The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-10-01
STOCKS SHOW FIRM
LATE IN SESSION
Weak Early, Steel and Indus
trials Blaze the Way for
Sharp Gain.

NEW YORK. Oct Little steel
crossed another new high. stopping at
sls,. Smelling turned 10l. The whole
list is Just about as firm as it could be
and not far from the outside prices Of
the session.
NEW YORK, oct. The trend Of
money rates 20 higher figures and the
belief that the bank statement tomorrow
win be decidedly unfavorable. in re-
auctions in suprlus without reduction in
loans gave a check to the advancing
tendency in stocks. And yet there We're
no indications that the bulls would let
the market get very far away from
them. The Street continues TO receive
-~he strongest kinds Of tips on the Har-
riman stocks. on the Steels, Atchison,
Hin shares. Pennsy. and Reading. TIE
disposition TO take profits. SO much in
evidence the last few days, seems 20
have encouraged ehe bears, and they
were more I'm evidence in the earlier
dealings today than for some time The
result was an average loss OF Ss9lz
point, except on a few specialties. At
Gibson. Canadian Pacific. Big 4" few
other stocks showing recoveries OF more
or less Importance.
The market has been without short
interest or any proportions for the last
two weeks. A good line of shorts would
help materially in rallying movement
The Street has a report that Anal
gamated Copper is heavily Oversold and
that there has been much private Dor
rowing Of the stock, indicating bear
trap
.taut announcements of railway absorb
hiou outside OF the Hawley lines, while
the power OF e II. Hawley is evidently
on the rise. His stocks were prominent
in the operations today. At the same
time the Goulds were on the wane, Wa
bash setting the pace.
The Steels were fairly steady, giving
way slightly with good undertone
The undertone Of the leaders Is satls-
factory Money may check the uptuTn'
but the trend is still favorable
Sharp Upturn.
During the noon hour the market took
on an entirely different appearance
The shorts IN Copper. Smelling and
, Steel made an effort 10 cover and ran
the market up on themselves with the
greatest ease. even though they had
no intent or doing it. At the same
time they again gave Steel common a
new high. moved Smelling above par
with but little trouble and the strength
in the industriais generally gave the
whole list q strong turn, advancing
many stocks that were laggards IN the
earlier dealings.
Industrials Lead.
But the Industrials were the leaders
Steel common reaching It's new high
peg al FPS and refusing to bulge be
low n stubbornly. Indeed It is doubt
ful II IL will he possible for the bears
10 again break II below 20. The pre-
ferred stock rose a point 90 1905 While
the big combination shares were on the
I. rise. Ioss-Sheffield came firmly with
an advance to %, or points net Lead
gained "a Republic Steel was strong,
Smelling moved up 10 1908 from S93s-
and Copper to S4iz from So. The shorts
tried 10 cover. and actually bid prices
I'D on themselves.
While these gafuS were being MADE
Canadian Pacific rose ? points. l)eiaWaTe
and Hudson IL Reading from lS TO lf
with a slight setback. AtchiSon point
M Big -Four "A fraction. and many frac'
fionsl brftermeHts were made through
out the list. Delaware and Hudson rose
~ points. New York Central became
firm, and the Gouids showed better
PacIac Telephone and Telegraph rsteJ
TO-DAY. sold AZ IS. and then jumped -
The market while firner became brOaf
snd decidedly active