The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-20
MARKET RECEIVERS FROM EARLY
BREAK AND STOCKS
RALLY WELL.

NEW YORK, July 20-NOOn.-The
Wall Street market today is hanging
fire. much as it has done for a week
past. Business is very light and price
changes are generally within narrow
ranges. Some stocks are active and
higher.
A sharp upward movement occurred
In Twin City Rapid Transit In anucipa-
ton OF an Increase in the dividend rate.
The earnings have long sufhced for an
increase OF the disbursements to stock
holders. There was some time ago dis
CUssion of the subject. but the conserv-
Rtive element carried the day ana the
Increase was not voted. Those who OPP
posed at that time are now understood
TO be in favor of the proposition.
Anticipa ZION Of highly favorable re-
suits for the year ending August 81 and
an increase of the dividend 10 8 per cent
in the fall were the reasons for the
buying Of American Cotton OIL when
carried the price up near TO Its hlgneSt
record. The buying Of the Rock Island
issues was said TO be slgnincant ana
while not countenanced in the highest
quarters the rumor that the preferred
would be put on 4 per cen< basis IN
the near future received credence among
moor traders.
Rumors Of rights accompanied the
rise In General Electric and IN all quar-
tiers II was conceded that the company
is doing a large business and that the
prospects Of the stock are bright,
News Not Important.
News about the exchange was not of
an important character, though much Of
1t was interesting. The principal items
on the bulletin boards may be sum
married. as follows:
Meeting of LaCkawanna stockholders
TO increase stock today.
Labor situation at Pittsburg continues
disturbed and uncertain.
One per cent corporation tax adopted
by conference committee at Washington,
with holding companies exempt.
Burlington report viii show II per GEM
earned on stock.
Copper-seIling agencies report some
IMPROVEMENT in demand for the metal
All plants of Republican Iron and
Steel are now in operation. ILLINOIS, steel
Company gets orders for 5000 tons OF
rails
Forty roads for first week July show
average gross increase OF 500 per cent.
Deals Rumored In Rails.
II is rumored about the Street that
e strong pool has been formed In
Northern Pacific by 1IoTgan-Hill follow
ers because Of certain favorable devel-
opments expected in a short time, the
nature of which is not mentioned now
except 10 say that il relates TO rights.
Higher prices are being predicted Tor
The stock which is said TO be limited IN
supply owing 10 recent accumulation.
Reports indicate also that there is
some kind of a deal pending involving
ST. Paul preferred stock. Certain Well
informed people have bought 1t. ms
Information corresponds with reports
obtained q short time ago as 70 import
ant developments that might raise st,
Paul common. There IS great secrecy
IN this connection and II Is impossible
10 set anything more definite. The com
mon stock is reported 10 have been &C
cumulated for month in strong hands.
Of, Then Recover.
Stocks generally passed within a
range Of about one point. The opening
was in some instances fractions below
last nights ciosing. and the tone OF
1he market was weak. The railroad
shares and he leading lndustrials sold
on about one paint. and from the lower
Level gradually came back about 70 The
opening 6guras-
AmeTlca1 copper for example opened
81 So solo pN - KS, and returned 70
"a Anaconda was stronger II The
morning trading and instead Of selling
lower went higher under support sup
posed 10 be pool buying and later
lapsed back % tle opening figure. Steel
also had a similar movement Southern
Pacific followed the usual course, losing
about a point On the early decline and
gaining the loss before noon
At the opening Of the last hour the
Steels, Rock Island IT. Paul, Cotton
oil, and Chesapeake and Ohio are hold
ing their rallies, and the market is com
paratively strong. Good support of the
leading stocks has developed. and the
market now has every appearance Of q
aLrnnn and active nLosa-