The Washington herald., 1909-01-28
MARKETS STRONGER
NONOtable Developments but
Trading Is Broad.
EASY TONE III MONEY HELPS
Prices show General Trend Toward
Higher LeveIS-GeneraI Business OF
Country Improves-sharp Advance
in Rio Grande CommOn-Harrim0n
on Central Board of Directors.

New York. Jan. ZZ-Although there were
to-day no such notable or relatively
notable developments OF financial interest
as there were yesterday, the stock market
was broader and Stronger than It was the
day before
This may possibly have been due tc the
stirring up OF speculative enthusiasm
among the smaller sort Of professional
operators by the contamination one after
another OF arrangements that have long
been the subject OF rumor and gossip
regarding changes OF control Of many Of
the country's smaller railway lines Il
is more likely, however. that the enlarged
activity Of the market and the general
trend toward higher prices was due TO
the cumulative effect upon banking and
speculative sentiment alike Of the con
tinuing plethora OF easy money. and Of
unmistakabIe evidence that actual invest
ment in the security market. and health
fuL II slow. improvement in the country's
business. are making progress.
London Influence Felt Little.
At first. to-day. the market was in
cliBed to heaviness under the influence.
seemingly, Of a moderate amount Of
selling for London. where the fiaring up
again Of the expiring fires Of the Balkan
war scare caused a moderate amount Of
Liquidation in securities. This selling.
however. was slight. and II became mani
fest that people in the local market were
inclined. If only fer the time being. 70
optimism.
A large advance rapidly occurred n
the Denver and Rio Grande common and
preferred shares. for which JEe only ex-
planauon offered was that the Denver
and Rio Grande would benefit greatly by
its receipts of traffic from the " estern
Pacific Railroad. whose lines are 10 be
completed during the present year. But
the general idea underlying the rise in
the two classes Of stocks was unQuestion-
ably that some change IN the status OF
the company might take place, similar 70
that which has already occurred IN vari-
Gus other OF The lesser railway Organiza-
tons in recent months.
Heavy Buying of wabash
There vas again large buying Of al the
Wabash securities. and there were brisk
upward movements in the Missouri Pa
cffc. Consolidated Gas, North American.
AIlis Chalmers, and American Car and
Foundry shares After an interval OF
duTlness IN the middle OF the day, the
strengh Of the market was increased IN
the afternoon, centering this tine upon
Rock Island preferred stock. and upon
all the Rock Island. and St Louis and
san Francisco bond issues.
The buying Of the bonds referred 70
was the largest that has taken place
IN these securities for very considerable
period. For that matter. the bond mar
ket as whole to-day was fun 0f mean
ing. as regards probable financial and
business unfolding.
Hartman on CentraTs Board.
Beyond a renewal Of talk about the
possible outbreak Of h0stilities I'm the Bal
kaas-to which little attention was paid
in Europe. and none whatever or this side
Of the Auantic-the announcement that
10000 more gold had been engaged Tor
shipment 10 Argentina. and the official
news at last Of the entrance Of Mr.. Har-
riuan into the New York Central hoard
there was LITTLE II the way Of financial
occurrence to-day 10 influence the stock
market one way or the other
But the statement that Hartman was
I'm fact to take a place upon the New
York Central directorate was naturally
looked upon as a species Of confirmation
OF various rUmOrs on the subject that
have long been IN circulation. and To
these rumors to-day was added 3 new
one. namely, that Mr.. Hartman was to
be not merely a member Of the New York
Central directorate, but IFS chairman.