The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-15
STOCKS ARE STRONG AND HIGHER.
HILLS AND STEEL LEADING.
BUSINESS LIGHTER.

NEW YORK, July 15.-There was a
decidedly better feeling on Wall Street,
the credit therefor being largely due to
the report from Mr.. Harriman's physi-
clans concerning the general condition
OF the magnate's health, in positive con-
Tradiction Of rumor of an entirely diff
ierent character circulated late yester-
day. Then Pittsburg, with the smoke
pouring out of its thousand and one
chimneys, caught the bull fever and sent
out most enthusiastic reports of the con-
oltlon Of the steel and iron business, the
WhOle being so encouraging that the
Hartman and Steel shares came to the
'front.' with rush of strength and
volume Of business entirely out OF har-
mony with the unsatsta Glory market
InaI has characterized the daily SeS-
Sions Of the exchange for week past.
IN place Of tiTeSOme slOWness there
Was action, and instead of weakness,
strength Buying orders from the west
were numerous and semi professionals
had many buying orders on tap with
the opening, raising their bids as the
market rose. The return of Mr. Nor
gan little in advance of his annOunc-
ed sailing, was also a good thing for
the list Dir, Gary's remarks did not
aail 70 help things a little, although they
We're delivered Wednesday. All in all,
81 was d good bull market. President
Ripley, of the Atchson, helped matters
crops, business, and earnings He was
optimistic on every proposition. lie,
however. placed damper on the hopes
OF shareholders expecting an extra or
increased dividend before the END Of
the year. He declared the directors
had not commenced to talk about it yet.
London Strong on Americans.
Foreign advices gave back a story of
Americans leading the list and Steel
and eoaIers were in dull inactive state,
the Americans were lively.
The big break in foreign exchange is
attributed BY New York bankers to the
heavy selling Of Americans abroad
Practically everything on the list was
higher. The leaders were HarrimanS,
Steel, and Northern Pacific, but every
thing traileC slong and the shorts who
have taken their chances in this market
during the extreme dullness Of the last
few days were glad TO get out even at
the expense Of a clipping of margins
The talk Of distribution Of Great
Northern Ore lands was a help to the
price of certificates. Northern Pacific
stands on merits and crop prospects.
Illinois Central was the one prominent
stock that did not score an advance.
This is but natural as II moved up sew
eral points, while the rest OF the mar
ket was sluggish, and there was con
siderable proiit-Jaking as a result. It
In the noon hour the market sudden
" let down on business activity. Orders
were generally filed and the market re-
lapsed into the same tiresome stride
that II has maintained nearly all Of
the week. At the same time the dis
play of strength did not vanish. prices
remained very steady at about the same
figures current at the beginning of the
noon hour, Just a fraction under the top
of the session. The market appeared
TO be waiting for something. It received
little Encouragement in a report from
the conferees that there was & good
chance Of the rposatiUn tax being
Stamped approved"
There was no stock pressing to sale.
This. and the ttmidity Of the hears.
helped traders 10 hold prices steady on
a light line OF business.
Steel common rose IA. and held the
point gain to 695s. The preferred was
fuH point higher to R6gs. Copper was
rs, and Smelling 2 higher. St. Paul
e, Union Pacific g, Southern Pacific a.
and Reading Z higher. Nipper scored
the best gain OF the day. from
1908 TO 152. Rock Island Y better. Great
Northern also very firm, touching $50 or
ia higher. Missouri Pacific was y of
FIisc9. Cd, Ia higher
The list, at this afternoon, was dull
and firm.