The Washington times., 1909-06-14
STEEL SHARES SCORE SHARP GAINS.
REST OF MARKET EASIER.
SOME STRONG SPOTS.

NEW work. June 1A-Once again
60 -,,,r,s- ,,,-ersha dowed the rest OF
- s,oct last. and the talk is of still
,,;e-l,sr r,rires toeome some statlstlcians
bs,a been fEurins on the value OF steel
common in twenty-five years ana tileli
aaures are startling, sufficiently SO TO
make some of the rich men OF the couh-
- consider the advisabiity of leaving
- hundred shares in their strong
boxes for their estates. Certainly the
,-o,,,,,,,y stock win some day come into
en- immense distribution Of cash II the
,,olicv of making improvements from
earnings is set aside and the usual
n-aotice Of bonding betterments fol-
1oxved. The Improvement in the steel
business stIll continues without ma
ferlal iet-up-
The Illinois steel Company is reported
10 have actually declined orders Dur
ing the past week orders were booked
for, 220OO tons of rails for the ROCK
Island, u 800 tons for Northern Pacinc,
5000 tons for the 500 Line, and paft OF
3. 900 tons for the Missouri Paclilc- me
Carnegie Steel Company gets the resi-
of the Missouri Pacific order and io'''V
tons for Chicago and Northwestern H.
1900 tons for 500 and 1900 tor Fl1ts-
l,,.re and Lake Erie The Allis Chalmers
Company has increased its productive
capacity from 80 10 IS per cent
THESE are. in a way. straws, ana tney tey
give an indication OF the piOsp0ii''
has come to the trade
XgaN Street understands that an I'M
uortant rise is TO come IN SteeI .5,l+ ev
mon indeed there was an liilllol l - -
-atD today There has Deeh coHsiuSl
SiN sfocl for sale around 90. and the
theory Is that If This stock can De a.
Simulated 70 could be easiiy allelllsu. l.
Morgan interests are SAID 70 pe -
hulIish and reports indicate li1at ~ ~,
sys55ers accumulated considerable stock
on the recent profit taxing
MIDDLE West Bearish.
Tbara are indications that the West.
a. Middle West, and the East are en-
pared in q battle in the market the
former being decidedly bearish for
f5ve-point reaction and the East deter
mined to "get some OF the pianos and
automobiles" away from the Western
contingent. The quotation is from re-
,,srlr made hv the head of a leading
local BROKERAGE house familiar with the
trend toward bearishnesS IN 1illSa6V
ant contingent territory
DESPITE this bulliSh trend there rs .ee
enough left to issue warning dsdiilst
continuing the upward trend unlil atter
me assurance OF good crops Fflces
ere high but the men of Wall Street
- shown their ability to put them
higher again and again ana they e&-
- tlqS public 70 come in again al
material Improvement over current
figures
Steels Rise
steel common was the feature OF the
davis session. It opened at So, dropped
10 SIS. then turned TO 69s4, or IL points
net betterment There was less sell
ing pressure at the top than at the
bottom. The preferred, meantime. rose
TO 26lk. IA advance. with slight re-
action. $500
,orans red with the action in Steel. Here
and there a firm streak developed. as
IN the case OF Pennsylvania Which ad-
vancsd a point With partial fedcLioli'
Smelling. which RISE =; southern tSali-
way. with & net betterments Ice, with
2 rise 10 s05k from a close on SATURDAY
At SsiL; Union Pacific. with 5 gain,
with = point gains IN few equipment
RsiIs were generally a little easier
They did not sympathize with the
Sacking-up movement in steel shares, nor
did the rest OF the steel and iron stocks
other than the Colorado tuel ana iron
show any particular tone.
Union Pacific, after some lFregniafily
added q net gain St paul lost -
Southern Pacific was barely steady. The
Tflls lost ss01k. Reading started al
7gsls rose 10 1SS. and OF TO l54, recof-
ering TO 1874. Pennsy was one or tnt
strong stocks in the rails, gaining = tc
527st New York Central on whlcI
there was some bullish gossip. marked
I'D the price fraction
Entering the second hour OF the after
noon steel common turned 6934, and the
preferred to 1854. Both we're very nrn
with more than usual steadiness-
Entering the last hour OF the aIJer-
noon The market became slow, but there
we're few changes IN values. The steel.
we're the leaders. as they had been al
dav and at prices that had been current
from midday Rails were eeHeIdlly
slightly easier.