Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-09-06
SHOW|NG0F GAINS
AT MARKET CLOSE
Advance of From One to Four
Points Scored by
SpeciaIties.
SOME RAILWAYS RECORD
RISE OF HALF A POINT
Slump in New Haven Later Recov.
cred in Part-General Trading
Commonplace.

NEW YORK. September S-The stock
market closed strong.
Trading during today's half session was
dull and commonplace. and In many
active stocks there were no transactions
contributory cause of the dullness
was the holiday on the London exchange,
which eliminated foreign interest in the
dealings.
Of the latest developments in New Haven
affairs lent considerable interest to the
opening. The weakness of New Haven
and Steel threatened for time TO un-
dermine the cheerfulness which surround
ed yesterdays operations. Some of the
traders put out small lines Of stock.
These sales. however. had little effect.
Mondays report on the copper industry
reduction in supplies, which has been
foreshadowed by the advance in the
metal both here and abroad to 1G12-
cent basis.
Gains Registered.
Gains of i to points were scored by
various specialties today, but improve
ment Of the standard railroad stocks av-
eraged only about half a point
Bonds were steady.
The only movement of Importance at
the opening Of the stock market today
was the slight slump in New Haven, due
to the withdrawal of j. p. Morgan &
Co. as fiscal agents of tht board. New
Haven opened point of at 9Oa, and on
the next few sales declined to 80. On
succeeding transactions the quotation raj
lied to 9O5s.
Changes in the rest Of the market were
email md ravo01od trend
in either direction.
Reading and Copper opened slightly
higher, Union Pacific was unchanged and
Steel was Off Y.
shortly after the opening and the list
improved smartly, particularly after
supporting orders were distributed in
Steel and New Haven. Industrial issues
showed relatively more strength than
the railroad leaders. Copper shares
worked steadily higher and Peoples
Gas went up materially.
Market Summary.
Until the latter part of the week the
stock market declined steadily. A
variety of adverse influences combined
to depress the market and worked to
the advantage of bear traders, who met
with little opposition until expansion
Of the short interest led to a strong
upturn yesterday.
Railroad stocks were relatively
heavier than industrials, owing to the
poor showing made In the July state
ments Of many Of the large systems.
Grain and cotton carrying roads also
were affected by further reports OF ex-
tensive damage to crops from drought.
Causes Of Depression.
New Haven was under particularly
heavy pressure following the Walling-
ford wreck, and the coalers were de-
pressed by the governments suit against
Reading. under the antitrust law. The
outflow of money to the interior for
crop-moving purposes and the conse-
quent stiffening of both time and call
money also operated against the stock
market.
The success Of the Union Pacific Of
ferings of it's holdings of Southern
Pacific was q material influence on
STRENGTHENING the market when the turn
came late in the week. Copper shares
were benefited by the advance In the
price of copper metal.
Money on call, nominal; no loans.
Time loans firm; sixty days, 4 per
cent; ninety days. ~ per cent; six
months, per cent.