The Washington times., 1909-04-15
NEW YORK STOCKS WERE EASIER,
WITH READING STRONGER,
INDUSTRIALS SLOW.

NEW YORK, April 15.-2 p m.-Dur-
inC the last hour the market mas heiu
its own with considerable strength ana
with a moderate amount of business.
There were practically no changes or
Importance, while the two leaders,
Reading and Union Pacific, showed but
an eighth change. the former being that
fraction lower and Union Pacific an
eighth higher.
Although there was no material in
crease I'm the volume Of business, the
market was reasonably firm at the rul-
ing prices of 80 p. m, and not far
from the / p. m figures
NEW YORK, April i5-2 p. m.-For a
time this morning the market gave evil
dences of a stronger tone and some
vkry sharp gains were made. A heavy
selling by London, so noticeable vester-
day, was not in evidence today. and the
strength of Reading and other coal
stocks was used to give the market
q stronger tone. Before the noon hour
the whole list had turned easier. the ad-
vances were lost and additional declines
here and there throughout the rails and
fndustrlals.
The professionals have not liked the
looks of the market In the last day or
two. The difficulty with which addi-
tiona1 advances are established. the Nq-
uidation which meets the higher levels.
sll indicate that the upward movement
needs some favorable development to
turn prices into higher channels on
the other hand. it is admitted that the
bears haze hard work in bringing about
recessions, the latest strength Of the
market not encouraging any too much
liberty on the part of the bears.
Hard Coalers Lead.
The coal stocks are the features. and
Reading is the chief factor in the move
,nent. It is stated that the Reading Of
ficials have made their plans to segre-
gate their coal properties. entirely inde-
pendent upon the action OF the supreme
Court in the matter of the long-oelayeu
commodity clause. No possible SegIeed-
tion could be made that dld not re-
dound for the benefit of the snarehold--
ers. Moreover. there are eNloehCes " WOl
an accumula ton OF hard coal STOCKS OH
the assumption that taNoIdoIs al al
nOuncement was forthcoming lhliieul,,
afeIv following the announcements VI
the commodity clause decision
an the last few days there nave peer
some spectacular advances IN the marc
Coaiersi Tacla wanna rose another D
points yesterday, making over slUV
share rise in a week rJersey CchlId
made a good gain yesterday ana Ltol 5t
points today. In the case of Reading
confident predictions are made that tn
dividend will he raised to per cent
In Western Union yesterday s rise wa
attributed TO the chances for puttlni
the stock back on a 4 per cent basis
Then. too. there is talk OF re-estaolsn
Inent of Car Foundry on a 4 per cen
dividend basis.
The selling pressure In the stock lis
was materially increased in the nool
hour and the declines reached moderaU
proportions. with considerable pressure
the meanwhile Reading was firm but oi
>. The gains in practically everythin
else were lost -.
p Union Pacific, after selling to 1SSA
reacted to 1864 10 1878. a net loss o
a. Northern Pacific lost point I
1f3%. Great Northern back TO 49,
Missouri Pacific dropped back TO 90.
Southern Pacific X net loss New horl
Central lost a point Reading advance
TO 1928 and of TO l4lA-
Smelling and Copper were weak. LII IL.
lie Steel after a gain, lost the u ~
advance Cotton oil was q lower; Ca
Foundry, a