Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-09-14
v|COR IN THE STOCKS
Progress From Firmness to All
Around Strength.
FEATURE ON N. Y. 'CHANGE
So.Called Hill Securities Specially
Strong.
RAILWAY GROUP ADVANCES
Indications That Harriman's Death
Permitted Plans to Develop-U.
p. Preferred Noteworthy.
RAILWAY GROUP ADVANCES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September 14-Stocks
progressed from firmness at the opening
TO all-around strength in the subsequent
forenoon dealings and aggressive v1gor IN
the earlv afternoon on a volume of busi-
ness decidedly small in proportion to the
character of the market and the changes
in prices.
Despite its appearance of general inter-
est. the market was still decidedly mar
row. In that a few issues monopoized the
bulk Of the transactions.
Whatever commission house business
there was was probably of a semi-pro-
fessional sort, and except in small
number OF stocks the dealings had the
earmarks of manipulative operations for
pool and individual accounts. In fact. the
market as whole today was very much
like ore of the markets in the early part
of the summer. when the rise which took
place then was being accomplished With
out public participation.
Price movements in stocks supplied the
developments of chief interest in the Wall
street community during the day. The
so-called Hill stocks. Great Northern and
Northern Pacific. were notably firm and
Louisville and Nashville scored a sharp
rise. Atchison was consistently strong,
as were all the issues identified as part
of or with the Union Pacific group
U. P. Preferred Attracts Attention.
Union Pacific preferred once more at
tracted attention by an extensive advance
and its course served to lend the color OF
truth to the current reports that Mr.. Har-
riman's death removed an obstacle to the
execution of plans contemplated by Union
Pacific interests for a profitable distribu-
ton on the Union Pacific issues over and
10 ,lnr 1tx-td dc
In most cases the course of prices was
accompanied by a variety of rumors such
as are always the incidental phenomena
of manipulative efforts. For example, ex-
aggerated expectations were held out
with regard to the dividend prospect OF
New Jersey Central, and these, together
with the movement Of Lehigh Valley In
philadelphia, were unquestionably useful
IN assisting Reading to make very sub
stantal gain.
The coincident strength Of American
Telephone and Telegraph and Western
Union continued to lack explanation ex-
cept by surmise that 1t might betoken
the satisfactory progress of important
negotiations. For the course of such
stocks as Atchson. Pennsylvania, Rock
Island and United States Steel. there does
not seem to be much necessity to seek
other reasons than those supplied by
fundamental conditions. The metal
stocks were an interesting department OF
the industrial quarter because of the
morning against Amalgamated Copper;
whether because or in spite OF this at
tack Amalgamated Copper was very
strong. were the other metal stocks.
Fireworks Probably Over.
The market as a whole seemed to indi-
cate that fireworks and fracases were
over for the time being anyway. and that
whether the professional spectators
should or should not do SO. they had
taken heart Of the grace vouchsafed.
The changes made in the Southern Pa
cfic directorate as result OF Mr.. Har-
riman's death were precisely the same as
those made In the Union Pacific direct
crate yesterday, and were exactly in line
with expectations.
They were not reflected in the stock
market Neither did the money market
reflect the increasing f1rTnness in money
conditions.
The call loan rate was today substan-
TALLY 2k per cent, but the lendings indi-
Gated that this figure should be regarded
from now on as the minimum instead of
the maximum.
There was no quotable change in time
loan figures from yesterday. but the Of
ferings were SO limited that If all Of the
bids for accommodation over the year at
per cent had been raised to AZ 1t is
doubtful if they could have been salts
fled at the advance. New York exchange
at Chicago went to par. however. giving
further proof of a decreased interior de-
mand for funds.