Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-03-27
OPENED At ADVANCES
Weekend Conditions a Sur
prise to Chart Men.
ANIMATION Is GENERAL
Railways Lead Off With Rises of
Point and More.
CONSOL. GAS BIG MOVEMENT
Rise of About Five Points in Last
Few Days-Improved Situa-
ton In London.
C0NS0L. GAS BIG MOVEMENT

Sreciai blSpatch 10 ne SUR
NEW YORK. March 21--The opening
OF the stock market this morning at an
advance over yesterdays closing figures
was somewhat of a disappointment to
those who follow the charts and. there
fore, might reasonably have expected
material reaction after several successive
days of rising quotations. But the mar
ket not only opened strong in those securi-
ties which have for some time been re-
garded as leaders, but at advances in
many of the issues which heretofore have
apparently been neglected.
Baltimore and Ohio was one of the
most active stocks this morning. moving
up l point to HOS. and there was more
than the usual activity and strength
shown in Missouri Pacific and Wabash
preferred. The continued rise of secur
ties in the local market WIS due in part
10 improved sentiment in financial circles
in Europe over the Balkan situation.
which was reflected in higher prices for
cOnsols and other European government
securities on the London market. as we'll
as for Americans and standard mining
shares on the other side.
Just before the opening of the market
here this morning the news agencies in
Wall street circulated an unconfirmed
rumOr that two of our battleships had
been blown up in the harbor of Guanta-
namo. Cuba. Denials of the truth of this
rumor. however. reached the financial
district before it had had time to have
any appreciable effect upon the market.
Factors in the Market.
A pronounced rise in Consolidated Gas
this morning of more than points since
yesterdays closing quotations. making
about points since the company elected
a new president. justified the directors. it
was believed. in having selected such an
eminent retiring cabinet officer to head
that company. The advance which the
stock of the company has been making in
the last few days was regarded as a legit-
innate capitalization of Mr.. CortelyOu.
The activity and rising tendency of the
market today was attributed in some
quarters to the advices that have been
going out from commission houses re-
Gently recommending the purchase Of
some of the standard stocks. with the
idea of them being carried very safely to
higher levels within the next two or
three months. after the national legis-
lature shall have finally disposed of the
present perplexing tariff question. The
improved physical condition of a noted
ftnancier now in consultation with the
heads of his various enterprises on the
Pacific coast undoubtedly contributed to
the further strength shown In the Harri-
man issues today.
Southern Pacific Caution.
The fact that the Southern Pacific Com
pany has been earning enough to in
crease the dividend on the common stock
TO per cent, but has not done so. has
been ascribed to the fear of making too
good a dividend showing until after the
adjournment of the California legislature
this spring, and those who have been
steadily buying the stock upon recess
sIons firmly believe that after the west
ern state legislatures have adjourned for
the winter the directors of that company
will see way to the declaration of a
larger dividend.
similar state of affairs undoubtedly
exists in the case of the Atchison To-
peka and Santa Fe road, whose earnings
indicate that the company could safely
increase the present dividend of per
cent upon the common stock. These are
but samples of the excellent shOwings of
increased earnings by many other stand
ard railroads.
The report of improved trade condi-
tons and of increased bank clearings
throughout the country continue to in
spire confidence.
The market closed strong and at prac-
tically the highest prices of the days
snort session, the net advances being
from one to three and one-half points
In the standard issues thus raising the
level of quotations for representative
railroad and industrial securities to high
er planes than have hitherto existed i'm
the local market for more than a month