The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-03-19

market continued active unul lnt h'lN
die of the first hour of the afternoon
then il became extremely dull, but the
price changes were few and unimportant
save foran additional y point advance In
Cbesaoeal<e and Ohio. The undertone
of the market was encouraging and the
prospects were favorable for dull,
steady closing.
NEW YORK, March 19-A1 D m.-For
the first hour there was not much &C
tivity nor yet tone to the stock list.
The volume Of trading was light. and
the trend of prices seemed. to be to-
ward lower range. After a false
start OF two, the market rounded out
about the miCile Of the second hour
OF the day with lively trading and a
strong tone. 1t came Unexpectedly. The
Ecker had been working half-heartedly,
stocks moving down a little and up a
little, but without influence OF posi-
tive character and nothing to indicate.
A good display of strength in Northern
Pacific was the signal for the getaway,
and then the whole list, lead by the
Hills with Union Pacific, Readins, st.
Paul in the rails, and Copper and
Smelling in the industrials. started on
the upward movement for good ad-
vances and with liberal trading.
Influences were not especially favor
able Gold to the extent of perhaps
Si,O00,000 will go out by tomorrow S
steamers. Railroad earnings invariably
show decreases in gross, and net is
saved by pruning operating expenses.
And yet there is some encouragement
in the statement that twenty-five rail
roads reporting for the first week OF
the present month indicate good gain
over the corresponding week in 1908
The gross for the period from July l.
1908, to date. is but 1.9 per cent less
than for the proceeding period of like
duration.
The selling Of Steel seems to be from
strong sources, and yet the absorption
does not indicate that there is any lack
OF confidence in the buying.
Street Likes Old Leaders.
The Street seems to have liking for
the old leaders, and to welcome the re-
:urn Of interest into these stocks, al
the expense of less activity and less in
terest in the minor. and second grade
Securities that have so long cut much
ice in the market movement-that have
been taken up from time TO time tC
help along a distributing movement ii
the leaders and to acd strength to the
list when it seemed next to Impossible,
60 give the old time leaders any furthel
impetus. All this year the Hills anC
Union Pacific have been more or les.
dormant. with these stocks as bIaz
fers of the way there is more confidence
in the stability of any upward move
ment- There is another fact that is re
spOnsible for the strength, and this i
that the commission houses have SOM
orders. and that with either declining
or advancing market, but little stool
comes out. This fact has impressed
traders very peTceptibly.
Wall Street doesn't seem 20 take an,
stock IN the rumors of Harriman's re
tirement.
Steel Strong Position.
The position OF the United States Stee
Corporation is believed to be such tina
9he bears can make no Roadway. Dur
kng the years Of its organization tn
CORPORATION has spent a total of S34S, o32
k22 for extraordinary requirements, bet
feFments, etc Its affairs are in goo
order and II is prepared TO get its shar
OF business. Schwabs prediction Of a
early ending In the steel troubles wa
not without its effect The manner !
which Copper and Smelling held the
own added much 70 the general tempe
of the list The former advanced
point and the latter q, and held IN
gain throughout Steels showed 1ttl
change, going off early. but recoverin
liter. Tennessee Copper was stront
Host OF the industrials held well.
The Range.
Union Pacific sold TO 1884 from 1921
and then the stock rose TO 1898, an
reoeeded to 1885 St Paul made a
Of a point rally. New York Central wa
81 higher. Northern Pacific rose I
1896, as compared with a close at /:
yesterday. Reading declined and reco'
cred holding firm Rock Island, prefer
red, was decidedly firm at IL point
rise. Great Northern rose "a Interbori
preferred, was of Ia points, being III
Ne2kling of the list.