The Washington times., 1909-10-29
SHARP GAINS IN THE STOCK LIST.
RAILS AND INDUSTRIALS
ADVANCE WELL HELD,

NEW YORK, Oct. 81 p. m.-The list
Is holding splendidly without any sign
of shading Steel common 81, Southern
Pacific 1885, Union Pacific POPS. Read
ing 1884,, Great Northern 1875, and
Northern Pacific 1863. All industrials
are strong.
NEW YORK, oct. 29.-And still the
trend of values is toward a higher
range, while the gossip is largely bear
ish. although not quite as pessimistic as
II was week ago. Money is working
a little easier and this helps the situa-
1ion. But the advance is largely based
On conditions-conditiOns in the manu-
featuring field such as actually defy
pessimism in whatever form 1t develops.
The steel, electric, locomotive, car foun-
dry. car companies generally, and every
variety of manufacturing endeavor Is
most actively employed Railroads that
have conservativeIy refrained from plac-
ing orders during the period when it
was necessary to nurse earnings even
at the expense Of maintenance. have
dropped their coddling and are making
every preparation for the fast increasing
business, getting ready in every branch
10 care for the business that is coming.
up together, although the average gains
were more noticeable in the former, and
steel common was once more the lead
er- We hear further talk Of par for
little Steel, but such gossip may well
be queried. One-third of the transaC-
tons on Thursday were in this one
stock, and this is not healthy indica-
ton.
TOmorrow's bank statement is awaited
with interest, and then Tuesday will be
holiday. It is likely that there viii
be more or less evening-up before the
close Of the day. and some prOht- taking
on the higher prices. While gossip from
the Street has changed TO a more Ia
Yorable opinion. many of the conserve
tive brokers still advise the purchase on
breaks and the sale on rallies.
Until such time as the probability OF
a money Stringency has passed Il IS
more than likely that the rallies viii
meet with checks, although Of late 1t
has been evident that the market was
holding at least a little Of every days
advance.
Union Pacific Shorts Cover.
The attempt made to check the market
and bring about reaction through per-
sistent selling of Union Pacific yester-
day afternoon in the two hours before
2:30 failed. and in its failure created an
opening and stronger tone this morning.
just as 1t did the strong close last even
ing. The sellers tried to cover, and
found the stock held very firmly
The copper stocks moved up very
sharply on higher prices on Rio Tintos.
and an advance in the price of copper in
LONDON. There was also a report to
the effect that President Corey. of the
steel Corporation, would resign to ac-
eept the presidency of Anal gamated
copper. Western Union joined in the
strength on reports of the best earnings
IN the history of the company.
A feature of the market up to the
middle Of the first hour Of the after
noon was the fact that there were no
recessions worthy Of comment 1t was
case OF holding more determinedly
TRAN for weeks As usual on such strong
spots the market quieted a little, but
every quiet spot was followed by a re-
Fival OF trading after A few minutes
rest It was a day too when there
were few exceptions TO the rule of add
cd values. The Hill shares joined with
the upward push, and the cheaper Sc
Curlties appeared 10 attract much at
tention-
Advances ~ to Points.
The net gains varied from 1GI5k to .
points The Hi shares, Copper Union
Pacific, Sloss-ShefheId, Car Foundry,
Reading and Snsslting made about the
maximum advance. Steel common rose
is, the preferred =. Union Pacific
turned 2o21s for high The whole list
was higher and gave no indications Of
reversing during the final hour, al
though IL would not be surprising 10
see some shading before the final close.