The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-09-21
Morning Market Steady.

NEW YORK, Sept G.-NoOn.-The
stock market during the morning has
been steady with a strengthening ten
dency. some stocks showing substantial
gains. while others have slung around
the opening figures. showing but frac-
tional changes either way. In general
The railroads are strong, copper and
steel leading among the industrtals. and
few specialties attracting attention
The greater part of the list is nOmina
and trading narrow.
Erie opened an eighth down. gained
q quarter and fell back TO the opening
figure 1855. St. Paul opened at yester-
days close, sold UP nearly a point, and
lapsed 10 Is below the opening to 1921
Reading went through about the same
course on a wider scale OF fluctuations
Opening at 1709s it sold to 1915. and fell
back to 1l21s. Steel has been compare
lively steady under "A good volume of
trading. 1t opened at S454. lapsed to S39s
on a drive caused by a lot of selling
orders. and has gained the loss since
about the middle of the morning.
A strong pool is reported as buying
Anaconda Copper There is reason Tor
believing that foreign interests are in 1t.
The stock has been accumulated for a
long time. Favorable developments Of
some kind are rumored to be pending.
Traders Buying Steel
Floor traders are purchasing Steel
preferred. Morgan interests are said 70
be preparing TO advance that stock. 1t
is stated that the recent buying has
been inclusive of a great deal OF invest
ment and that the offerings Of stock
from now on will be comparatively
small. The stock now returns approx
mately 81 per cent and the proposition
IS said 10 be TO put il on a . per cent
basis which would mean a level Of 40.
According TO a dispatch from Chicago,
the Pittsburg Steamship Company
til.
Corporation. has placed with the Great
Lakes Engineering Company orders for
three 6tJ-fOOt ore carrying vessels, cost
ing over 100000 for the ore and coal
trade on the Lakes. With the compile
ton of this order and the two boats
like the design recently ordered. the
American Shipbuilding Steel Corpora
ton viii have nineteen 600-fOOt boats in
its feet
Judge Gary Returns.
Judge Z. II. Gary. chairman OF the
Steel Corporation, returned today on the
Kaiser Wilhelm. Judge Gary expressed
himself as being optimistic on business
conditions in Europe. He said condi-
lions over there have shown consider
able Improvement, particularly in Eng
land. France, and some little in Ger
many. Money is plentiful, especially in
France. He noticed in France, England,
and Germany an increased interest IN
AZ
are steadily investing them. This de
sire is partly due. he thinks. 70 the
fact that the taxes on home securities
are high and our stocks are cheaper 70
invest in
Europeans. particularly IN England,
have great faith IN our prosperity, upon
which they are more or less dependant
This dependency has been growing and
the result is that their commercial re-
lations with US are now much closer
than ever before
Judge Gary spoke OF having been
brought IN contact with the steel trade
abroad through the banquet rendered 10
him by the Sheffield chamber OF COM
merce. at which the steel manufacturers
from all over Europe were present Steel
conditions in England. ne said, were
quite dull, but there was a slight
Improvement IN Germany. The feeling
both in England and Germany iowa I'd
our steel manufacturers is friendly and
there is a desire particularly II Ger
many, 10 keep in close touch with US.