The Washington times., 1909-12-04
NEW YORK STOCKS CLOSE STRONG.
H-' HILLS MAKE GOOD GAINS.
ia' STEEL VERY FIRM.

NEW YORK. Dec. A-Close-While
the immediate opening was attended
with some recessions il values. it was
but few minutes before the market
assumed a more cheerful tone and
started on recovery of the losses, after
which Il remained very steady, save in
certain stocks where the show Of
strength was more prominent than else
where This was especially noticeable
In the Hills. and this proved something
OF a tonic for the rest Of the list for
they have been very weak and him
drance to the market for some time. The
Street has been afraid OF the probable
liquidation Of Kennedy holdings in the
Hi stocks. The fact that Mr.. Ken
nedy. who recently died I'm this city,
wac the heaviest holder OF stocks on the
records OF the Great Northern and
Northern Pacific books. and that il
might be necessary to liquidate the
assets IN order 70 provide for the va
rious requests in his will, has been re-
sponsible more than the sale of Harri-
man holdings for the severe breaks
Prices on these high grade per cent
dividend payers declined to a point
where they were desirable as invest
nents by conservative investors, and
this morning seemed 10 Indicate that
the uneasiness Is over and that the re-
covery will be more or less rapid,
though delayed at this time by the
strike
Wall street is inclined to take rath-
er more hopeful view of the situation
The holidays are coming on and there
Is a rumor that Mr.. Morgan has prom
Used a good bull market for that time
and he generally makes good. More
over. there is a rumOr on the Street that
the Government has abandoned its suits
against the Union Pacinc. There is a
large short interest in Reading and this
is helpful to the general market Every
time the bears get after II, II seems ia
yield, but on their covering the rally is
just as quick and effective before the
bears can get out. Lifts in Reading help
the list
Good buying was noticed in United
States Steel both common and preferred.
While sentiment was more cheerful.
the market evidenced the usual hest
lance about extending commitments on
Saturday. Commission firms had few
orders, and were doing little or moth
ing to help along the bull trend. Local
ut4lity stocks were to the fore, Consoli-
dated Gas and Electromagnetic
tan surprising their best figures OF
Saturday. Rumors that have been
freely circulated Of late concerning
these stocks were again reiterated.
Brooklyn Rapid Transit may meet q
little realizing at any higher figures,
but the Street believes that Il VIII be
we'll taken The magic name Of Nor
gan is being heard on all sides in con-
nection with local traction affairs.
Conservative operators can see moth
Ing 10 enthuse over, yet cannot believe
that the market is due for any con-
siderable decline after the heavy realiz-
ing that has taken place.
In the last half hour Of the session the
whole list moved Up sharply, and be
came much more active. Reading only
made = Improvement, but UTiOn Pacific
rose to 2015s or III higher. Easing
slightly. gains or iR6l& were made in
nearly all the rails Rock Island pre-
feIred gained points.
Copper was q higher. Smelling firmer,
Steel rose rs on common, and g on
preferred.