The Washington times., 1909-04-12

NEW YORK, April 12-2 p. Mine
market was very strong. but rther dull.
passing into the last hour OF the ses-
sion. Union Pacific was lZ9ss. Reading
1885. Little Steel 52ie and the preferred
115. The Senate restored = per cent
duty TO iron ore in its bill. The whole
market was near the top OF the days
prices.
NEW YORK, April 12-It was evil
dent shortly after the opening that pro-
nj taking was going on throughout the
list quite freely and that the market
was taking il very well. Then there
came a half-hour OF slcwness and just
before noon the market took another
start toward higher prices. 1t was evil
dent to any close observer that the big
BINS were waiting TO hear from Wash
ington. waiting to get the views OF the
Supreme Court on the commodity
clause and il was evident that q IA
vorable decision would start the market
going UP with a whirl that IL would
bring some of the public buyers In to
take the stocks of the hands OF the
people who have been carrying them
so long while an adverse decision might
be expected TO bring a decline unless
the holders Of securities should rally to
their support, and bring off the unex-
pected. as they are accustomed to do.
But the court again passed the ques-
ton over for another week st least, and
Reading at once rose x OF a point,
making a net gain OF Ia points.
With the immediate opening the whole
list started well and gains OF \ to a
point were quite general throughout
the list.
Opening Strong.
The Fries we're given 4 turn for the
better. being supported by the Morgan
interests while Atlantic Coast Line and
Louisville and Nashville surprised even
their friends by the big gains they made
II is evident that something favorable
Is coming out one OF these days on these
two stocks Atlantic Coast Line has
done some sensational climbing before.
end SIP has Louisville and Nashville,
but the jump from 123lz to 12715 in short
order was going some and no mistake.
Louisville and Nashville did not make
quite as strenuous a leap, but IL rose
Installer from 1872 to 1895. Atlantic
the slightest trouble. but Louisville and
Nashville dropped back to 1215z- Wis
Consin Central IS another stock that
keeps on Skyrocketing its gain today
being ~ points.
Here ard there throughout the list
there were symptoms of a little lower
range, but il did not reach the stage of
weakness for just about noon rush
of buying orders checked any DISPOSE
ton in the easier direction and turned
the list upward. St. Paul seemed to
have more difficulty holding its own
than any OF the leaders. being at one
time z lower and lacking u Of a recov-
cry on the strong spots.
Steel Common a So.
One of the strong points of the stock
market was the display of strength in
the common stock of the United States
Steel Corporation. Trade is reported to
be at the threshold Of unusual activity.
The Isthn1ian Canal Commission will
soon be In the market with a 5000, 900
order, the Grand Trunk has ordered
TWENTY-FIVE locomotives and 1900 tons
of rails. the Missouri. Kansas ana
Texas is in the market for $50 freight
cars. but there is, as yet, only the
promise OF a 10000 car order from the
Baltimore and Ohio Many roads are
asking bids on rails. and structural
the industrials were strong. and the
Steel stocks moved up sharply, the
common selling to 52es from closing
last Thursday at 5lis- Sloss-Sheffield
rose IA points, Copper y, and Smeit-
Another pointer in favor OF the Steel
stocks was the general belief that the
tariS bill from the senate would give
thu IRON and steel schedules protection
IN a higher degree than I'm the Payne
bill.
Holds It's Strength.
The market held its strength well,
though for a time in. the last half OF
the noon hour there were few advances
IN addition 10 those made earlier in the
session. The Fries. held point better
ment on common. Y on preferred and Z
on second preferred. Mop was 4 better.
Northwestern y up. Union Pacific
opened at 1881 and finally rose to 1S911
Southern Pacific was "A higher Copper
ans Shelter strong. New York Central
131 to 1903 TO i3ih. Great Northern
slightly better. Northern Pacific sold
ex-dividend and regained but frac-
tion thereof United States Realty rose
TO IS as compared with S4S< the closing
Of the last session.