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Show STABILITY OF STOCK PRICES SEEMS ASSURED Brokers Invite Their Customers to Buy Before Levels Rise; New Leaders Appear in Persons of Reid and Baruch. Bv Thomas C. Shotwell. By International News Service NENY YORK. Sept. 17. Action of the slock market today was such nv to suggest that the time has arrived for making purchases. The trade positions were strong and the technical condition of the market mar-ket Is so safe that If there ever was a time when stocks could be purchased with assurance and held regardless of immediate. MucUiatlon now Is the time. Some of the most conservative houses abandoned all restraint todav and Invited In-vited their customers to tako at least some stocks, fearing that unless they did so they would have to begin making purchases at a high level. For weeks Wall street has been waiting for a leader. Daniel G. Held has been I he man they were waiting for and It now appears that Mr. Reid has beon leading lead-ing the market from abroad. B. M. Baruch got the credit toda.y for tho demonstration that was made and circumstantial evidence confirms the numerous reports of his activity. Bo-cause Bo-cause of his past record of having good judgment in a speculative crisis, tho reports re-ports of his buying caused heavy covering of short sales and also free buying for Investment account. Confidence in-Leaders. - The big bankers express their "willingness "willing-ness to follow the leadership of either Baruch or Reid and as both oi them seem to bo of the same mind the market swing that gained some momentum todav had every appearance of going farther. It was the buying of Steel In particular that attracted attention. Great blocks of this stock were taken openly for what seemed to be brokers of the two leaders. Union Pacific. Reading. Canadian Pa-Oblflc. Pa-Oblflc. American Can and National Biscuit Bis-cuit wore taken by the same Interests. Lehigh Valley was ciulet, but advanced with the others. This buying, which suddenly sud-denly began shortly afton noon, started activity in all quarters of the market, so that .the business was well scattered, the number of transactions being greater than for weeks and tin numerous securities securi-ties being greater also. Close Is Firm. The close was at the best figures of the day, showing net gains of a point or more In the active Issues, while Steel, Reading. Union Pacific and Biscuit showed more than two points.' Action of the Westinghouso directors in declaring only 1 per cent on their stock for the quarter was a surprise to tho street, for It was known that several of the directors had told their friends that the stock would be put on a 6 per cent basis. The stock broke four points and did not recover, but the outlook for tho stock Is so "good that there was good buying and traders have more than a. suspicion that the dividend will be ln-creased ln-creased at the next declaration. |