The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-04-03
Wall Street Ends the Week Very Cheerful the Future Eauav
BULLS RESUME CONTROL OF MARKET
Il AND GIVE BEARS BEATING.
SHARP GAINS MADE.

NEW YORK. April S.-Close.-At the
immediate opening there was an effort
on the part OF the bears to press for
an additional advantage and they made
some progress, perhaps an average Of
y point. But before the end Of the first
hour, indeed very soon after, the open
ing the list had changed front and had
also recovered the loss. This was
brought about by both new buying or
oers and covering OF shorts who were
satisfied with their profits in following
the liquidation Of Friday. On this buy
ing, the market added an average of u
Of q point gain over the closing figures
of yesterday. There were some stocks
that were noticeable for their strength
and the Hills we're to the fore in this
Respect. The optimism of J. ]. Hill
&nd an aggregate increase of S9SOOO
tn the earnings of both Great Northern
and Northern Pacific for the first three
weeks of March furnished all the reason
necessary for the strength DISPLAYED
especially the big earnings Moreover
these stocks have not been TO the fore
of late with anything like the show OF
strength that the Harrimans have dis
played and it seemed as If nothing
but a bit OF good news on earnings
was necessary to start them TO higher
levels.
Favorable News.
Most OF the news of the morning was
Of a favorable character. London was
Strong Harriman's interview encourag-
ing from every standpoint. Railroad
earnings generally showing satisfactory
increases, and yesterdays reaction con-
sidered satisfactory as showing the tone
of an unsupported market in the face
OF much liquidation Moreover, it es-
taOliShed a new short interest for. the
bears, who have not been doing any
thing for over a week but covering, fol-
lowed the lead of the profit-takers and
put out a good line of shorts
The February income of the Burling-
ton was 49,, $50 in excess of the same
month IN 1905. Panhandle system gained
$4.961. The gross earnings of the Sea-
board Air Line for the same month,
February, showed $40 per cent net in
crease. Southern railroads generally
show very satisfactory increases. Illi-
nois Central gained Sl723SS over Feb
ruary. 1908. This was the story OF roads
reporting East and South and OF some
Southwestern roads
) Expect Decision Monday.
sThe United States Supreme Court
meets on Monday. 1t is thought that
the iong-ielayed commodity clause de-
ciston viii surely be handed down on
Monday. While il may have some IN
pleasant effect, If the decision is adverse
10 the claims Of The coal roads still
there IS no opportunity Of repetition OF
the Consolidated Gas burst, as the com
panieS that would be affected are all in
a position 10 shift their burdens. and
thor wiz be no depreciation of the
value OF the property, while a favorable
decision would cause a sharp uD-turn
ard help the entire list
The shorts in steel common we're
forced to watch this stock rise TO 50Ss
from low point or 4S7s for the day.
5lSss.
Copper made net gain OF q. and
smelling was strong and rs better than
enother y point gain. and Locomotive
bose 2 points on many new orders
lead moved up a point.
Rails the Leaders.
The rails were the leaders throughout
the entire session-Southern Pacific, the
Hills, Union Pacific, Reading, Denver,
and New York fractions.
Northern Pacific started at 144JL and
rose to 1854 Great Northern opened at
af6 and dropped 10 1855. practically last
nights closing Then IL rose to 1861
and beld most OF the gain. Southern
Pacific made a net u gain; St Paul a
like fraction, and Union Pacific from
7s51s to 1864, a net gain of IL points.
In the last few minutes of the session
the market was flooded with buying
orders and heavy gains were made here
lail too evident to the bears that the
smarket had been taken from them by
force of arms and they joined the rush
10 purchase. the ticker working so fast
that lots were not recorded.
While there were some recessions from
the top they were of but small fractions,
and the closing was active, strong and
grinding on the top.