The evening world., 1906-05-28
's7emeIT Houses
K4LLSzREET
MONDAY Nav %

II the story from Philadelphia that
A J. Cassatt was to be forced out OF
the Pennsylvania Railroad presidency
to make way for George F. Bae was
sntended TO bull Reading and bear Penn.
sriyunia IN this stock market. the
origsnators OF the story wero only part
ly disappointed. Reading stock re-
spouded with a~lacrity TO bullish senti-
mont, but Pennsylvania stock refused
to be "beared.' Reading repeated Its
star performance OF las; week. loom
ing large and lusty as the market lead
er. Starting at 1875 5-s. this stock was
boosted TO al 81 by the heaviest kind
Of buying. Single purchasers took as
much as 1000 shares OF Reading com
mon NJ n time. The WaSsermann
Bros. as usual. headed the Reading
phal-nx. which included Alfred Gas
parry, Charles G. Gates q Co, IL. Con
tent. Provost Brothers. Post & Flagg.
Marshall spader and Henri Brothers.
AT Tho close OF the days trading the
belief prevailed among the active
brokers that the floating supply OF
Reading was quite limited.
Pennsylvania shares CAV no indica-
ton OF weakness. on the other hand.
they showed aggressive strength In the
first fifteen minutes. wheh the rest OF
thu market was wobbly. There was
evidence that ST. ng banking interests
were s,rpor:i mis- stock. Wall street
pad smlli heed to the story-attributed
to "one OF the largest stockholders OF
the Pennsylvania sys,em"-that because
OF George +. Baers success in building
up Reading ne would soon be placed al
the head Of the Pennsylvania lines.
President Cassatt's friends shrugged
contempuoIs shoulders when this yarn
was repeated to them There : a ira
dtuonal belief in Stock Exchange circles
that President Cassatt is more strongly
%intrenched IN MS position than any rail-
road president Ia this country Wit the
exception OF James J Hin. OF the Great
Northern. British investors mold about
20 per cent. OF tie Pennsylvania Rail.
roads capital stock. and ;aey are be-
lieved TO be solidly behind Cassatt The
Vanderbilt and Morgan interests are
closely Ifhliated with Pennsylvania and
are exceedingly friendly 10 Cdssatt. and
the latter is himself a very large holder
OF Pennsylvania shares. The Rookie
fellers boug II u large block OF Penn
syivanla stock because OF their conii-
deuce Ia President Cassatt ; ability. in
tegrity and iag-sisntedness. In view OF
tlese and other circums ances al
stree. men ask cacn ether, Who Is
there. TO turn C'ssatt out Of office
\ sharp movement in American beef
Sugar stock was due primarily 20 spif-
tied buying by jacob Field and ono or
TWO other brokers early In The forenoon
This stock closed nj ~ IS last saturday.
and TO-DAY the price was quickly rushed
w % y ~. There was no particular
news TO account FOR this squirt aside
from the fact that the markets Tor beet
sugar both here and abroad are strons
ana steady,
brooklyn Rapid Transit weakness Was
sttrtplted to thu great falling on Ia
bad weather. Somebody has supplied
Wall street with tiguya showing that
y rainy Sunday or a rainy holiday make
, a difference OF about 10000 In the com
control Brooklyn Rapid Transit are up
p~arently paying little attention TO the
market position OF the stock just now.
Additional importations OF gold are
looked for in the Immediate future,
Sterling exchange developed a heavy
predicted that New York would soon be
taking gold from both London n
Paris. Merchandise trade balances CON
tinuc TO show In favor OF the United
States. and this fact. IN conjunction
with he payment Of San Francisco in
surnucc losses by British companies
and the Notation OF the Pennsylvania
Railroad oar In Paris. afford ample
ground for expecting renewed shipments
OF god h this country. The flow OF
cash TO san Francisco from the East
has practically ceased. and there are In
dicatious that the san Francisco banks
Will soon transfer considerable sums TO
New York Persons who have some
knowledge of the supply % gold coming
down froH. tho klondike assert that
fully s.t.0o1.0O0 OF the yellow metal VII
reach Seattle ard other Pacific Coast
points this summer
There is "a disposition In certain quar-
ters 10 bun Paciic Coast Company
stock on the prospect OF the extension
Of the Union Pacific system 10 Seattle.
Pacific Coast shares are now selling AT
their record price and some Of the en-
thusiastc hackers OF this stock eXpfc,
that Hartman VIII eithc buy tho prop
crty or make a Close connection With It
Large and valuable terminal facilities IN
seattle are owned by the Pacific Coast
Company. which also has about thirty
two steamships In operation II is
stated semi-oitcilllv that his COM
pany's extensive real estate holdings or
the PGcinc Co VI navc Increased m value
~ ,.Av -.nf ysff1aNv Two Last srAuv