The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-01-07
BULL DAY IN THE STOCK MARKET,
WITH SHORTS COVERING.
SOME BIG GAINS.

.
Eirh a reaction soon after the openins
and then another upturn with advance.
md a comparatively fTmer tone as tlt
sessiou advanced
Some operators are beginning to ex
wcisc much caution, because OF the facr
That the Gas decision was potent To ell
sct the whole stock market ass severely
Is il did The break but showed tuJ
dependency OF the list OBJ each other
put 1t must have opened the eyes OF
many conservative investors TO the
manipulated market
CHques Plans Iuterferred With.
The Gas decision is also said to have
nterfered with the plans of the bull
clique i'm continuing the advance to 20l
.0r Union Pacific. 100 for Great North
iru, and relatively high prices for all
he prominent securities. This was the
tossip sent out by one financial agCn-
81. The story was also 60 the effect
llat the upward movement would have
illuminated this week, but being side
, racked by the Gas break. would now
BE resumed and professionally be full
q realized within q week OF ten days
Maybe. and then again, maybe not.
There seems TO be a general trend to-
Eard quick turns, au evening up
Process frequently, Indicating @ lack OF
confidence in the continued imitation
movement.
The bad break i'm New York Central
On the election of Vice President Brown
- the presidency of Union Pacific was
accountable LOT only by disappointment
if those who expected Hartman To be
IecIed a member of the. board OF dl-
HecroTs anu of LOTee as president. The
5roWu and Hartman are I'M accord
iespite the -yideut fact chat Wander
alt interests predominant
Shelters Change of Front
SmeIter made a place for itself yesJer-
lay by its strength with weakness
lround it, and did better again today.
Boston reports that the company during
he last ak months has earned nearly
S per cent on its common stock and
Inc declaration is made that an increase
rom 3 TO g per cent i'm the dividend
ate viii be made I'm April The stock
lcted well again, rising to S5ls and hold
uE well. This unexpected strength may
Indicate an increase I'm the dividend
ate, but hardly to such an extent.
Great Western Slumps.
Great Western rather shocked its
compared with a close at 1Ula yester-
Gay. IL stated that an assessment of
no snare viii Doe made against the
stock iu the reorganization plan, which
EiII Dee made public I'm a few days. and
his was quesuonabIy responsible for
.he break
The Rock Island issues were watched
closely. The street IS full of TumOrs
u something coming OUT, the general
#HH".
given 10 holders oL common st0ck-fuil
voting power
In some stocks the bun movement
reached proportions worthy of special
comment. Colorado Southern rose TO s.
rom close yesterday at 5shs on its
probable future as a Burlington prop
7rty- Chicago q Alton was up points
10 20, and SauIt Ste. Marie rose 20 ~
rom q lst close Wednesday. A-7 lN-
s II. was point up
Millions Coming Back.
one OF the influences favorable 10
,ae bull side Of the market is the re-
uru flow of many millions to New
York banks not SO much 10 the stock
market as to The banks for safe keep
ug. Rates 0u call, ~ per cent.
The immediate opening OLA the active
UCCks was decidedly frmer- Thus
-uiou Pacific, which had closed at It>s-,
Mas given It's initial sale at Its-a went
Fff q. and then rose To ls1ie, whence 10
iaspd or TO I.0. ST. Paul started Us
higher, but reacted Is ana then re
lowered slightly Pennsylvania gained
tEer a point and lost p point OF IT,
Reading held q point advance. Con-
3Clidated Gas started AT 10 sold 20 1864
.hercC 90 l2slz, and off e.. Chicago
Ias gained point Missouri Pacific
ield q small advance. and Chicago and
Northwestern was or point Little
steel acted well. a - gam was easily
accomplished.