The Washington times., 1910-02-16
MARKET VERY STRONG. BUT QUIET,
WITH READING AND STEEL
SETTING THE PACE.

NEW YORK, Feb 16.-Once again ths
trend OF the market was toward a les
sened volume Of business. save IN Spots,
with shade fr-ler tone following an
easier opening induced by a slowing up
in London Those who had the coUr-
age 10 bu- stocks at lower levels found
the profits rather attractive and were
prominent on the selling side. Some
bears who covered their contracts last
week were courageous enough TO at
tempt another operation on the bear
side. & good trading market IS about
the best expected in the near future
#, as predicted, the Supreme Court de-
cisionS in pending trust cases Is post
poued for some months, there may DE
better buying. but the near coming Of
the decisions viii bc a signal for less
euinE of a buying demand
London started with Il point decrease
II vas helped by the advance Of 81
points in Sterling exchange Also by
some American profit taking IN the Lon
don market Copper stocks were heavy
In sympathy with the market on this
side
The action in Reading this morning
was especially strong, with an early
loss OF 4 and a subsequent net advance
Of nearly . points It was reported that
the First National Bank crowd we're
hack Of Reading and that bunch Of
beIated shorts were doing their best 10
ger out thereby aiding the advance
There was also good buying Of southern
Pacific but II did not display the firm
front shown IN Reading or other strong
stocks actually going on a fraction
The best strength of the day was in
The Southwestern group. Gould and
Havlev shares. Katy moved UP a full
point Missouri Pacific =. and Chesa-
peal & Ohio fraction
Morgan Goes Abroad.
J. p. Morgan sailed this morning for
ENGLAND Traders showed a disposition
20 sell steel common rather more free
y. holding that conditions IN the trade
were not rs encouraging as they had
been. The market took their offerings
in splendid shape and rallied for a
point advance. The stories II decreasing
trade are said 20 have been greatly ex-
aEEerared Just why lTr. Morgan has
gone to Europe is not q matter Of pub
lie kuOUleuEa- He has the habit Of slip
ping away now and then. as pleasure or
business dictates
Some Of the iudustrfa1s showed good
tone Car Foundry locomotive, and
other equipment stocks showed a better
undertone- The better bond market IS
expected to absorb forthcoming railroad
issues. and numerous equipment orders
viii result
American Telephone and Telegraph
was rather heavy. The decision OF the
lIackey Company to sell IFS holdings in
this corporation. in Difference To public
opinion. IS taken as likely 10 Increase
the floating supply of the stock but Z
is not likely that the syndicate that
acquires the stock viii throw II on the
market
Through the noon hour and well into
the second hour Of the afternoon the
ma rEa- acted well. with an eveT-lelgen-
Ing Volume OF business dull and strong
Reading continued to be the pace
maker. and it did not stop until IL had
touched 7rS-s. or ~ points above the
opening and "a net gain for che day
The stock held strongly at the advance.
Union Pacific moved up to 1855. a gain
o. g. and Southern Pacific finally turn
eG slight loss 20 q small net gain
Most Of the rails moved uu fractionaily
in sympathy with the leaders
Steel common added a small fraction
70 its advance, holding around Ie7s-