The Washington times., 1909-03-27
BIG. BROAD. STRONG STOCK MAR
KET, WITH GREAT GAINS MADE
IN ENTIRE LIST.

NEW YORK. March 2I.-Close.-To-
days market was broad, active and
strong. The strongest spots and the
leaders in activity were New York Cen
tral. Union Pacific. Louisville and
Nashville, and Reading, while in the in
dustTial list Copper, Westinghouse,
Smelling. and steel were real taVOrlIeS.
There seems to be a growing opinion
that the tariff bin viii never pass to
enactment I'm anything like its present
shape. that there viii be a material
raising of duties on "A number Of things.
even 10 such an extent that II will af-
feet steel and iron Moreover, indus
trial conditions are such that many
usually well-infOrmed people are look
ing for a rousing revival OF business
with the enactment of the tariff bill,
no matter what form it may be in when
il hn3lIy reaches the W hlte House The
depression has resulted from the neglect
of buyers TO stock up. and this is true
in all lines or trade even to the veTiest
necessities. With the tariff out OF the
way the orders Will be speedily forth
coming and industrial prosperity viii be
under way with a rush.
Moreover, the time is but few days
away, comparatively speaking, as the
month Of June will PROBABLY see the
measure out of the way and Congress
adjourned.
Readings Rise
The rise in Reading was largely based
on the belief that there will be no
strike Of coal operatives, just as the
selling was on the theory that there
would be a strike with the resultant
troubles, publicity and long struggle,
with loss Of wages, damage to property
and Of no benefit to anyone, unless
perchance TO the owners OF the coal
mines. who seemed 10 court a strike.
one of the weak stocks OF the morn
ing was Republic Steel and Iron, the
largest OF the independent steel COM
In NNHa
found in the announcement OF a cut
OF 10 per cent in the wages OF its en-
piOyeS.
The authorities with their fingers on
the pulse CT business have somewhat
different Verdicts on general business.
BradStreet reports more than ordinary
quiet in most lines of business" Dun
says: In spite of Industrial depression
there Is nevertheless a good volume OF
trade
The fact that there was a decrease of
$500 cars in the last fortnight seems 10
favor the Dun theory, with everything
inviting construction at this time.
Railroad earnings, although compar-
ing with period OF low earnings, show
good increases.
Market Gathers Headway.
The market gathered headway as the
session advanced. The theory that there
would he proft-taking in the last few
minutes of the session did not prove 10
be cor rect, as the market continued 10
ShOW good tone until the end of the ses-
sion and closed bette than for weeks
with the late strength some Of the
laBgardS started following the leaders
IN the advance The latent short inter
est woke up covered freely with the re-
suit that there were late advances all
through the list, but the strength car
l1ed the tavOrites faster and TO higher
prices than were expected.
IN TINS advance Reading rose to 1342s,
J as compared with "A close at 132as yester-
day Union Pacific rose to 1S3, as com
pared with close yesterday at 1907
81 PAU was a laggard until late in the
session, when it advanced a point The
ErieS added IL. Great Northern, slow
IN tbe~firSt hour, became active with A
point gain in the second hour Mis-
souri, Pacific added 4 point 10 it's clos
ing or Friday. New York Central n1ove,,
up TO l2o4, and II was one Of the strong
stocks or the DAY right through the ses-
sion Its report for the last quarter OF
lstS was bad. but the cause was found
in liberal addition to tine operating ex-
penses OF the road. Louisville and Nash
vile was Is higher, Alton rose over a
polnt, Baltimore and Ohio "a and many
stocks 1zGS4.
activity In Copper, Smelling, ConsoIi-
dated Gas, Westinghouse, and Chicago
Gas were leaders.
Copper opened at 71I, and rose TO 74L.
Smelting advanced from SJzs 10 S77k I if
tie Steel despite ali bear talk and a bad
start closed at 20. full point gain The
preferred was 3 higher. Tennessee Cop
per rose 1ss. and held a point gain.
Westinghouse set a new pace in a rise
from 70 TO s.. General Electric a point
higher, and Consolidated Gas moved uI
from l33 10 1852
The market closed grinding on the
top of the high prices
"