Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-12-08
PRICES RALLY TODAY
Standard Stocks Restore
FirmnesS to Market.
REACTION after OPENING
Both Railways and Industrials En-
joy Advances.
SPECIALTIES QUITE ACTIVE
Presidents Message One of the Fa-
vorable Influences on Trading.
Money Conditions Unchanged.
sPECIALTIES QUITE ACTIVE
Special Dispatch TO The Star

Special Dispatch 10 Inc star
NEW YORK, December S.-Whether it
was the result of more mature considera-
ton of President Taft's message or re-
Spouse to favorable developments of
material sort such as have been more
or less neglectful of late, or reaction
from the excessive bearishness with
which the stock market following has
recently been afflicted, Wall street had
a better stock market today.
1t did not start that way, however.
After steady opening profit-taking
sales and bearish operations of a trad
ing nature induced extensive irregularity
and impaired rather reactionary ap-
pearance to the list
The course of prices during most of the
first hour encouraged the view that the
market was more likely than not to re-
peat its characteristic record of the last
few weeks by day of decline following
a day of advance. but around the middle
of the forenoon. although trading was
not particularly active. prices hardened
and In the early part of the afternoon
the list had a distinctly strong appear
ance.
Although specialties were active the
market enjoyed good all-around leader
ship by standard stocks, both railroad
and industrials.
Comment on Message.
on second Thought, Wall street I'M
doubtedly came to the conclusion over
night that the full effect of Mr.. Taft's
message had not been discounted by
whatever advance information as to it's
contents was available in the financial
district. The discovery was made that
the message had by its moderation and
dignity made desirable impression on
the country at large.
Moreover. it was inferred also that the
manner and tone of Mr.. Tafts first an
nual communication to Congress were
guarantees that a sense of sober RESPONSE
bility would characterize the Presidents
treatment of such subjects as were rele-
gated to subsequent special messages.
These considerations undoubtedly affect
ed sentiment as revealed In todays stock
market.
Favorable influence was also exerted
by the important court of appeals de-
cision regarding the power of the pub
lie service commission. The ruling of
the court that the state commissioners
are aroused to determine only what 1T
is lawful for corporation to do and
not the propriety or wisdom of it's acts
are is so eminently sane as to encour-
age the hope that similar disclosure
may some day be made at Washington
with regard to the powers of the bu-
reaucratic bodies which have been or
may be established there to supervise
interstate commerce.
Not Much in Days News.
Apart from these developments there
was not much in the days news. outside
of reports of earnings. calculated ito af-
feet stock market dealings. Rumor about
the continuation of the so-called copper
negotiations was current, accompanied by
talk of coming curtailment of the metal
output by large producers. but not much
t0
railroad labor situation received the notice
which ii deserves but whatever unpropf-
tious aspect the demands about to be i'm
posed on the railroads by their employees
may have for net earnings appears to be
offset by the potent argument for increas-
ing traffic rates with which the railroads
will be supplied.
Money conditions showed no change.