The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-09-03

NEW YORK. Sept. 3.-Once more the
Street is in an excellent humOr with
financial conditions. The liquidation at
tcndant upon the return of Mr. Harri-
man. seems to have cleared the situa-
ton materially. closed out the weekly
held accounts and given relief through
the wiping out OF hugh pyramids Of
long stock. There were plenty Of buying
orders with the opening this morning.
but TO a close observer II was evident
that this buying was chiefly In the HaT-
Tirnan shares and in Steel issues a
new high record was established or
Steel common at 1885, and there is much
talk of middle SOS before the end Of
the next week. 1t is beginning TO grow
On the minds Of many investors that the
possibilities of this Issue are far and
away greater than those Of the preferred
shares, that the time must come when
the common shareholders will particip-
ate in the millions of earnings that haV e
heretofore gone into betterments and
Improvements. IL is even reported that
an increase in dividend is q probabil-
ltv of the next declaration. The re-
port that the corporation is negotiating
for the purchase OF the Pressed Steel
Car Company, finds many believers. II
Is in line with tho expansive policy Of
the mana cement, and at a time when
II would be a popular movement, as a
means to an ending OF the disastrous
labor difficulties in which the Car Com
pany Is now involved.
Foreign conditions, especially cheap
money and the knowledge OF American
prosperity have resulted in good buying
from London.
With the closing OF the exchange this
afternoon there will be no session Of
the exchange until Tuesday. All Ameri-
can exchanges will also be closed
Shorts in Steel common were very ner-
vOus. Specialists advise that there arc
and that they may be caught any time
Shorts in Union Pacific were covering
freely. Indeed. much OF the trading was
FOR the account Of bears getting out
evening up over the holidays
During the greater part Of the morn
ing there were but few leaders that
showed the undertOne of the list. Most
Of the usually active shares were NOV
ing within a narrow range and but
slightly better than Thursdays closing.
with the exceptions being Southern Pa
cifc Union Pacific, Pennsylvania, Della
ware and Hudson. and the Steel shares.
Late in the noon hour the list at
trected a little more attention. but the
market still moved quietly. Union Pa
cifc, which had risen a point on the
opening, lost its gain. and then recov-
cred a net = southern Pacific up a
point; St Paul q; Reading Z, and Penn
sylvania IL. The Hills were not very
strong. nor yet were they at all weak
steady
The new high record for steel common
was made just before ] o'clock-797s-
thus recovering all its loss and making
a new high IN short order.
Most OF the metal stocks were a little
better.
Entering the second hour OF the after
noon the list was strong, and rather
quiet.
The firm OF Freeman, Rollins CO.
failed and was suspended. The firm was
organized January IS. 1909. It has not
been especially active. although traders
recall large operations in Reading
around 100. but not much OF anything
since then. Perlev /. Freeman Is the
Stock Exchange member. Liabilities
are placed at $4,000. assets. 100000.