Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-28
MANY STRIKING GAINS
No Explanation for the Notable
Animation Today.
MARKET OPENED STRONG
Advancing Tendencies Kept Up
Greater Part of Time.
AMERICANS FIRM IN LONDON
Increased Volume of Business in
Stocks and Bonds-Railway Adj
vances to Four Points.
Special Dispatch to The Star.

Special Dispatch TO The Star.
NEW YORK, December ga few
weeks ago such an advance as took place
in today's stock market would have at
tracted only a small amount OF attention
and, indeed, would have been referred to
the general circumstances Incidental to
the election of Mr.. Taft. In the mean
time. however, while sentiment in Wall
street has remained optimistic, there
have been such irregular fluctuations in
prices that rising as we'll as falling mar
kets are required to afford more definite
reasons for their movements than here
tofore.
At all events today's market at one
time or another showed such a large
number of striking gains as inevitably
specific explanations Of the animation in
securities. Curiosity in that regard, 1t
must be said, was not gratified.
The market opened strong and retained
that tendency during the greater part of
the business session, with occasional
periods of actual buoyancy. 1t was ap-
parently the case that the protracted holt
day had resulted in an accumulation OF
buying orders for outside account and
these did not have to contend with any
material amount of liquiation or profit
taking sales.
American shares were firm in the Lon
don stock market. but the rapidity OF
the early rise in prices precluded profit
able operations for foreign account. and
very little was done on direct orders.
Local fractions Prominent.
There was considerable increase in
the volume of business. both in stocks and
bonds and the railway share list showed
numerous advances, ranging all the way
from fractional limits to upward of three
and four points in the higher-priced
All the local traction securities were
prominent from the outset Of the trading,
although some of these issues made such
extensive advances as naturally to invite
heavy prof1t-realizing sales. 1t is now
the common understanding that in the
pending reorganization of the Inter-
Metropolitan system the securities con-
cerned subject to assessment, will be
called upon for much smaller require
ments than had been considered likely
the issues concerned will escape alto
gether any contributions to the general
plans OF readjustfnent.
The Industrial and miscellaneous stocks
moved in line with the remainder Of the
market. The most extensive advances
in that department were scored by Con-
solidated Gas and General Electric. The
advance in Consolidated Gas was ap-
parently based upon little more than the
fact that the Supreme Court will recon-
continues strong that the company will
be upheld in it's contentious in the eighty
cent gas litigation.
Extensive Advances.
Amalgamated Copper and American
Smelling were both very strong and active
and during the greater part of the day
moved almost In unison. National Lead
was comparatively heavy, doubtless be-
cause of differences drawn from forecasts
of a revision Of the tariff.
The railway share list furnished by far
the greater part of the days transactions
in the general market. long list of ex-
tensive maximum advances was recorded
there, including the gains made by such
stocks as New York Central. the Hill
shares, Chicago and Northwestern, Union
and Southern Pacific and ST. Paul, not to
enumerate those in many of the railway
specialties. 1t would be quite useless to
recite the gossip attaching to the transac-
tons in this quarter of the market, and
actual facts were altogether missing.
Money market and foreign exchange
conditions showed little alteration. and
there was no disposition apparent to re-
view the really strong exhibit made by
banks in their weekly statement of aver
ages of last Saturday