New-York tribune., 1909-12-14
FINANCIAL MARKET
ROCK ISLAND STRONG.
Traders Predict Par for United
States Steel Common.

the leading issues, while in many OF the
unusually inactive securities a larger
volume Of business than ordinarily re-
ported marked the course OF trading.
Prices were up al the opening. as COM
pared with Saturdays closing, the early
Improvement being well maintained
throughout the list until the close. with
sharp advances in several shares as the
session proceeded. notably in Rock Island.
Amalgamated Copper. American SmeIt-
ing. Western Maryland. Northern Pacific
United States Steel and National Enam-
cling and Stamping. Rock Island sd-
vanced more than points. selling at its
best price OF the year and the highest
since 1903. when il touched 5s&. The
upward movement vas not accompanied
by news developments affecting the com
pany but the character of the blIving
suggested satisfaction on the part OF
Rock Island interests over the future Of
the property and the prohabili Of
dividend on the preferred in the new
year. The management OF the Rock
Island lines has made good progress in
recent years in placing the property IN =
sound physical and financial position.
and while il has IN mind the expenditure
Of further material sums OF money for
improvements and betterments il is be-
lieved that the directors will feel justified
i'm restoring the preferred stock to the
dividend column az no remote period.
though a declaration may not he made
as soon as some people are counting on.
Higher prices for copper abroad and
improved condition IN the local copper
market, with indications pointing 70
more active demand from consumers in
1910 were effective factors in inducing
operations for long account in the copper
issues. while the report that Washing
ton had approved the plans for a conner
merger also was an influence making FOR
higher prices United States Steel com
mon was in good demand and the ac-
companying strength in the preferred
created a favorable impression in the
Wall Street community. especially as II
was known that the issue had been taken
Tor actual investment account The
hoafing supply of the United States Steel
sinking fund per cert bonds is grow
ing more contracted. owing n the steady
huying by investors The Steel Corno-
ration has proved its right 10 class its
bonds and preferred stock as attractive
propositions for people who desire steady
income yield. Samuel Ciompers states
that the United States Steel Corporstio
is the greatest enemy organized labor
has. nevertheless. the wages paid by the
concern enables it's men TO save enough
20 buy Uniteo States Steel securities.
Upward OF thirty thousand employees OF
the Steel Corporation are stockholders.
and IN the preferred stock their invest
meni represents total of more than
$4,000. 0oo. which could he liauidsted to-
Gay AZ . profit of more than $4,000. 600.
Wall Street believes that Steel COM
mon viii sell al par before Christmas
because substantial interests have tai ken
bullish position on the stock Sub
stantial financial interests. backed BY the
corporations growing earnings. have
been able in recent months TO advance
the price OF the issue from so 10 95 and
there is no reason why any one should
doubt their ability 10 carry the issue
across par on the basis Of another in
crease IN the dividend in 1909. The
Northwestern railroad stocks are strong
features. also the shares Of the South
ern roads. especially Atlantic Coast Line
and Louisville & Nashville The close
was firm and active. Call money ruled
al - per cent and was in good supply
al that figure Time money was mac
tive and unchanged, while sterling rates
gave no indication Of declining materi-
ally al present from the ruling abnormal
level Foreign open market discount
rates were firmer. and the Imperial Bank
OF Germany al its weekly meeting main
tained the per cent rate that has pre-
vailed for several months.