The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-07-28
UNION PACIFIC CROSSES 200 MARK.
GENERAL LIST IS QUIET, BUT
VERY STEADY.

NEW YORK; July IS p. m,-Enter
Ing the last hour of the afternoon, the
market continued just about as dull as
possible, but at the same time about
as firm. Reading sold at the highest
figure of the day, 157. or is net gain. al
this time. st. Paul. at 157, showing ?.
gain. Northern Pacific 1538s0& net ad-
vance: while many stocks were IzQH
above yesterdays closing. Union Pa
eific was pegged at 1888. Steels were
strong at III and 1919.
NEW YORK, July 2S.-Union Pacific
crossed the 500 mark Immediately fol-
lowing the opening. 1t has been work
ing that way for many months. and the
predictions based on this new high have
been insistent and justified by the rise.
The famous premier Of the Hartman
list is unquestionabIy in a class by
itself, and, when it leads. the rest viii
follow. Its enormous holdings Of cash
and its millions Of securities IN other
corporations. have given it assets Of
great value and feeders that make to
great freight and passenger business
from ocean to ocean. and between the
larger cities Of the country. Not only
II
then IT dropped back to 1888 and again
touched 1875. That there should be a
setback from the 200 was but natural.
in that there were many stop orders
pegged at that figure from satisfied
spectators and investors who had set
the zoo mark as a place where they
Wrre willing TO get out and leave future
operations in Union Pacific to the men
OF millions
For fhe Union Pacific has perhaps
ceased to be a stock for the ordinary
room trader to take chances with. IN
terest charges are large and probable
chances for profit not correspondingly'
great.
Generally the market responded to the
rise in the leader and to the excellent
manner in which the foreign market
accepted the action OF the directors Of
the Steel Corporation in a 8 per cent
dividend on the common stock, Nor
San wanted a 4 per cent rate, but the
conservative Standard Oil people were
satisfied with the compromise at 8. Ion
don was especially strong on Southern
Pacific and our market responded quick
~, but did not hold as Well, as there
appeared to be stop orders around 1874
gnu Aue BUCK DIOhG uoWu 10 Ao1ts anu
recovered TO 1884, a net OF 4 below tbs
closing of Tuesday. Southern Railway
was well supported on Morgan buying
and London also. The price advanced
from 315s to spa and then back to 31k
holding but fractional betterment
Some Minors Show Strength.
Some Of the minor stocks on the list
showed fairly good tone. Norfolk and
Western, Ontario and Western. Mop. and
other stocks made 2sQ1a point on upward
movements and held their gains well
Southern Railway preferred rose a
point. New York Central was the leader
in point Of betterment It opened at
1851, a y point rise, and sold 10 13S
and reacted to 1875 and 1873 Great
Northern, NippeT and Baltimore and
Ohio. with other leading rails, showed
some Improvement.
Steel Steady
Steel shares were steady. There was
no show Of dissatisfaction with the div
idend, but rather satisfaction with the
probable good showing for the third
quarter of the year, due TO the enor-
nous business that the corporation Is
now doing. Statement showed net for
June quarter, S29.340 49l- Unified or
ders. 4,O57 939 tons. and this is an in
crease Of 40, GOO tons since last quar-
ter. steel comm on was y higher, but
selling orders put II back TO net
at yesterdays close The preferred
was firm.
Minor steel companies shared in the
Colorado Fuel firm Copper was weak
and = of Smelling slightly easier.
The market during the noon hour
Was very slow but very steady.