The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-04-14

A-A4-
NEW YORK. April AL p. mater
a moor start the market rallied shortly
after the opening. and gains OF modest
rronortions we're scored here and there
throughout the list, but with the best
show of strength in the high-grade
shares to the neglect OF the second
grades. Exception must be made for
Denver and Rio Grande, which was de-
cidedly active, but with rather more evil
dent of profit taking here than else
where throughout the list.
The market bulls less easily, and this
is nothing but natural. the more so as
some commission houses have been
counseling their customers against any
further following of an advancing mar
ket. But for all this IL does not look
as If the upward movement had Gull
minated. The ease of the money mar
ket IS still the most potent argument
for higher prices, this and the fact that
the insiders, the Hartman folloWlng'
have not let g, Of their noldlnss. Inc ne
market Just as they have Ialth III the
future of the country.
Tonic Needed.
Unquestionably the market needs a
tonic 70 assist in its Upward movement,
and the best tonic at this time would
he improving crop reports Business is
improving and is bound to improve when
the unsettling tariff is out of the way.
The strength in Missouri Pacific and
Denver shares is said TO be on the
theory that Jacob Schin had succeeded
in arranging for the sale of a block OF
Missouri Pacific bonds. These stocks
held well. Missouri Pacific rising IL and
holding a of a point net gain. Denver
rose a point. but the profit-taking sent
II back again. Baltimore and Ohio'
Chesapeake and Ohio. Brooklyn Rapid
Transit, Atchison, Rock Island. and
many stocks held steadily with shsht
betterment or firm prices Goulo stochs
seem TO be finding little more laNV w
as evidenced by the continued Strenbta
iu wabash and the rise OF nearly :
points in Western Union Ielegraph
shares. , MI,
Reading is acting very well There
does not appear TO be the same ner-
vousness that there was some time 9go
over a possible adverse COMMODITY ue-
cision. The stock held strong IN the
point this morning or from close az
iSs TO 13gJs with a reaction to 1855 ana
recovery TO 1881
Breaks In Noon Hour.
The market moved along nicely until
near midday, when signs Of a slump
appeared, and throughout the noon
hour the proht-taking was plainly IN
evidence to such an extent that most
OF the gains melted away, and South
ern Pacific lost Is net, while most OF
the list was close TO the final figures
OF yesterday
Union Pacific, the leader in the earlier
rise from 1875 TO 1854. went back 10
1871. and then added Y point net gain
TO its price. St Paul was weak. North
ern Pacific lost 3. Reading held frac-
tional gain, and the list was close 10
inside figures and very dull when the
! O'Clock bell tapped.
In the industrials. Steel common, the
leader started well under good De
mand from London. Il rose from 3lA
10 52Is back to 51i4 TO 5llz- The pre-
ferred was dull all session at 114i4d1l49s.
Copper was Y higher. turned to 4
lower Shelter Z higher 10 steady
United States Realty was the firmest
stock on the list, the excellent showing
OF the company, a surplus for the year
over charges of over S2oVo,V0os ad-
vanced the stock points
Entering the second hour Of the az
ternoon the market was slow and a
little uncertain. but lacking indications
% anything approaching a slump.