The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-03-24


NEW YORK, March 24-1 o. m--There
were no evidences of weakness in the
stock market today, the reverse being
the rule in all of the leaders. while there
were few stocks that did not cover the
slight losses of yesterday, even though
they NAV have made no additional bet
terment today. The strength of the
situation is impressing itself on the
traders and the commission houses, and
they have about come to the conclusion
that "a bull market is in order; that the
only ching that can check it will be Il
fJSeiga war scare, and that the powers
of Europe have this matter we'll in
hand.
The action of the metal stocks has
been a surprise to the Street. The
movement in Steel, Copper, and Smelt-
ing has shown much better buying than
selling, and this despite poor trade re-
ports. Despite the talk of free ore.
Great Northern Ore has made good
gain. and even the inactive stocks IN
the industrial list show some tone. New
York fractions, the sore spot of Monday.
were much better, making gains oil
large fractions A point advance was
recorded in the case OF Interboro, both
common and preferred.
Very Dull.
Willie the market presented resist
ance to any effort to depress, and act
ualIy made good gains, there were
times when the dullness itself was de-
pressing, times when the room traders
could not get action for their money,
but even then there was no pressure TO
sell stocks.
The news of the day was not of suf-
ficient importance to influence stocks
one way or the other. London bought
back some of the stocks she sold yes
terday. The gold exports to date, in
Guiding engagements, aggregate SO, TO-
600 on the movement that began March
9, but with as much money in the
banks and as little call from general
business there Is no chance of the eX-
ports having any unwholeSome effect
on the financial situation. Money was
freely offered on call at Ia per cent.
Old Leaders Favorites.
The old market leaders were again
tfe' tavorites, this being considered an
indication of strength. The scarcity OF
these stocks is one reason why the
bears are not inclined 20 take any
chances with them. The rise in South
err Pacific to 12ok was easy, net re-
covery OF A, point, from whence a
slight reaction followed. st. Paul
moved up to 145, a half-point advance.
Union Pacific started at 1903, dropped
TO 1901, and then turned 1903. Penn
sylvania gained %d1z. and Reading
acted well enough to score an advance
of Is to 1905. Missouri Pacific was the
only one OF the Goulds to attract spe-
ciaf attention, rising to 6914, as com
pared with close yesterday at 6S9s.
Nipper was y better. Great Northern
was rather slow.
Copper rose to 7Oss. an adanvec of a
point Smelling turned 81, q a gain,
while WOODEN rose Ia. Little Steel was
a little weak early in the day but grad
ually acted better and made a net gain
Of =, the preferred turning Ill. Beet
Sugar was e higher.
1t was remarked that Great Northern
Ore rose Il OF a point and comment was
made on this show of strength in view
OF the general gossip of the results of
free ore as provided by the Payne bill.
Strong and Higher.
In tho noon hour the market broad
ened bit as to prices, but the volume
OF business was very light. That there
should be such strength on such limited
trading was taken by the bulls as an
other indication Of an up-turn.
At o'clock Union Pacific was pegged
Al 49, Southern at 1904, Pennsy at 1875.
Reading at 1915, making Is net rise
for the morning. Steel common was 45L
ana the preferred 111K-
TIE whole list was 1<N3s higher and
the strength of a positive character.