The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-03-31

a rule there was little Improvement in
volume of trade.
NEW YORK. March 3l.-1 p m.-The
stock market started with the speed Of
quarter horse and came 10 a full stop
within half an hour. after tins manner
of the one Horse shay, except that it did
not go to pieces. But the advance was
checked even while great strength was
shown, and the upward movement that
in its start gave promise of setting a
pace hard to follow was checked sud
denly and fer the rest OF the morning
hours. although much of the advance
was held with great tenacity
The higher prices made strong spots
on which stocks were sold, but at that
there wasn't much liquidation. just a
modest proft-taking that caused a
reaction but only a fraction of the
earlier advances were lost
For all the let-up the market was
decidedly to the liking Of the friends OF
higher prices, and not inviting to
shorts. The best stocks on the list
showed the greatest Improvement. this
being another feature that was favor
ably commented upon. The Harrimans
did well, the Hills were close seconds,
and the GOuldS were barely STEADY
Reading moved up very sharply. II IS
understood that the various roads that
might be unfaVorably affected by the
commodities clause decision have
made their plans To meet an adverse
verdict without loss The Pennsylvania
companies can sell their coal at the
mines or in Philadelphia, the Virginia
companies can deliver and sell coal at
tideWater and thus avoid any trouble
with Uncle sam. The latter has no au-
thority over transactions within the
limits of the States. except in interstate
commerce.
Gates Caught in Steel.
a story is running the rounds of the
Street that John w Gates was caught
short in United States Steel common.
If it is true ii is but a repetition of
former speculative efforts of the erst-
while plungcr. He is said TO have taken
his losses and settled yesterday There
WAS strength in the industrials today,
the whole list, strength but no activity,
and scarcely any Improvement over the
ruling prices a. the close yesterday. The
stories that come from various steel
ccuters are OC increased business and
oncOuTa cement over the outlook other
industries are showing some hetterIuent,
hut the Improvement. the real improve
ment, waits OF the passing of a tariff
bill. and the indications for an early
Passage are not encouraging.
It is interesting to note the statement
States Steel Corporation since its incep-
ton, April 1, 1901, TO December 81, 1908
The net earnings of the big corporation
IN that time were 1929, 65S. 334. II has ex-
pended during the same term $780, 600
for repairs and s259, 497, 9S3 for new con-
struction, including Gary, Ond.
The Bulge.
Union Pacific started at 1894, rose 10
5s4A, and eased off 4, becoming steady
and slow St Paul moved up a point
to 14S3s and dropped back Y point.
Reading started at lbs 10 1345s and sold
to 1861, eased to 1876. rose to 1864 again.
and was just moderately active around
136d1261z. Northwestern point higher.
New York Central gained q net 70
1901 Chesa peake and Ohio. Brooklyn
Rapid Transit, and Baltimore and Ohio
were each about = point uD. Southern
Pacific made a new nigh record at
1895. Northern Pacific was slightly
higher, and Great Northern, with Hi
nois Central barely steady.
Steel common. 4Sh 10 IS TO 4SA. Pre-
ferred. 1127s. Chicago Gas was very
strong and nearly 2 points up Lead
was a leader. It opened up p and rose
from s. to So, but lost 4 of the late
gain. Shelter was slightly frmer. LO-
connective 2 higher. General industrial
list slow