The Washington herald., 1909-04-21
STRENGTHINREADING
Other Anthracite Shares Also
in Upward Move.
NO FEAR OF MINERS STRIKING
Usual Exhibition of ReactfOnary
Tendencies on Tuesday Not in Evi-
denee Yesferday-DecisiOn on COM
mOdItEeS Clause Case Not Expected
to In5ure Readings Value.

Nav York, April 20.-The exhibition Of
reacuonary tendencies in the stock mar
ket on Tuesday, 70 which people in
Wall street have been accustomed in re
cent months. was modified 70 this ex-
tent to-day that while the market was IT.
regular, not to say heavy In many quar-
ters. there was a development of special
strength IN other stocks which left the
average range Of prices in its entirety
higher at the close OF the day than II
was yesterday. The particular advances
referred TO mostly centered in the anthra-
cite shares. but embraced also some OF
the soft coal stocks and various So
called speeialties.
The usual criticisms were heard that
these advances were being engineered"
for the purpose Of facilitating liquidation
elsewhere. Violent fluctuations In the
price Of all the Reading issued have long
been a familiar feature Of the stock mar
ket; and the reason therefor Is, as every
intelligent person knows, the fact that
the floating supply Of these issues in the
market is small. and that a mere basis
OF current dividend distribution is no
guide 10 their selling price
May Increase Dividends.
The equities in the Reading property
are admittedly Of immense value; and It
is beyond question that some day these
equities VIII pass from potential into
tangible form A story heard to-day
was 10 the effect that a few months
hence the dividend rate upon Reading
common stock might De increased, and
that parties interested in the manage
Inent Of the company who have long been
opposed 10 such a step FOR reasons OF
policy, have AZ last given their consent
10 IL
Two developments, however. directly
affecting the stock have recently taken
place
One OF them is q feeling OF certainty IN
the financial district that whatever the
decision in the commodities clause case
that viii probably be handed down by
the Supreme Court before the adjourn
ment OF the court a month hence for the
summer recess It cannot be Of a charac-
ter 70 destroy the value OF the c0mpany's
property.
The other Is a feeling Of equal assur-
ance that there viii be no coal strike N
the anthracite region this year. and that
II Is not improbable that the miners IN
this district VINO have been led 10 enlist
their forces with those Of men in the bl
luminous district where interests Of an
entirely different sort prevail may con-
clude 20 once more set up a separate
union for themselves
Coal Business Light.
As regards some Of the other proper
ties to-day whose stocks were strong IN
the security market. the truth IS that
while speculation was no doubt busy with
them the current earnings OF these prop
critics are such rs 10 surprise the largest
stock-holding interests IN the concerns. It
IS known that the soft coal business has
been, and Is now, considerably depressed.
50 Il might be expected that business OF
the soft-coaI roads would be poor. taken
as q whole
But 4 viii be very surprising if, when
the March reports Of the earnings OF
some OF these roads are made pubHc-as,
for instance, that OF the Baltimore and
Ohio Railroad Company-it viii not be
discovered that the growth Of miscel-
laneOus business has been such as 20
much more than Offset any decrease in
revenues. owing TO the smaller sales Of
coal