Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-04-08
STOCKS keep STRONG
Many of the Active Issues
Reach Higher Levels.
c. & O. SCORES A NEW MARK
1ndustrials Furnish the Conspicuous
Movements.
BUOYANCY IS GENERAL
Traders Get a Big Surprise in the
Before-Easter Holiday Close.
Special Dispatch TO The Star.

Special Dispatch to The Star.
NEW YORK. April S.-Contrary to the
expectations of a large number of traders
who were waiting for the last day before
the triple Easter holidays in which to
pick up stocks upon a recession of prices.
the stock market opened up strong this
morning. and after the usual fluctuations
1t was noticed that a majority of the
active issues were creeping to higher
levels.
Chesapeake and Ohio, which for several
days of late has been adding to its high
record, struck another new high-water
mark In the early dealings. and American
Telephone and Telegraph securities also
jumped to new high levels. aggregating
for the common stock a five-point rise
since yesterdays low quotations. Louis
willie and Nashville also made another
high record since the panic of 1897, and
Union Pacific and United States Steel
common. which had been leaders Of the
market for several days, returned early
in the afternoon to about the highest
prices established on the present upward
movement.
The stock of the Mackay company
which controls a large interest in the
American Telephone and Telegraph, also
rose three points in the afternoon, and
Western Union. in sympathy with that
terday's low figures.
Rise in Western Union.
The rise in Western Union tended to
dispel belief in rumors to the effect that
the advance in American Telephone and
Telegraph was due largely to manipula-
tive efforts and not to an improvement
in the telephone and telegraph business
that has been going on for some time.
mn ho ind, OF ri ok FINN TOM fnC
were recorded in American Cotton Oil.
American Agricultural Chemical and
Virginia-Carolina Chemical.
The whole market. in fact. was under
the broadening influence attributed to the
desire of investors to get into this bull
movement before the holiday season lest
they might be too late to derive the full
benefits when the market opens up next
ency which has been In progress now
ever since February % last but particu-
larry evident in the last two weeks.
All Predictions Fail.
Predictions had been made by many
professional traders and commission
houses that although the advance would
be resumed with a rush next week prices
would san or Wednesday and Thurs
day Of this week. due to a fear on the
part of operators for the rise to carry
very large commitments over the holi-
days.
The experience. however. OF the last
few days has been a gradual expansion
of the market with a corresponding In
crease in the value of many stocks hith-
erto neglected while the leaders were
rushing rapidly upward
The average prices for the usual twen-
~ representative railroads and twelve
Industrial stocks taken for computation
has shown net increases both on Tues
day and Wednesday evenings. and in the
early hours Of tOday's market there was
materially higher in nearly every repre-
sentative Stock not TO mention new
high records for several.
London Also Springs Surprise.
The London stock market also had a
surprise in store for those who thought
they could pick up bargains today. Every
thing was up in London including Ameri-
cans, and the market continued strong
throughout the entire session
Money continued easy, but the Bank of
England did not change its rate Of dis
count today. preferring, it was said UNI
Officialiy. not to make any reduction on
the eve Of the quadruple holiday over
there.
Bankers confidently expect, however.
that the Bank of England on Thursday
Of next week viii reduce its present ~
per cent rate to . per cent thus insuring
easy money, both abroad and in our local
market.
Look for Coal Miners Settlement.
The continued rise in Reading and
other railroads deriving much profit from
their ownership and operation of coal
mines was taken to mean that traders