The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-04-10
NEW YORK STOCKS
MAKE GOOD GAINS
Movement Believed to Be
Largely Due to ManiPula-
tlon-Some Sharp
Advances.

NEW YORK, April 1O-The general
trend Of sentiment on the Street this
morning was bullish. The Hartman
role of saviour of the Erie was expected
10 aid the Union Pacific. Just how no
one was in a position to tell. but in
view OF the fact that the master mag
nate is notin the habit of doing things
. for pleasure but rather for profit the
Street expects that the results viii be
10 the advantage Of the Hartman IA
vorite. the Union Pacific. The Erie,
however, is one Of the lines from which
the Burlington draws Western cOnsign-
ments for the Union Pacific, and, there
fore, Hartman had a social interest in
this way.
One can find any kind OF views on the
market he may desire, by consulting
New York brokers. Some and bearish,
others who have been in the depths OF
gloom over market conditions are be-
coming more cheerful and can even see
good in the bull side. while more mod
esa and conservative houses see nothing
in railroad earnings. general business
or politics that should result in creating
confidence or leading an inspiration to-
ward higher prices. Some tlpsters ex-
press the opinion that the distribution
OF stocks is going on quite rapidly and
the market being manipulated 10 aid
in the absorption Of securities
Others hold that conditions are bet
ter. That the trend of sentiment has
changed until the aDtasOaiSm against
railroads has changed and that no ad-
verse action can result in the present
Congress. II Is also claimed that the
political situation is clear Of dangerous
entanglements- II might worry poll
tiCian to tell just what process OF rea-
but Wall Street makes it's own rules.
Despite all this, the buying Of the
stock list was largely by professionals,
with but little public Interest Europe
was very dull, refusing TO enthuss over
the Erie matte Investment hOustS
report many orders from outside par
ties TO sell Erie stocks outright
The elimination of Nj. Hughes as a
Presidential candidate is having
SOLDERING effect or the Street, as IL Is
more than likely that he VIII remain In
Albany. Fear Of forcing the tni-betting
law despite recent defeat. is SOLDERING
The BROOKLYN RaDid Transit lection
The gains were quite marked In the
Fries. Union Pacific, New York, and
Chicago Gas. Baltimore and Ohio, and
a number Of less important stocks
Northern Pacific and Great Northern
did not show the strength that there
was in Hartman issues-there being no
inside manipulation on these shares.
Some stocks continued 10 adVanle well
but others showed slight reactions indi-
eating a disposition TO take profits. De-
spite the fact that the market was ma
nipulated the general list scored good
advances and the bulls were in high
temper. The bers did not do much Of
anything TO retard the advance, in fact.
the bear interest is apparently wait
ing more bearish news. The line Of
outstanding shorts is not heavy.
The little reaction in the first hour Of
the afternoon brought most Of the gains
down to fractions. except on a few
specialties where the gains were more
marked. Both Chicago and New York
We're very firm General Electric turned
a four-pOint gain. as business was re
ported improving and the old favorite
found many friends. Baltimore and
Ohio also advanced IL, just why was
not indicated. Union Pacific lost part
of its gain to net of = Improvement at
1.30 this afternoon. Southern Railway
preferred was off IL. Pennsylvania,
New York Central, and St. Paul were
fracJiOnally higher.
The Fries held part Of their advance
the larger part Louisville and Nash
vile gained Pa points. Smelter and Cop
per stronger on reported increase in
business. Steels easier Mexican Cen
tral declined on the proposed reorRan-
ization plans approved by the Mexi-
can government
The market was moderately active.