The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-01-13


NEW YORK, Jan. 81 .. m.-There
was but little hesitation at the opening
of the market, the boom of Saturday
being continued with added interest.
strength breaking out here and there
throughout the list in the heretofore in
active stocks. Gossip has it that the
Standard oil people have been behind
the advance in St. Paul but not of any
other stocks, but rather a seller in
some securities J. 2. Morgan is a factor
and has been in the advance in Read
ing, but his position on the rest of the
market is not known. He has hoated
part Of the New York Central loan
very successfully. The increasing ease
Of the money market is casting all
other influences into the shade Money
was actually offered at per cent, tell
ing the story better than columns OF
figures. Commission houses report a
splendid Investment demand and brok-
ers' offices, heretofore occupied only by
the semi professionals, are now crowd
ed by traders and probable investors
VINO are watching closely every move
ment
That they anticipate a setback is evil
dent, but that they VIII wait for the
turn is not 50 certain and they do not
ike the idea Of the market getting away
from them.
Shortly after the rise of the first hour
the leaders of the market suffered q
small reaction, while some Of the mac
tive stocks were very strong, yielding
not q whit.
Louisville and Nashville seemed to
have many friends, and the gain that IL
made encouraged buyers 10 take on
Sticks that, like II, are in the non
active list. In this Chesapeake and
Ohio, Norfolk and Western, and Atchi-
son proved leaders instead Of laggards,
the gains in the securities specialized
amounted TO 3 points on Louisville and
Nashville, = on Chesapeake and ohio,
and IL on Norfolk and Western.
Baltimore and Ohio gained point 10
Sys4. and lost it Great Northern added
1913, as compared with close at 1215a
On Saturday. but il lost all OF its gam
before the middle OF the noon hour save
u. Missouri Pacific gained s, and New
4OTk Central y. Pennsylvania and
Rock Island We're slow and steady.
Onion Pacific advanced to I26 or rs,
and lost il entirely Readings gain OF
III was turned into a loss of "a net.
The industrial situation is improving
but slowly and while many mills are
opening, there is not that confidence
that tends 10 successful operation.
Prices are being put on a lower basis,
especially on iron, steel, and tin. The
refusal Of ore mine owners to make
prices for ore has caused some uneasi-
ness.
Nevertheless, the industrials on the
New York list were strong, even under
such unravOrable circumstances. Cop
per, Smelter, and the Steels showed
little change though the two former re-
acted a fraction below Saturdays close, !
yet the Steels held firmly
p m.-Entering the second hour Of
the afternoon the market became easier I
and the tendency to take profits much
mere pronounced. It was but natural
Win the excellent advance Of the last
wee kthat there should be a reaction
1t has been expected and the profess |
SIGNALS were surprised that il had not
naterialiZed before The bears were
ready 10 take a hand in the game for I
lower prices and helped on the reaction. |
IN the declines, which amounted to /
about a point net below the figures Of |
the noon hour, Atchison surprised the |
market with its strength, and while /
Steel, preferred, went off, the common
shares stood very steady. The volume /
Of trading was quite large and some
investment limit orders were filed. The
prospects were for continued activity.