The Washington herald., 1909-04-08
MARKET HOLDING UP
Despite Coming Of Holidays,
Strength Is Shown.
SOME SHARES RISE SHARPLY
Pacihcs, Steel, o. & o., and Several
TndustriaIs Make Conspicuous Ad-
vances-Firm UndertOne I'm London,
wheat Higher Than for Twenty
Years, Except During Corners.

New York, April AFTER tomorrow
the stock exchange will be clased until
the following Monday. and the influence
Of this approaching suspension of busi-
ness was clearly discernible IN Wall
street to-day. Many large professional
SPECTATORS undoubtedly made arrange
ments to lengthen their holiday by in
cluding tomorrow in It. and. as may not
be popularity realized, purchases Of stocks
made to-day and remaining unliquidated
through the stock exchange session car
ried interest until the first business day
OF next week
In the main, therefore, the tendency
OF speculation was toward diminishing
activity and a continuance of yesterdays
proht-taking. Nevertheless. all this was
counterbalanced by q development or
strength in various particular quarters or
the market, so that. taken as e whole,
prices left of irregularly and with even
q slight net advance showing upon the
average.
Active Shares Rise.
Whatever selling Of stocks went on
was in no way urgent. and appeared to
be chiefly noticeable in all OF the active
shares. which rose so sharply earlier in
the week. such as the Union Pacific and
United States Steel stocks But, on the
other hand. conspicuous advances to-day
we're made upon relatively large trading
in the American Telegraph and Tele-
phone, Chesapeake and Ohio Reading.
Delaware and Hudson. and in the indus
trial list In the Corn Products. Interna-
tional Paper common and preferred, and
American Cotton Oil and virginia-Caro-
Ina Chemical stocks.
In the case OF all these last-named
stocks special reasons were accountable
for the gains. A prospect that wood
pulp can be imported free OF duty under
the new tarih law afforded legitimate
ground for the rise in the International
Paper. and favorable business conditions
were. as is believed. behind the upward
movement IN the various fertilizer stocks
and the American Telephone and Tele-
gTaph and Corn Products shares.
rumor that the Delaware. Lacka-
wanna and Western directors proposed
doubling the dividend rate on their stock
was doubtless the cause Of "a new high
record quotation for the price Of this
Issue: and all the coal-carrying railways
were affected by a widespread convic-
ton IN the financial district that as the
result OF the pending conferences be
tween their representatives OF the miners
union and those Of the coal operators the
present wage scale agreement will be
signed for another three years term
London Market Firm.
Although the London market today. as
well as our own, partook o. a holiday
character. yet there was a firm. n not
buoyant, undertone there owing to the
disappearance OF factors making for Do
htical uneaslness and 20 a constantly
lowering trend for rates for the use of
money. These rates fell in London to-
day to IA per cent, the lowest seen at this
season for twelve years
The real feature Of the day in the
country's financial and commodity mar
kets was a sensational further advance
In the price of the options FOR the near
by deliveries Of wheat here and in Chi
cago. The May wheat option in Chicago
touched SL2594, the highest level seen
at any time in this country in twenty
years, with the single exception Of the
prices reached in the famous Letter and
HufrhfncOr1 stoorna~erf IN 1000 -