The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-01-16
BROAD. ACTIVE DAYIN STOCKS WITH
SHARP GAINS MADE IN
ENTIRE LIST.

NEW 1DRks Jan. Au.-AIleE muCl
temporizinE during the entire week the
stock market this morning developed
into q big, broad trading movement
with a strong undertone and a sharp
advance in values all around the list.
II was evident that Wall street did not
believe the stories that were sent out
during the night TO the effect that Har-
hrimau had planned q war of reprisal
on Hul for the purchase of the Colo
RADIO Southern and that as an incident
thereto he had ordered the parelIing
of the entire Colorado Southern system.
Such a war i'm aCtuality would have
played hob with any market left alone
q Its own sweet viii and the fact that
the bears tested it early and that It
failed utterly 10 so off, was almost
proof OF the fakery character Of the re
port.
Broad Market.
The activity in the market was not
confined to the Hartman shares, but
vas well distributed throughout the en-
tire list Moreover Ii was i'm evidence
IN the indus1 Iials where Steel common,
Copper ana Smelter all meade gains,
and the Improvement In these special
ties did much TO strengthen the list.
There seems to be latent strength IN
Ger st. Paul. Predictions are made Of
higher prices in the near future. No
one knows what the good things are
eNCent that another bond issue or stock
issue viii be necessary 10 complete the
system through TO the coast and this
increased cost is not bull argument
by any means.
II looks very much as III Wisconsin
Central, after years of hard times, after
many rumored sales has finally landed
I'm the lap Of the Canadian Pacific.
good mother. through the aid of the 500
Line, already a Canadian Pacific prop
eTty.
This transaction is confirmed by the
sale of the majority of the common
stock by Newman Ebb. The Street
report has g. that the buyer has prom
lScd TO put the stock on q per cent
basis. The main line of the Wisconsin
Central runs between Chicago and Min
ueapolis, making connections with the
500 at the northwestern terminal Thus
will the Canadian Pacific get a shane
OF the great tTanSC0utiuental freight
and viii take it from the Hill and Har-
rimau roads. The common stock moved
up and the preferred was very strong
on the announcement of the sale.
The strength of the market this morn
Ing, as a whole, was rather remarkable.
No Short Interest.
There was no big short interest TO
cover, for the bears have not taken any
liberties with the market for the last
few days. other than 30 scalp in and
out, making turns that were remarSa BILE
for their brevity only.
1t was really the best closing that
the market has enjoyed this year The
January boom has been delayed, per
Eaps, III viii not come. perhaps IL VIII
wait for the Improvement IN business
that is itself waiting for the passing
of the tariff bin and the endins of the
uncertainty
Since the gas decision the bull talk
has been missing, and the bears have
looked for and worked for reaction, but
with a little less enthusiasm this week
than AT any time since the crash. Per
haps another crash is hanging over the
market, for crash ii would be If the Su-
preme Court should decide adversely the
commodity clause appeal
The Gains.
Gains OF a point were made Iu AJCll-
son, Baltimore and Ohio, S.. Paul Cop
per, Rock Island. pfd., InterborOugh,
Kansas City Southern, Southern Paci-
nc, and many other minor stocks. Union
PACING rose from lGss. a net loss OF p
point, to 1905, and Wisconsin Central,
PFC, was ~ higher. Wabash, pfd-,
rose from z6I5 TO .. Reading gained
ia. Pennsylvania. Northern Pacific, and
Illinois Central, laQ5s, and Norfolk and
Western, IFS.
In the industrial list Copper was =
higher, Shelter ~, and Steel common,
s. better. Biscuit, pfd.. was points up.
The close was on the edge OF the top.