The Washington times., 1909-10-14
STEEL COMMON MAKES GOOD GAINS.
RAILS GENERALLY FIRM.
HAWLEY A Conner.


and his friends doomed up rather large
on the financial and railroad horizon
this morning-to the partial eclipse OF
George Gould in that the former have
obtained control OF the Missouri, kan
sas. and Texas. one of the great South
western roads, the stock OF which has
plainly Indicated n movement OF some
important character for several days.
With the Hawley party must now be
associated the Moores, Reid and other
Rock Island magnates, building up
decidedly strong community group in
the Southwestern section. HaWley is
also a factor in Interurban, Colorado
Fuel, and other properties. The an
noUncement of katy" was followed
by a better tone in all the Southwest
eTn stocks. HawIey, Speyer, and Yoak-
UNI viii go On the new directory OF
Katy in the near future.
1t was also generally believed on the
Street that the Vanderblts had once
more assumed fun control over New
York Central and allied lines and that
all efforts made by the late Z. H. Harri-
man to acquire control were fruitless.
There WAS a hint of a coming stock is
sue with rights for present sharehold-
ers.
One important development Of the day
the Bank OF England, an event fore
Swallowed in the action Of continental
banks and the gathering strength in
money rates the world over.
Stocks opened frmer. The liquidation
seems 10 have about run its course, and,
finding the pressure reduced, the shorts
are less persistent in their attacks, and
are also covering a little more freely
Their covering is especially noticeable
IN Steel common, which made good
gam, and as this stock was one or the
first to pave the way for the slump, its
recovery was looked upon as a gOOd
sign.
The market is admittedly still nerv-
Gus. The extent OF the reaction and the
Indifference of the insiders. pools, mag
mates, or big men In the Street, to the
slump with the theory that they accel-
Grated the movement by selling stocks,
has made traders nervous about again
entering as buyers
AS a result, the rise in the rails was
limited, with the exception OF the ad-
vance In Union Pacific, Some OF the
minor stocks showed a little better tone,
both rails and industrials. but despite
the improved sentiment nervousness
and indispOsitiOn to do anything either
way We're shown on the floor and ia
commission houses. The West led the
bear movement two weeks ago, and Is
reported coming in with buying orders
this morning. Atchison and the Hawley
shares being favOrites.
Market Becomes Slow.
AS the day advanced the market be-
came slow with some recessiOns from
the high point. The retention OF the
Vanderbilt interests did not have any
good effect on New York Central nor
did the theory OF rights help it. The
stock lost nearly a point. Union Pa
ciic, after reaching 20394. eased OF TO
203iz, still holding over a point net i'm
prOVement Southern Pacific and St.
Paul were barely steady. At the high
point Missouri, Kansas and Texas
reached 46lk eD4Gss gain. but reacted to
1855 within Is Of the finals of Wednes-
day Reading was slightly irregular,
with a gain of IS. Southern Pacific and
St. Paul showed little change. Iowa
Central. Kansas City Southern, St Louis
and san Francisco were all a point TO
little better higher Thank Hawley
for IL.
Slcss-Sheffeld = better: Republic Iron
and Steel bit better, Smelling firm and
not much changed; Copper was strong
at slight betterment
NEW YORK, Oct. IA 2. m.-Stocks
are strong, especially Steel common,
which turned S., as compared with a
close at SIS yesterday. Union Pacific
IS now 203A. These are the strong
points IN the list with the Southwestern
stocks.
The list is quiet, but steady, with in