The Washington times., 1909-06-24
UNION PACIFIC GAINS THREEPOINTS.
CHANGERS STRONG ON GOOD
CROP OUTLOOK.

NEW YORK. June 94-While the mar
ket was both active and strong in spots
there we're many stocks that moved
within a narrow range and while hold
ing their own did not materially i'm
prove Once more it was a Hartman
market and reports concerning some
thing indefinite upon which the Har-
Timan was working. started the market
20 discounting vague and uncertain
possibility. Union Pacific was the one
sensation in big rise.
But 1t was also a fact that the crops
cut much figure in the news OF the
day. The general impression is gaining
ground that 1903 is to be bumper crop
year and the Government report to be
made public July is confidently ex-
pected to bear out this theory. 1t is on
this prospect that much of the late buy
Ing has been predicted.
The general gossip was without es-
pecial significance other than as it re-
lated to the outlook for crops and a
vague something"
Speculative interest was not large.
The weather was against activity in any
direction not absolutely essential. Room
traders looked in on the boards but
were not inclined to dc much one way
OF the other. The West sent in some
buying orders IN the grangers and
Reading. the latter again coming into
favor, the refusal of the directors to
Increase the dividend being forgotten in
the belief that they will raise it next
time.
The industrials were rather firmer,
but did not make much Roadway. The
Iron Age asserts that business is not
overly active, but that prices are being
advanced Basic and Bessemer pig ad-
vaneed % cents a ton.
Narrow Market Predicted.
II is probable that the market viii
continue TO move in more narrow
grooves for the next fortnight. unless
the unexpected should happen Bull
sentiment is more or less subdued, but
the bears find little comfort because the
stock 10 cover can only be obtained BY
bidding up values. Then aggressive in
fuences are absent-the vacation sea
son is at hand and summer weather is
here with a vengeance. Under these cir
cumstances the market would be but
natural If It moved within narrow
range.
Union Pacific set the pace, and so far
as this one stock was concerned il was
a decidedly fast one. II opened a fun
point higher at 1925 and rose within a
comparatively short time to 1875, easing
OF fractionaIly. from this 2sl-pOint gain.
Southern Pacific added over a point to
its price.
In the rest of the list the gains did not
amount TO niuch-St. Paul S, Reading
6sdst. New York Central a point, Great
Northern, Nipper, and Atchison, with
luNf Tr7art IA r CT .
roads a small fraction
Afternoon Market
Passing into the second hour of the
afternoon the market was moving along
slowly, with a fair show of strength.
although Union Pacific was OF fun
point from the high Of the morning, and
as the leader yielded the whole list
showed a disposition to follow in the
same channels. but not 10 the same de-
gree. Union Pacific still held about >
points OF its advance. Reading q, South
ern Pacific s. St. Paul hd2s, while the
ma jority of the minor rails we're slight
~ above the closings Of yesterday
Steel common receded = TO G55s while
the preferred moved up like fraction
to 124. making II $ above yesterdays
closing Smelling was Z better at 500,
and Copper steady at S09s-last nights
closing.
The Hills and New York Central were
strongest OF minor rails.