Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-09-28
ALL IS LOVELY TODAY
Stock Market Goes From
Strength to Buoyancy.
SOME RECORD PRICES, TOO
No Sequel to Weakness in New York
Yesterday.
RAILROAD STOCKS IN LEAD
Visible Buying and Important Bust
ness Activities Are Behind Up
ward Movement.
Specisl Dispatch to The Sta,

NEW YORK, September 2S-A stock
market of more definite and positive char
acter than had been witnessed for almost
a fortnight was furnished to Wall street
today The weakness which appeared in
yesterdays final dealings was without a
sequel The opening was generally strong.
and throughout the forenoon the list pro-
crossed from strength to buoyancy In the
midday transactions.
In the early part of the afternoon trad
ing was very active at the highest prices
of the day and. in fact. at record prices
in some instances. Atchison and Penn
sylvania, among other stocks, sold at new
high post-panic records, and United States
Steel common continued it's hourly per-
Torrance of reaching to record levels.
There was very little to be cited
which could account for the changed
appearance of the market. There was
manifest improvement In sentiment
In the morning, because yesterday
price movement displayed a better
sentiment. however. was only factor
in determining the operations of the
trading element OF general commits
sion business there was not only no
mon statement of commission houses
that they were not getting any busi-
ness. Pools of one sort and another
and professional opinions were very
largely responsible. no doubt. for to-
days transactions and course of prices.
Nevertheless. the market must have
owed its strength to much more than
the visible buying. and In some stocks,
notably Atchison. Union Pacific. South
ern Pacific. Pennsylvania and the
important interests was. II not self
evident. at least a legitimate inference.
Another thing which the market show
ed by it's increase in activity and
broadened out. was that it responded
better to railroad than to industrial
leadership This statement holds true
despite the important influence exerted
been consistently strong for the last
ten days. but it seemed to require the
movement of significant railroad stocks
TO stimulate the list in such a way as
today.
Atchison q Leader.
Atchson was one of the conspicuous
leaders 1t advanced more than three
points in the first three hours on very
heavy buying of a kind that was called
good by those who observed it closely.
The whole Hartman group Of railroads
manifested a general vigor, which has
been noticeably lacking Of late, and gain
gu dDoul Two pOllltS UT more ny the IOTo-
part or the afternoon. Pennsylvania ad-
vanced impressively; Reading was con-
sistently strong and the Rock Island
issues rose aggressively.
All the Erie stocks made sharp gains
and their course was In decided contrast
with the weakness they displayed yester-
day. There were few noteworthy lag
CARDS in the railroad quarter or for that
matter in the industrial department
Amalgamated Copper acted peculiarly, de-
clning about a point and a half in the
morning and then scoring an advance OF
equal amount by the early afternoon
in general industrials were not az
strong as railroad stocks. but the indus.
trial list was marked by features of con-
spicuous strength such as Republic Stee
and American Cotton Oil. Elsewhere also
sharp gains were scored by specialties
Atlantic Coast Line rising about five
points on three small sales, and Pacific
Coast making a substantial advance or
limited transactions.
Railroad earnings were about the only
items of intelligence which were men
toned in connection with the course OF
prices. Chief among these exhibits was
the statement made by the Atchison yes.
terday. Other reports made public today
also rejected the great improvement
business.
A Deficit Is Shown.
The New York, New Haven and Hart
lorO showed uenclt a1ter OlV1denoS Tor
the fiscal year which was more than
S2,O0OOO0 less than the deficit last year.
The Louisville and Nashville reported an
increase In gross earnings for the third
week in September of $42, COO making the
increase since July l. $66S. 600. A definite
statement was made during the day that
the Pennsylvania railroad had placed or
would shortly place its steel rail orders
for 1910, and that these would aggregate
100000 tons, an increase of one-th:rd over
this years quota.