The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-08-09

NEW YORK, Aug. s.-While the mar
ket presented a little Of a wearied APP
pearance this morning, resulting from a
selling movement Immediately following
an average = point rise. there was
nothing in its action nor yet in the
news Of the day to indicate an ending
of the bull movement-the old leaders
were Just as fun Of confidence as ever.
good news was freely predicted as a
probability Of the near future and in
these predictions Reading, Baltimore
and Ohio. Atlantic Short Line, Southern
Railway. etc. all shared. probable
entrance into New York via q McA6ce
tunnel was used as the basis for pre-
dieting much higher prices on the Sc
curities mentioned. Then the trading
element looked for the winter wheat
crop report, due at 2 p. m, to be bull
argument Mr.. Hartman is coming
home in september. This viii probably
furnish an excuse for hurrah boys
and a bull market, indeed We haven I
had much else for the last twenty
months. II prices are to continue to
soar Il is but natural TO expect more
frequent reactions and more extensive
reactions So far there have been no
serious setbacks, but the profits are be
ginning TO look very attractive and with
the enlarged public interest prof1t-tak-
ing will be a feature of more than one
session.
No Short Selling.
There Is but little short selling in a
rnsrket like the one that Wall Street has
been Watching for the last few weeks.
Even the most stubborn bear doesn't
care 10 take a chance, when the chance
is such a questionable one. Short sales
for over a year have yielded only trou-
BILE and loss. 1t is still bull market
and will continue one until such time as
the distribution begins in earnest.
There may be reactions, but higher
levels are reasonably certain. Union
Pacific made another high mark on
the price scale today when u sold 70
eos but this was the only new nigh
except Louisville and Nashville's record
OF I49.
Market Grows Stronger.
AS the session advanced some OF the
recessions that followed after the open
ing were more than recovered and in
the noon hour the whole list showed
more strength and also more activity.
This squirt came through rush to
acquire Reading and Steel common.
orders IN these two stocks were very
heavy, and the strength IN the metal
shares generally. including Copper ana
Smelling, helped the rise. AT this hour.
: O'Clock. the list is rising and not Gar
from the outside prices Of the day
The West was a buyer, confident or
The coed showing coming an hour hence
from the Agricultural Department and
the Street considered ii time 20 trail
along after the leaders. but the precau-
tionary signal stop orders, are general
~ attached TO buying orders.
Reading made the best gain, rs. when
u touched 1855. Some predictions or
l75 were heard on the Street Union
Pacific rose from 104ss to 104Ss. South
ern Pacific was barely steady, not NOV
ing with its usual JUNCTION. St Paul
added q Of q point 20 It's price. The
Hills were rather firmer New York
Central a shade higher but moving
slowly. Missouri Pacific and all other
Gould shs res were slow Baltimore and
Ohio strong.
steel common sold TO q, a net gain for
the day Of = Of a point. The preferred
was a little better. Railway Springs on
=. Lead point higher Copper rose
70 SIS. and Smelling TO 1928 Higher
prices are predicted.