The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-04-08
BROKERS PRAY FOR
AN EARLY BOOM
While Investors Watch the Coal
Strike and Higher
Money.

Special to The Journal.
New York, April 1.-THE attempt of
/ stock market manipulators to create g
i spring boom touches a responsive chord
i in financial circles still tied up in re-
cent underwriting, to say, nothing OF
. in mind Thirty per cent money has
/ again checked railroad and industrial
opportunity to place millions Of Sc
curities upon the market, prominent IN
/ this respect being, the New York Cen
trail, the St. Paul and the Pennsylvania:
+ At the present time a $50,0O0,OO0 bond
| issue is being uns erwritten by the Hud-
son & Manhattan Railroad company,
Il which is constructing tunnels under the
+ North river. =. :
For some weeks commission house
1 sentiment has been decidedly conserva-
L tive, with the result that outside bust
i ness is small factor. Customers ac-
]. counts have been scaled down in con-
uary boom, by fully one-half, this fact
/: being indicated by the reduction in
loans Of leading houses: The salts
factory outcome to the Algeciras con-
Il ference, which threatened to disturb in
i ternational equilibrium, facilitates re-
s. turn Of confidence, while the early adj
d journment Of legislatures makes in the
same direction.
Large operators fresh from their win
II ter recreations have been taking on
4 lines Of stock in the expectation Of
si turning them over at a profit after the
q April disbursements find their way into
circulation. The light-heartedness with
Z which speculative plungers have gone
3 ahead in their plans regardless of the
q possibilities of a check to business,
would indicate that this element does
mot take the coal situation seriously.
3Their confidence is doubtless based
siroads have some 100000 tons stored
sufficient to provide for the require
1nents of the next few months. The
uptown clique of spectators look for
! affirm market in the Immediate future,
with substantial advances little later
on. - -
1.-THE Hartman issue; arc more in the
public eye at the present moment than
any other group. largely because of the
earning capacity as shown in monthly
sreports. While, of course, February is
compared with the 6 very, unfavorable
climatic conditions for the same month
IN 1905, the statements given out by
Union Pacific and Southern Pacific this
week were of a flattering character.
Thus Union Pacific gained 1899, 1872 net
and Southern Pacific 1868, 232. While
sCUHGt AdlSISi>b SlFCS llLlIc
Sdencas fEei1Ig moro kindly disposed to-
ward the shaTeh olde7's, thereEh has been
considerable 'hrying for Investment on
- the theory that t'melons would be
cut this wear, The action Of Southern
Pacific. in view OF it's large earnings,
has been :docidedl'- Disappointing, it
ranging between S. and 70, but in
variably meeting long stock when it
crossed the latter point. - y
InEv;cw of the action at the Indian
apolis convention, whereby miners in
the bitunlinous districts, who are offered
IL the 1908 scale, will be allowed to con.
stinue at work, and in view of the strong
position of the anthracite operators, tbs
entire coal. labor situation is vieWee
with much less Eapprehe nsion by, meI
who are familiar with the entire matter
than at any time since the agita ton be
tween the miners and the operators be
gan. From present Indications the btu
s1nlnous strike cannot be effective ex
SOC cept in certain sections A, pronlinen'
railroad officir!, who is in town say.
that not only will the strike be brokei
up in Pennsylvania and central western
districts, but that the miners in Color
ado and New Mexico will be in no wa,
affected because the union has lost it
hold almost entirely both in Colorado
and New Mexico. Colorado had it's con
fest with the miners union two or tire
= years ago, and won a complete victory