The Washington times., 1909-12-09

lowed and the market closed firm WIZ
prices good fractions above initial quo
tations Eastern rails were stronger
than Western. and the industrials were
steady.
st Paul. opening at 1854, ran up e
15s and receded TO 1919. Union Pacific
started at 20is, rose 20 22. and went
back to 201h.
Amalgamated Copper passed over q
range Of =. closing at ST. Sugar had
fluctuations Of los points. closing at l2S
Trading was slightly dull at the close
NEW YORK. Dec. % D. m.-ThC
market continues very steady with an
eighth advance in the leaders The vol
ume of business Is not large and the in
dications are for good closing.
NEW YORK. Dec. 9.-waH Street Is
in a cheerful mood. and is running II
the shorts I'm Union Pacific. Steel com
mon. Copper, Smelling, and Reading
These are the leaders Of the list, bu'
the better sentiment extends to prac'
tically all securities The fact that none
OF the aggressive things that were eN'
pscted in the Presidents message were
omitted has given tire Street more
courage. There is a feeling that MT
Taft wishes TO discuss the situation
and the proposed remedies WIN ms
Cabinet and also with business inter
ests here and elsewhere. The average
market operator can not bring himseli
to feel that Mir. Taft VIII he anything
more than a business booster and they
look for the aggressiveness In the spe-
cial measure TO be OF such character
49, -
Moreover there is a growing impress
sion that money is going to be easier
in the immediate future. From all sec
lions Of the country come reports Of a
character TO inspire this belief. And
hack Of II all is the general theory OF
a bull market in January.
Il must be admitted that the general
public is not represented in the puT-
chases Of today. Some reinvestment OF
January disbursements Is being made
but as rule the operations are almost
entirely speculative. and the advance Is
largely engineered by the men who are
carrying the stocks. There may be a
few exceptions, but not many. 1t is
stated that Pittsburg people are bacl
Of the movement In Pennsylvania, bas-
ing their operations on the outlook fol
the earnings viii reach figures never
before expected
The Street is much attracted by tn
continued rumors of excellent business
and the outlook for the future This is
the story that comes from every great
center. n is repeated in all kinds OF
commercial and statistical reports. IN
dustrv is At a higher flow right now
than at any time I'm the period following
the recovery from the panic Industrial
stories are Indicative of great activity
with the enormous crops and the good
times. the big men Of Wall street be-
reve that they can maintain a bull mar
lket long enough to bring the pub
lie IN again. 70 enable them 10 dis
80 of much of their Burden For th'
fast few months II has been scalplnt
marFet-in and out win prchls' put lh'
real liquidation has been quite HtaN y
aud IL seems 20 be about over stilitOu5l
10 fear that some of the holdings o
The Kennedy estate may yet come on IN
market is hindering an advance ID I'M
Hills. c..
steel is still very strong. Some OF IN
GOOD houses on the Street are openL
recommending it's purchase on any re
cession and this is also true OF SInel'
ing. the news bureaus sending out new
20 The eject that a rise Is conhaehli'
ernected I'm IT, Neither is iar from IN
nigh records Of the year and new nlgl
records are predicted before IAS S,,,yy, %
ends Otf-vr industrials, notably Cope
cd Sugar were very firm, but the 80
eral list Of industrlals Qlo hOL HieINe III
advance the big g did
Best Foreign News
--. beet nous OF the DAY was the re
a,,ctton in the discount rate OF a.
Ranly OF England. This az once allaye
rybst p1-tle apprehension existed owe
,,ossible shipments OF gold 70 Europ
sn6 raised the belief that South Amerlc
might make her drafts for whaleVe
GOOD rniuht be needed on London u
stead OF New York ~ -.,
missouri. Kansas and Texas wa
among the strongest OF inc SeGolild-
stocks on reports or IIsLllg .t1l,,. a.,
NTH 81. Louis and San Francisco az
the advance in Mexican NatonaI Va
attributed u NOakum-HaWley pidh5 J,
making through traffic arahBeiheIi'
with lines beyond the internatlohal Do
wabash is said to be in the meltin
not. ready 10 make a flop from GouI
coutrol-one by one the leaves are ldl
ING Indications are said 10 be taFol
allie Tor the pouring into hands friendl
10 Tehigh Valley, thus paving the Wa
for another through trunk line to Oh
cago from this city.
New York Central reports It's GO
movement as the best in its history. I'll
American Bridge Company expects
mass all production records IN III
Brooklyn Rapid Transit earnings Il
six months have increased 125z per cen
TThus runs the news from day to day
and tt's hard 20 make the bulls loo
forward to any restraining action b
@NApgress.
The Gains.
Point gains were noted In Union n
cinc. Copper. Steel. Smelling. Suga
Beet Sugar. Rock Island. both con
mon and preferred; Pennsylvani
Northwestern. New York Central. ar
North America. Missouri, Kansas an
Texas rose "a. or 10 90 American Woo
a. rose ~ These were the big gain
or The first half Of the session, and the
were well held.
BANK OF ENGLAND