The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-05-10


active. with some sCalpers taking prof
fts on the declines. Western orders
continued liberal The market while
lower did not show very positive weak
ness.
NEW YORK. May 10.-1 D. NIT was
a rather erratic market, less active than
on Saturday, but still with moderate
trading. with its weak and strong points,
the latter probably more numerous than
the former That there was real liqui-
dation of stocks by local interests was
evident. but so, too, there seemed 10
he sufficient demand to absorb the offer
ings without permitting much recession
in anything.
Commission houses reported that they
had received many buying orders from
the West over Sunday, and it was this
class of buying more than any other
that gave the market its ability 10
absorb liquidation. Houses with West
ern connections were particularly raw
ored, but all parts Of the country seem
ed to like the looks of the market, and
orders in the rails and industrials were
numerous.
The rails were favorites today, the
industrials going back to second place,
although Steel and Smelling acted
reasonably well.
Prosperity Reports.
The news of the day showed no par
tIcular change; industrial prosperity
was further indicated by the announce
Inent that the Kelley Colliery. near
Shenandoah, Pa, had resumed with g
per cent increased production: that the
Lessig Iron Company had made con-
tracts for large volume of work at high
er prices. and had increased the pay OF
puddlers from s. TO 1915 per ton, while
the Pennsylvania announced that ii
would spend 100000 in double-tracking
ninety miles of its system to Logans-
port, Ind. The traffic out of Plttsburs
is double that of year ago. All de-
partments OF the American Bridge Com
Dany have been put on full time, and
the same is true of other Industrial
corporations. The foreign situation is
satisfactory, but for the fear of capital
over socialistic developments in England
and over labor troubles In France.
Millions of English money is coming to
the United States for investment, and
il is admitted that Sle0.00,OC0 Of capital
has been sent out of France because OF
the labor condition.
Bull accounts are said TO be getting
rather unwieldy. and the street would
not be disposed to resent modest con-
Cessions in values, believing that a re-
action would greatly Increase the buy
ing power Of the market
The strong SPOTS in the list were
st. Paul. AtchisOn, Reading, Missouri
Pacific. and Baltimore and Ohio in the
rails, in the order named and Smelling
in the industrials.
ST. Paul has been much mentioned in
late gossip as bound to sell higher, and
the frequent tipping Of it has induced
orders. Moreover II has not moved with
anything like the advance the rest OF
the high grade rails have shown. 1t
opened at 15l24, rose to 1891, and eased
of to 1875. as compared with close on
Saturday OF 1919. Atchison added a full
point. Reading was active at 151h 20
1o2L a Is gain. Bait more and Ohio,
Missouri Pacific and he Hills were
steady. holding their own reasonably
well Union Pacific gradually dropped
TO 1875, and recovered to 1855, a loss of
q. Southern Pacific steady. Many minor
rails moved in reactions Of Y point. Erie
issues were firmer.
In the industrials, Steel common was
fractionally lower. The preferred was
slightly lower. Copper lost z. Tonnes
see Coal q. and the general list u to y
point