The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-31
Wall Street Very Optimistic on Markets Future
LIVELY DAY IN NEW YORK STOCKS,
HILLS AND INDUSTRIALS
TAKING THE LEAD.

NEW YORK, July 31.-CIose-There
was no mistaking the character Of the
Saturday short session. The market was
broad. widening with every moment,
strong, although showing a little
weakness shortly after the opening,
closed very firm, with every promise of
the bud market continuing. barring un-
favorable developments that are always
possible. The buying was general, COM
mission houses having many orders,
while the selling did not appear to be
concentrated. 1t looked as if some Of
the holders of Union Pacific, St Paul
and Southern Pacific were content to
take profits on the high levels at which
stock is now selling and were reinvest-
ing their cash in securities selling at
lower levels. Interest largely Centered in
the Hills Baltimore and Ohio AtchisOn
and Canadian Pacific. while many of the
industrials showed renewed signs of an
upward movement Money continued
easy. The fiotations in July were the
lightest on record, the West is financ-
ing the crop movement and the South
win care for a larger share of the cot
ton movement than ever before. BuSl-
ness channels must soon demand the
question of how much remains to be
answered. The chances are that there
will be ample money at low rates for
weeks 10 come
The time for the adjournment Of Con-
gress draws near. The actual adjourn
ment viii be welcomed by the business
interests OF the country, desiTous or
peace and a SurceaSe of legislation or
any character A long period OF ad-
journment would be welcomed, but
Mill he n1f inter-
val Disturbing discussions OF this sub
ject at the next regular session Of Con-
gress are dreaded even more.
Industuals Act Well
Clearly the feature of the two hours
trading was the continued upturn and
revival of interest in the industrials.
President Corey's remarks gave the pub
lie a better idea of the industrial pros
perity Of the company The Steel Cor
poratIon's June earnings was "A revela-
tion OF the actual betterment in all lines,
and when II was followed by encOurag-
ing reports from all sections, the Street
took more stock in the promise Of bet
ter times. The gains In the inoustrials
today were represented by S net gain
in steel common, : IN American Loco
motive, = In Copper, IL In National
Lead. = IN Railway Springs. = in Con-
solidated Gas. 81 in Western Union, and
vances were important and the volume
of business in these STOCKS was large.
There were other and less important
gains.
Reading I6I.
In the rails Reading continued its
pyrotechnics. soaring to Isl. OF IL
points rise of Fridays closing. The
bull pool is still accommodating. not dis
tTibuting. Baltimore and Ohio added a
point. Atchison is being accumulated
and many are the pointers that are cir
culated as 10 its prospects. 1t rose a
point. Great Northern ard Northern
Pacific were both q higher. New YORK
Central was q little better, but there
was doubt cast upon the proposed
amaigamation plan.
Union Pacific touched 215k highest
recorded, then eased off a bit.
The close of the market was strong,
buoyant and near the top, though there
was some profit selling in the last half
hour.