The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-12-01

NEW YORK, Dec. 1--ClOce-The mar
ket acted well and held most OF It's
gain to the close.
New York Cotton closed Z points
higher than on Tuesday.
NEW YORK. Dec. 1-2 p. MAR
ket continues active and strong Inc
hin shares are showing weakness due
10 the strike. Reading is firm at l1G
Union Pacific steady at 199i3. Southern
Pacific 12S7s. Pennsylvania 13ols, Mis-
souri, Pacific 20, Northern Pacific 1922,
Smelling 97Ik. Copper SIS. Steel com
mon SIS. and steel preferred LIS. Inc
list Is active and firm.
NEW YORK. Dec. 1.-There was a
general Improvement all along 'Ae me
with the opening Of the exchange, and
mel gains of / to > points were very
generally recorded. The enlargement OF
the short line was reason enough for
the advance but there were other in
fiuences more or less effective. Rail-
road earnings are coming in with splen-
did gains in practically all quarters,
liquidation by weak holders has run its
course. unless something further OF an
1rnfavora BILE character develops and the
report of the crops of 1909 sent out by
the Secretary OF Agriculture. showing
total of $3.50 000. coo. an increase Of 1885,
O00OJO. was bound to have some effect
I'm stiffening the hackbones Of holders
of granger securities-in fact Of all the
stocks because with such crops the
prosperity OF the country cannot Je
questioned.
Then, too. there are reports that the
copper merger In gOiTg OF. with the
lines more modified and not on as pre-
tentious plan. the fear being that Il
would be subject to the Standard Oil
decision if So consummated.
Lawson was reported as inclined to
fool with Steel shares, but the chances
are that he is entirely too wise to be
caught taking chances with a securit'
so strongly held and so capably man
aged. London has private advices COM
ing via this city that an upward move
ment in Steel is slated for the near
future Mr. Lawson has probably heard
the same report and prefers TO take
chances elsewhere.
Financial interests are opposed TO any
bull movement at this time and win
probably hold money rates firm until
after the first Of the year in aid of
steady money markets and rates
II is not expected that the Bank OF
tomorrow. but will continue the pres
ent discount rate, as an additional check
20 speculative expansion. The reJec-
ton Of the budget has not been effect
I've on Americans. Mining shares gen
orally were easier. but the Coppers
were firmer. ConsOls advanced 3-l6.
Market Very Active.
The activity continued and the live
Hest kind OF trading was noted in the
a. q
late. with the exception Of Sugar. The
fact that gains were made Is not taken
by conservative operators as a sign
that the stock market has passed TO a
point where the things that threaten
and menace il have ceased TO be in
fiuential-where the Standard Oil deci-
sion has been discounted. where the
message to be sent 20 Congress on Tues
day next has been fully discOunted-but
Il has come TO a time where the long
short interest wants 20 take profits,
and where the bulls may give the bears
a little twisting for a rally or few
points. Then a setback will probably
follow, although most unfavorable
things have been discounted.
Continue Strong.
The market continued strong and near
ton quotations until well into the sec
ond hour Of the afternoon. The volume
or business was large and the undertOne
satisfactory TO those who looked for sus-
tanned prices. The Hawley stocks came
TO the front in the noon hour with a
good show Of strength. and the South
western. St Louis and San Francisco,
and the Rock Island were really leaders
in strength. The Coppers. Steels. and
Reading were firm. Union and Southern
Pacific steady. and industrials generally
] and 2 points higher II was really the
best market that the Street has had for
some time.
The strike Of switchmen in the great
transfer yards at the Twin Cities and
along the line OF the Hid roads, 500.
Northwestern Omaha and Minneapolis
divisiOn) caused some disturbances. but
had no material effect on the stocks Of
the roads involved. Northern Pacific
was the exception It's shares did not
rise with the others; indeed, at one
time II was OF 2 Of a point, but the
loss vas regained.
The Gains.
Union Pacific was ex-dividend 2Jk
per cent. and regained = Of its divi-
dend. St. Paul Us higher Reading
touched 170, or points advance; Rock
Island IA, Rock Island preferred -,
Great Northern Is. New York Central
a point Southern Pacific y. and many
rails fro m y to a point St Louis and
Southwestern gained . points.
Industrials generally showed the bet
ter advances Copper gained rs. Smelt-
ing a point. Colorado Fuel ~ Steel
common 1%, Steel preferred q. Lead ,
points, Railway Springs ~. LOcOmO-
tive J, Republic Iron and Steel 1%.
Pressed Steel Car 21k. and the whole
list was strong.
PRICES TODAY ON