Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-12-04
CLOSING IS bUOYANT
Demand for Stocks Broad and
Animated.
ONLY A FEW EXCEPTIONS
Many Rumors About Forthcoming
Taft Message.
RECORD FOR ROCK ISLAND
Railways Lead the Strong Features.
Industrials Were Irregular and
Less Conspicuous.

Special Dispatch TO The Star.
NEW YORK, December 4-Something
like an evening-up process took place In
the stock market this morning. This was
natural, after a week of such feverish
fluctuations influenced by unfavorable de-
velopments like the switchmen's strike,
and by nervous apprehensions with re-
gard to the way In which the congress
sional session might be started next week
by President Taft's recommendations.
Wall street was filled this morning with
all sorts of rumors and conjecture about
the message, some disturbing and some
reassuring, and under the circumstances
1t was not surprising that good many
traders preferred not to carry commit
ments over until Monday. At the same
time there seemed to be some confident,
although not aggressive, buying Of an i'm
portant sort in leading issues, and the
market, as a whole. had a decidedly
strong tone during the greater part Of
the session.
The northwestern group of railroads,
with the exception of St Paul, which
was only firm, was especially strong on
short covering, induced by the Roadway
which these railroads are apparently
making against the switchmen's strike.
The actual news from the seat of diff
ficulty and the course of prices In the
stock market rather contradicted the
narrowing statements issued from Chi
cago that tremendous tie-up OF all OF
the railroads of the country was likely
to grow out Of this controversy.
Strong Features.
In view of the decidedly ill-advised
course which the switchmen pursued from
the beginning, it is hardly likely that or
ganized labor in the railroad world would
care to attract public attention by eff
fecting an overt conspiracy to restrain
trade.
Other strong features Of the dealings
were the Rock Island issues, the preferred
making new high-price record; Pennsyl-
vania. which displayed considerable vigor,
and the local traction stocks. Console
dated Gas moved irregularly. and was
under profit-taking pressure. In general,
the industrial list was more irregular
and less conspicuous than the railroad
quarter. although United States Steel dis
played influential firmness.
There was not much in the routine
weekend news calculated to exert a di-
rect effect on security prices. Foreign
exchange closed the week with net gain
the foreign exchange market Is now a
cent higher than In the corresponding
period last year.
Trade Reviews.
Albeit, the course of foreign exchange
IL, so far as the stock market is con-
cerned, somewhat offset by the domestic
exchange movement indicated by the
premium of 40 to 30 cents, at which New
York exchange at Chicago sold this week.
Bank clearings throughout the country
increased 10 per cent over the correspond
ing week last year.
The trade reviews reported some ir-
regularity and moderation in the pace
of expansion, although no material re-
duction in volume was noticeable.
The American Railway Association, in
it's report as of November "a. showed a
net surplus of 1902 idle cars. the first
such surplus reported since October H.
The railway earnings published during the
morning were of the same encouraging
character as has been usual all the fall