The Washington times., 1909-07-30


turned 14I15, or nearly points rise, and
the whole list was acting bully. In
the metals. Amalgamated had extended
its gain 10 a fun point, and Smelling
10 rs gain, with many buying orders.
National Lead made a net ~ rise, II
was a broad market, nor were there
any symptoms of nervousness on the
part OF the buyers.
NEW YORK. July 3o.-There was
nothing Of a hesitating nature in to-
days market. 1t was plain case OF
fresh start and a strong breeze, with
much bull power behind IL. Probably
President Corey. Of the United States
Steel Corporation. furnished about as
much OF the power as any one else.
His published interview in a local paper
showed great optimism. and Indicated
that the best steel market in the
world" had not the slightest doubt but
that 1910 would be the banner year IN
production, not only by the corporation
over which he sometimes presides. but
by Independent companies and foreign
competitors. DOubters rushed into the
market on the tap of the bell. and
bought Steel shares right and left. In
thing but a per cent dividend on the
common stock before the end OF the
current year, perhaps 3 in 1910. and the
way they bought Steel was a wonder.
Crops Promising.
Then, too, the crop reports were Of a
most encouraging character. and there
were more rumors concerning the op-
Grafton of pools and combinations. The
welding of the Harrimans, with the New
York Central, among the first to re-
ceiVe the welding process, was frequent
~ referred 70. and the Gould lines were
given the benefit of an assurance that
they would be taken up, as evidenced
by renewed activity in every one of
the stocks under this group, even to
Western Union.
And the note Of conservatism has but
a temporary sound TO il; Still adhere
TO the bull position. The only disturb
ing condition is the situation in Spain,
and that has come 10 be a chronic
condition, and has but little weight.
OF course, il is wise to take profits,
perhaps advisable, out we have not, by
a long ways, seen the top of this mar
ket."
that.
Other Bull Stories.
In addition to all other stories. there
was something more anenL SOUTH
ern Pacific. II was vague, an
underlined hint, but these pointers seem
TO carry weight with them these days.
Union Pacific made a new high record,
passing over the 200la Of a few days ago
and touching 201l4. At the 201 consider
able profit taking was noticed and a
block more at 2011z. But there was no
setback from the high worthy Of special
mention. This was also true Of practi-
cally everything on the list. Southern
Pacific rose = point and held the ad-
vance Reading, under the manipula-i ion
Of Gates and the regular Reading
crowd rose 10 1854, practically a point.
ST. Paul was = higher. New York Cen
trail practically a point up and Chesa-
peake and Ohio y better. Louisville
and Nashville astOniShed its friends BY
creeping up q as compared with the
usual ] TO , points rise, but it is now
around 1861 and the advances should be
more modest. Great Northern IS, At
Gibson q, and Big Four y higher.
Industrials Strong.
Steel common rose on the tap Of the
opening bell TO TBS and then to 1874. The
preferred = higher at 1881. General
Electric reached q Of a point higher
levels, Republic Iron and Steel y. and
Colorado Fuel Ia better.