Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-09-27
STOCKS KEEP STRONG
Railways in Line With the In
dustriaIs.
ERIE THE ONLY EXCEPTION
U. S. Steel Continues the Feature of
Dealings.
OPENS WIDE ON AN ADVANCE
ALI the Metal Stocks Display Firm
ness-Time Money Distinctly
Easier and Lower.
ERIE THE ONLY EXCEPTION
OPENS WIDE ON AN ADVANCE

Special Dispatch to The Star.
NEW YORK. September Eff a COL
lection could be made of the consdera-
tiOns suggested to the stock market
following in Wall street by today s
market during the greater part of the
session it would probably be found that
most of them resolved into the question
as to whether the market was as strong
as it looked or looked as strong as 1t
was.
Opinion had unquestionably been
made little skeptical by the price
movements and character of last week $
transactions, and also by the difficulty
experienced by most traders in making
any money either by selling stocks or
buying them. Still. on its surface, at
least, the market today seemed to fur
nish fresh indications that it was under
strong control and that there was no
pronounced aversion in important quar-
ters to advancing prices.
London, with a higher range of quota
tons for American stocks, furnished the
initiative for a strong opening. The fea-
ture Of the initial dealings was United
States Steel common, which opened wide
on 10000 shares at an advance of 70 to LIS.
This stock was on the whole the market
leader of the day, although in the later
trading 1t shared pre-eminence with Union
Pacific issues. Southern Pacific, New York
Central and Reading.
"Pennsy" a Factor Of Strength.
Barring weakness which developed early
in the Erie stocks and became more pro-
nounced around midday, the railroad list
was quite as strong as the-industrial quar-
Ter, which was a distinct change from
the characteristics Of the market last
week
Only conjecture and surmise were ad-
vanced to account for the course of the
Erie issues. the suggestions more or less
generally agreeing that the selling OF
them was attributed TO MIR. Harriman's
death. Pennsylvania was again consistent
ly f1rm, and It's behavior was undoubtedly
factor making for general strength.
Among the industrials all the metal
stocks displayed firmness especially Am
algamated Copper, while the minor steel
and iron company issues reflected the
course of United States Steel There were
sharp advances in a few of the industrial
specialties, notably National Biscuit, but
spicuous for their activity than for their
strength.
fractions Generally Firm.
The local fractions were generally firm,
doubtless because OF sentimental influence
Oh speculative eXeTteQ Dy the evil
dence of increased business furnished by
the holiday crowd. At one time in the
forenoon the market obviously hesitated,
but the progress of United States Steel
to new high records. together with the
revival of activity and access of new
rigor In the Union Pacific issues. convert
ed the dealings to the bull side of the
account. apparently somewhat at the ex-
pense of the short interest.
important news. consisting mainly Of
returns of railroad earnings. was fur
nished for Wall street consideration dur
ing the day. and this information was of
distinctly favorable import
The American Railway Association re-
ported that from September 1 to Sep
TENDER 10 the idle car surplus through
the country decreased 31,77S, or about 28
per cent. At the middle of this month 1t
showed a decrease of 50 per cent since
the middle Of August fact which indi-
Gates how rapidly the burden of railroad
traffic has been growing
Time money was distinctly easier in
tone and quotably lower. Loans were
made at per cent for ninety days and
at A per cent for over the year. The
money market. however, was quite inact-
I've. and Its ease was more apparent than
real.