The Washington times., 1909-12-16


price changes were few and unimport-
ant. Sentiment was rather favorable,
but there was neither selling pre- ssure
nor much demand.
NEW YORK, Dec. 16-There was
some little irregularity in the opening
hour and thereafter the market gradual
" became quiet, but on the whole the
tone was satisfactory and the indicas
tons, Judged from the borrowing de-
mand for securities, Indicated an increas-
ing rather than diminishing short in
tercst. This was confirmed by a num-
Der Of large houses who were called
upon for loans and who declared that
the demand was sufficiently urgent 70
have absorbed much more stock than
they had TO loan There was a revival
CT the Union Pacific segregation story
end TIC Street was not without its usual
crop Of rumors. Sentiment was unuues-
tionably helped by the fact that the
conservative directors Of the Reading
system had at last decided to reward
their patient shareholders with an in
creased dividend declaration ConsoH-
dated Gas was the strongest feature of
1he industrial list, If not of the whole
market, and the display OF tone here
gave cause for the report that an in
stockholders in the big gas corporation.
Both companies draw their revenue
from practically the same want, anthray-
cite coal and gas being the main sources
OF fuel IN this city-of course Readings
offerings go all over the United States.
Traders Cautious.
While the market acted well traders
were cautious. Wen posted firms held
that there win be no runaway market
on bulges shoul9 not be ignored. as
frequent opportunities viii present
themselves for buying back on slight
70 modest recessions. This has been
= feature Of the market for weeks. II
goes up and It goes back, and the trad
ers make their little profits back and
forth-it Is and has been a traders
market-thats all. Probably that's all
II viii be until after the New Year when
the way may be clear for the big in
ferests to stand under them long enough
TO make a fairly good gain possible.
The threats of labor on the Steel Cor
poration are not worrying the mag
mates very much. They count on the
corporation and on which they have
made big profits to act as a check
against any agitation started by labor
unions. The shares were strong and
we'll held. Foreigners took about 10. GOO
shares Of Steel and Smelling yesterday
and they were buying again today.
News of Day.
Increasing strength in foreign ex-
change has caused some fear that gold
may vet be exported. although II is
hoped that this may be avoided The
Bank Of England rate Of discount was
unchanged.
1t Is expected that the Pan Handle
dividend viii be raised TO a per cent
basis next week. from the current rate
of per cent
Hill shares were rather weak. but
Inere was a reason for this found in
the announcement that the Hartman
system will put its first trains into Sc
attic on January /. Through service will
- established from Chicago via the
northwestern and Union Pacific over
lhe SHASTA route to Portland, thence via
we oregon and Washington to Seattle.
This kind of competition is liable TO
hurt, some.
Generally Firm.
The net changes on the Hill SHARES
were y TO = OF a point Reading was
both higher, lower and steady. furnish
ing its usual ups and downs. tt opened
at l109.. sold TO 171h, eased TO 1872. and
came back to yesterdays closing 17oss
Union Pacific. under apparent nanfn,I-
lauon, rose to 2037s, and went bacl, 10
2o35s, net gain OF =. Southern Pacific
was -teady. Pennsy lvania and Central
were firm Most Of the Southern and
southwestern stocks showed few
changes worthy Of notice. Canadian
PACING rose y. Delaware and Hudson
and the general list moved within frac-
IlonaI changes. Copper was weak.
smelling firm, Steel and metal stocks
other than as mentioned reasonably
firm.
B. and o. Earnings.
The Baltimore and Ohio Railroad
Companys statement Of earnings and
expenses exclusive OF outside opera
tions), for the month Of November. 1909. /
as compared with November, 1908, shows
gross earnings, 1903. S7,35l 675; 1908. Sc 8O6.-
~; increase, &l,045,253. Expenses. 1893. I
Sl,sJl,5s5; 1905, $b2l8,576; increase. $3.50 OO7.
Net earnings, 1909. S2A4.090; 1905, $2,0S7,-
81. inCrease 1886 246.
For the I'VE months OF the fiscal year
as compared with the corresponding per
Tod Of 1900, the statement shows gross
earnings, 1903. so, gg3 S33: 1908 80. 941 375:
increase, %,232. fjS. Expenses. 1909. S24-
22 30; 1908, $20.763. SD. increase. So 46S.- /
~. Net earnings 1903, $4,000. $50: 1903, |