The Washington times., 1909-03-29

snort SelilnS
NEW YORK, March 81 p. m.-The
strength and activity that developed
on Saturday was again in evidence in
the stock market, with sharp rises here
and there throughout the list and with
2 neglect of minor stocks that clearly
showed that the fight for higher prices
was to be made on high-grade shares
IN both the rails and the industrials.
The sensational movement on Satur-
day had the effect of crowding com
. .nfssion houses and bringing ali the old
room traders INTO their accustomed
places.
The action suited them and they were
specuIatsveIy inclined from the tap of
the bell. Official announcement Of the
peaceful ending of foreign complica-
tons, stories Of factories here and there
throughout the country turning on
steam and employing more hands on
longer time and an evident bull move
ment from financial centers, gave the
market a strong, broad opening. Then
the higher prices brought the doubling
ones in TO gather in their paper profits
made over Saturday ana the wave of
profit-taklng gave the list a temporary
setback.
Starts Up Again.
But il wasn't long before the market
got its second wind, and then the up
ward movement continued with sharp
recOveries all through the list with few
exceptions. The Goulds' were not in
sympathy with the upward trend. doing
fairly well to hold steady. under the ne
Elect. The gossip on Chesapeake and
Ohio was of an unfavorable tenor. New
York houses urging their customers to
take profits and get out of it. The Eries
shared in the Improvement and fer
once the Hills came good and strong.
holding their old familiar place among
the leaders. J. j. Hill is reported as pre-
dieting good crops. plenty Of business
for his roads and a lively general bust
ness in the Northwest.
May Restore Ore Duty
The show of strength i'm the Steel
shares was remarkable after the ad-
vance of Saturday and the talk of poor
business. a probable reason for a rise
is found in the report that the duty on
ores will be replaced in the Payne bill,
and that the old duty on pig iron will
also be reinstated. From a number of
points reports indicate that the cuts in
prices have been successful in getting
much business.
The average gains Of the day were
nearly point while in many cases ,
points Improvement were recorded. 1t
noint OF trad
ing, the ticker being constantly far be-
hind the sales Much of the trading was
speculative, but II was evident that
some or the buying was for big inter-
ests. and the stock likely to be locked
away.
Some Good Gains.
Some new high records were made on
the gains OF the morning. Southern
Pacific turned new high when II
crossed 122Iz. Union Pacific is not far
from nigh on the top of the rise al
1SfH. St Paul moved up a point Ia
1F112. Toledo, Peoria and Western add
Pennsylvania and Reading were a good
point higher Great Northern "a up. and
Illinois Central about the same New
York Central was very strong. Opening
Al 10 il rose TO 1903. The Fries were
- of a point better; Brooklyn Rapid
Transit, Baltimore and Ohio. and Col
orado Southern point higher
Steel Point Higher.
In the industrials Steel common rose
a point, or to as. and the preferred
from a close at 111% on Saturday tc
1121z- Tennessee Copper Y up, Anal
gamated g, Smelling from IS TO SS74
and Beet Sugar IL points. Consolidated
Gas rose pa points. National Lead
very strong and in excellent demand
rising to S3. as compared with 80 or
Saturday Later IL eased off q West
iDghouse s394 TO S3@s.
The market was firm and active
throughout the morning, and the first
hour of the afternoon, and gave prom
ise Of continuing very lively through
cut the entire session.