The Washington times., 1909-04-05
SHARP GAINS IN STOCK MARKET.
=. READING AND INDUSTRIALS
- SETTING THE PACE.

About 1.2O this afternoon the i''ct
developed that the United States SUI
preme Court would not decide the
commodity clause case today.
Immediately thereafter new highs
For the day were reached on nearly
everything on the active list ana Tor
the next half-hour the market was
very active. In the last few minutes
there have been slight recessions and
indications of an easier close winch
may OF may not mater!alize.
Reading rose to 1874 and eased to
1s5S.: Southern Pacific held around 10 z;
St. Paul rose to 15l. and of -; Union
Pacific touched ISIS and off Il. The
whole market was slightly under out
side prices as the last hour of the ses-
sion was reached. Steel, common,
touched 81. and the preferred llS3s. Cop
per 76& Smelling. SSs.
All stocks were strong.
fNEw YORK. April 81 p. mat the
immediate opening. the market started
off with n rush and seemed slated for
great advances. After thus getting IN
der way it sobered down and the last
hour of the morning was attended with
very general Oullness and considerable
shrinkage from the high points. al
though In many cases material improve
ments were held over the final figures
OF Saturday. The dullness was the re-
Election OF the waiting attitude of the
Street while the seven grave and
reverend justices Of the Supreme
Court OF the United states filed
into the courtroom and took their &C
customed places gave no indication for
an hour thereafter OF their intent TO
pass Judgment on the delayed, belated
no los
''commodity clause" of the Hepburn
railroad law. having direct bearing on
the ownership by common carriers Of
coal mines.
Fake Rumor Bulls Reading.
There was report that the decision
would be favorable. of course, there
~as not The slightest basis for any such
Sumor. simply the odds of even money
one way or the other, but on the
strength of this rumor they forced
Reading from 1855 to 1874 without much
trouble. and II eased back TO 1851 just
a. easily As the time passed and there
was no report from the justices, as de-
ctsion after decision was read in other
eases, the market became very dull.
The news OF the morning was rather
favorable. The London opening was
strong and there was a suspicion that
st he'd been given the strength by New
York orders.
Wabash February earnings showed a
gross increase OF ST3,674. ret S15i.4 S3
Missouri Pacific for the same month.
gross $5l5.s47 and net but S72,225; Great
Northern has ordered 1900 tons Of rails,
The City Railway Company, of Chicago,
g 600 tons. and the Milwaukee Light and
Power Company, 4,50O tons. The Della
ware and Hudson year shows gross de-
crease ef g. 664, 70S, net decrease SlSi, o91-
Coal departmen net decrease S21,1SI.
National Lead earnings show $500, 1S2
available for dividends from 1908 opera
ii )nS. a decrease Of SS9,493. ArDiCrage
brokers' took about 5000 shares in the
first few minutes of the session.
The general market was strong,
though the advances of the day were
not distributed throughout the entire
list. The minor rails did move with
the same freedom even in the first hour
that the leaders. and there were In
sustrials that did not show the
strength OF the Smeltsr Copper, and
Steel shares.
With the irregularity Of the market
the tone was rather encouraging to the
bulls. but there seemed to be stock for
sale at the top prices and disposition
20 take profits on the strong points.
Commission houses did not report the
public as taxing hold with any avidity.
Some Gains
Union Pacific started at a point gain,
or at 1914. and eased off to 1S7, recov-
ering to 1871. ST. Paul touched 150S4.
back TO 1yOl4, and 20 1904. the fraction
representing the gain. Southern Pacific
rose a. TO -122h. New York Central lost
- Atchison gained 4. Illinois Central
gained = Great Northern =. Nipper
steady. the Fries were all firm and
shcs1t a point higher.
In the industrials Copper rose from
75ia to 1914 or IL, Smelling from s7ss &c
So, then to ssh: Westinghouse to 81,
- S;Ik. as compared with S1N on Sat-
urday- Steel common 50Ts to SOS TO sos,
or y net gain. Steel preferred 4 higher.
Ice and Sugar q up. Lead =, and GEN
eraI Electric points higher.