of La
Rose, Nipigsing and Mckinley DarraEh.
Il is reported that Cobalt Central has
made another rich strike in the Big
Foot GOIddeld shares were inactive.
b. Copper stocks were dull on the curb
and on the inside market A few min
utes before the end Of the first hour,
Union Pacific sold at 1S3 and Southern
Pacific at 1852.
In London Americans were lower
when New York opened. but toward the
close abroad prices hardened and a
general advance was seen in the list.