The Washington herald., 1906-10-24
WALL STREET NOTES.

WALL STREET NOTES.
New York, Oct. z3.-Hardly a rumor Of
consequence was heard about partieu-
lar stock to-day. all the stories Of pros
pective deals and dividend increases being
apparently laid away. to be taken out
brushed up. and made Dresentable at a
future time as their influence may be
needed. The reserve stock Of this kind
is now quite large and when paraded,
as 1t viii be by and by, is sure TO make
q strong impression on popular senti-
ment
The great Northern and Northern
Pacific melons are still uncut, though
ripe, and there is believed 10 be some.
thing of a similar kind in store for
Southern Pacific stockholders. The final
disposition OF the Baltimore and Ohio
stock bought from Pennsylvania has not
yet been disclosed, although in a general
way it is believed that control of the
property VIII turn up IN the hands OF
! Union Pacific These and other interest
/ ing developments viii come at the proper
/ time.
Apparently on authority the statement
3 ~ lltdut AiitA FilllfN " AHA ulu iiti re-
cciYc full payment in cash for the Bal
timore and Ohio stock which i; sold
some weeks ago. A good part Of the
price, il is said, was paid in securities
/ of various kinds. The statement Is
further made that these securities are Of
such character as 10 strongly indicate
chat the stock bought has already passed
into the possession of Union Pacific
which not having cash available put up
col lot e. l. u
when the final financial arrangements
are completed
William N. Imbrey had an order to sell
$4,000 shares of Steel common, which he
executed for the most part in 5.000-share |
lots, Of which four were taken by j. J. /
Manning
The latter is large trader. and it is 1
supposed that the stock taken by him /
was for his own account but opinions l
differed widely as 10 who Mr.. Imbrey's /
principals were in his very large selling 4
transactions. Some of the traders at I
tributed the selling TO important inter /
ests'
During the afternoon tie buying Of steel /
became so good as 10 attract general at !
tention. which called to mind the /
i't'A AilAN Alit AdSl llrt WIS 4Alttut III IT, ]
Spouse To the completion of the ore deal. 1
the effect Of which has never been fully 1
discounted. rather than the expectation 1
of an early increase in the dividend, /
which never had much prospect Of real /
izatiOn. With the steel corporation thor
Oughly well fortified in the matter Of a |
supply of rich ore. the position of its
stocks becomes stronger in Wall street
than ever before
The name Of Mr.. Prick which has been
mentioned in connection with almost
every important buying or selling move
ment in steel this year. was hardly heard
to-day. II has always come so handy 20
the traders that the won0er is they dis
regarded it in this case.
The broker who Was the heaviest stIle~
Of steel common sold a good deal Of
Amalgamated Copper. which he offered
down, encomtering little opposition above I.
lI3, Notwithstanding that the stock will
sell eX-dividend tomorrow. The specula-
tive bun account appeared TO be large
and not very strong. while the interest, 50
far as could be Judged from the fact that
the stock loaned at a higher rate than
most others in the loan crowd. was OF h
comparatively small dimensions. In spite
of the apparently UnfavOrdble technical \,
position. however, there was good rally I
in the afternoon. and the close was in
contrast 10 the early weakness.
Mexican National first preferred stands
pTe-eminent as the stock which i'm the
past few weeks has made and shown ,
ability TO maintain under not very favor
able market conditions substantial rise
without the ala or any particular news {
beyond the continued increases in the
monthly earnings Of the road. Speyer &
Co. never had any misgivings about the u
future Of the property. and never CON a
cealed their belief that the first pre- 2
ferred would eventually turn up a trump
The fulhllment Of their prediction seems
to be in sight.
Commission houses which would have
welcomed anything that brought business {
were disappointed over the plan 10 in
crease circulation. which. from their point
of view, was inadequate. that is. as
stimulus TO speculation. and which in
any case could produce no immediate ef o
feet. because the banks would first have
TO provide themselves with the neces- 2
sary bonds for use as security and ar }
range Tor the printing OF the notes. in
volving quite a little time
The law has set limit on the speed d
with which the banks may reduce their
circulation. the maximum reduction by D
all the banks in the country being s.. OC0-
COO month. but in allowing the retire r
menI Of the proposed emergency circula- q
ton between March i and August 10 o
there seems to be a disregard of the
situation which reminds one OF the
boast Of q lawyer once prominent
in British politics that he could
drive coach and four through u
any act of Parliament" The point is. Il
Of course. that while from date to date n
the period is only about five months. the a
time runs into six calendar months 81
Announcement was made to-day by J. / 2
w Henning. whose suspension was posted "a
On the stock exchange yesterday. that he y
has made arrangements to resume bust l.
ness at once. My friends have come to Il
my assistance, and as soon as the neces- q
Sary formalitics are gone through with. %
shall resume business" was the state
nent issued by Mr. Henning.
NEW YORK GRAIN.
New York. Oct. 23.-Cash markets: WHEAT u
Trade check hy light offerings No / Northern Du- 81
nth, to arrive Oake and rail-. cents over Deem
1cr @. b.; No. ! Northern Manitoba s5ls late n
November Ne. Northern Manitoba, s3ls, late 7,