The Washington times., 1909-04-30
TRACTION SHARES AND SOUTHERN
RAILWAY LEAD THE NEW
YORK MARKET.

NEW YORK, April So p m--The
lead gained by the Morgan stocks in
the early trading. the traction shares,
and Southern Railway, common and
preferred, is being held into the after
noon operations. Interboro Met is sell
ing at II and the preferred at AZ, max
ing IL points for the day. Third Ave
nue. has gained ? points, and the South
eru Railway shares are at high figures
for the present movement Of stocks.
JSnion Pacific is pegged at 1854. and
Reading is above 147.
These figures represent such strength
as the market has. Most issues have
made only fractional gains for the day,
and some stocks are neglected and sta
tionary. The volume of trading is
small, and the days dullness seems 70
sSave been helped along by the prostra-
Mon of the wires in Chicago and through
the Northwest by the storm which mas
been raging there,
Smelters have been today the strong
est OF the industrial group, advancing
about point. Steels, coppers, and rub
berS have been inactive and Irregular.
NEW YORK, April 9O-Noon.-The
stock market today is pursuing the list
less course which has characterized It
for many days At the opening and
i'm the early trading there was a fitfui
show Of strength. which petered out
before the end Of the first hour. Read
ing. nion Pacific, Southern Pacific,
and traction shares are the strongest in
the list these showing some activity
and De * firmest in price.
The iarket has been almost stripped
h. cOmmission-hOuse orders. trad
in ,cry narrow and price changes
> Lost of the business OF the
u is traceable to the pools which
W. 1ecialties for a turn That seems
to nave been the case a few days ago
when Wisconsin Central developed un-
expected strength and then faded out Of
sight as suddenly as il had appeared.
Much Of the rise Of yesterday in Steels
was of the same character, and they
are neglected and lifeless today.
The strongest card in the list is the
local New York traction shares. Inter
boro Metropolitan, and Third Avenue
have been selling strong all the morn
ing. The bonds OF the Interboro Com
pany have recorded large sales on a
rising scale OF prices ano the STOCK
shares have felt the influence Of the
work OF the bond buyers
Those who make practice of reading
krhe market for the information Of 9TH
Frs say today that the decision in the
kHepburn case may be expected next
Monday. and that spectators generally
are waiting to learn what il may be.
In case the decision does come out be-
4OE8 lllS VI TIE CouEN Aot
its two weeks holiday, and Is favorable
to the railway interests. this class of
prognosticators hold 10 the view that
the market would be let loose and
prices would soar very high.
Others attribute the condition OF the
market to the uncertainty Of the wealth
er and crop conditions They think
that a few warm days which would
bring the crops forward and give prom
Use of a bOuntiful harvest. would dc
more to eniiven the stock market than
any other influence that can be named
This class of opinions Is only in the
nature of a confession that the market
prophets hnd conditions hard to read
Stocks are dull and they do not COM
prehend just why nor do they know
just when conditions will be better.