The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-05-22
HILLS AND COPPERS LEAD MARKET
TO VERY STRONG CLOSING.
GOSSIP OF DAY.

NEW YORK, May 22.-Close-The
volume of business was moderately
large, and the short Saturday session,
while not especially satisfactory to the
bulls was not at all encouraging to the
bears. There wasn't much chance for
action except in a few stocks. The
powers that control the movement in
Harriman's Steel. Copper. Reading. etc,
gave no Indication of their intention III
their action today other than in hold
ing prices very firm. They moved prices
up points and fraetionally all along the
line in the first hour. permitted some
slight recessions from the high, and
then gave the market a good strong
closing. Opinion is greatly at sea OF.
the future of the market. This seems
10 be about all that can be expected
from the recover and drop, and drop
and recover play that has been going
on during the greater part of the week,
now ended.
Hills Become Leaders.
While the early trading was chiefly III
the old leaders the Hills developed
better strength in the second hour.
when they assumed the position of
leaders of the list. st. Paul also NOV
ing toward a higher range. The best
judgment on the Street is in favor of
better prices for the Hill stocks That
they viii be able 10 pay 7 per cent divi-
dends right along Is generally believed.
They are 10 points under Reading and
four points under St. Paul. both paying
the same dividend. Early in December
the Hills were within two or three
points of where they are now. Great
Northern gained rs, advancing froIa
an opening at 1864 TO HIS as compared
with a close at I46 yesterday. North
ern Pacific rose from 146 TO 14L both
these stocks continuing to keep within
a fraction of each other. Illinois Cen
tral, which is also a Z per cent payer
has kept close company with the HIS,
and this morning it rose to l47 or y net
gain. St. Paul rose a point
Old Leaders Less Active.
Union Pacific. Southern Pacific and
Reading moved more slowly after the
first hour. the other Pacifcs. Illinois
Central. Consolidated Gas. and Missouri
Pacific attracting the most attention.
The two latter made point gains with
Missouri Pacific losing one-half Of its
recovery. Grading moved up TO 1855, q
= gain.
There was no especial news. Money
Was easy. The car efficiency report
caT5 over the total reported April 3.
The box car surplus increased 1885, and
the coal and gondOla cars decrease
Of ASH.
No one locked for any specially i'm
portant movement in the stock list The
attendance both on the floor of the Elk
change AMI commission houses was
light. Southern Railway was strong
and active at SOS TO 81, gain of Is
points. Traders were inclined to follow
this lead Banking interests were ac-
credited with giving this movement inn
petus. The stock is cheap, and can be
bought with little money and il is a
favOrite.
Union Pacific started at 1Ssa2s. a.
m. sold 10 1874. and back to 1891.
Reading 1919 to 1855 TO 15l5sdl5S.
Southern Pacific 1227s TO 1898 and back
10 1891 Many Of the minor rails were
very duh and showed no Improvement.
Coppers In a Boom.
IN the industriais the steeis got fine
start, touching SOS and 10. and then
they became dun. and very firm in
their quietness. COppers were very
strong. with plenty OF bullish news.
Large sales and big prospects were re-
ported Calumet & Hecla increased its
dividend 81 a year. Amalgamated rose
from S25s to SIS; Anaconda from 49,
10 81
The general market closed very strong
and grinding on the top. The best clos
ing Of the week