The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-25
CAUTION IN GUT TING
THE HILL MELONS
Harriman's Break Taught Pru-
I dence to Great Northern
n Financiers.
Special to The Journal.

Special to The Journal. go
New York, Nov. 24.-On account of
the howl which went up when E. H.
Hartman sprung his surprise in the
Union Pacific and Southern Pacific divi-
dends the Hill people determined to let
the news get out unoffcially and pre-
pare the public mind for the stipend
Gus announcement which it had to
make. The results have been crafty
ing. But it always happens that there
as some one ready to take advantage
OF good news and sell stocks as soon
as the facts are out. There are strong
suspicions that the Gates people have
been hquidating recently, and the right
people do not intend to contribute any
cash to the western bank account. They
have, therefore, suspended operations
Tor the moment, and so soon as the
Gates people decide to act with the
leaders, the advance will probably be
resumed Persons who have the han
ding Of large blocks of money for es-
tates and trust companies agree that
stocks are in the strongest possible
hands. Some Of the biggest loans in
the street have not been disturbed for
three years. There is no evidence of
outside interest in the market large
enough to cause a distribution of
stocks. These money experts believe
the market will 90 higher and will be
broader before there is any decline of
Importance. From the manipulators
point of view it would be wasteful to
let the market decline now. r..
Ist: Paul has continued to move I'M
der the influence Of aggressive buying,
which apparently is based on the ex-
recitation of some development in the
northwestern railway situation favor
ably affecting the St. Paul company.
A prominent western house appears to
be responsible for the movement in
louisville & Nashville, the strength of
which attracted light buying Of Nash
vile & Chattanooga, which, enjoyed
net gain Of more than 5 points at one
time. Some, authorities declare that
st. Paul stock is cornered' and that
if certain parties should "get in a
hole'' they might be forced to pay 800
for it. ?
st. Paul may not sell at 1000, as did
Northern Pacific on May 9, 1901, but if
the g deal' now on-and no one knows
exactly what it is, or who is behind
its driven to a finish, the shorts will
have to suffer; The shorts are suf-
fering lot at times, however, and the
experience will be nothing new for
them. There is stubborn short inter-
est IN this issue, but even stubborn
ness has it's limits. So far as is known,
the floating supply of St. Paul has
never been so small as it is now. The
rise in st. Paul preferred has been so
great that the g valuable rights' ex-
Pected are more than discounted. Again
y is asserted that Standard Oil buying
y responsible for the rise. This is as
good a reason as any other. Sure it is
that someone is buying St. Paul heav-
Iy, and that the buying seems good.
Reports that the property would ulti-
nlate!ly pass into the control of some
Hartman road were generally credited.
The Union Pacific report may prove
to be tremendous bull factor; also
that it will tend to throw some light
into several dark places where light
Is needed. Union Pacific $ friends pre-
dict that it is on the way to 200, and
that it will reach that figure before
the present movement is ended The
Investment holdings of Union Pacific
IN the Hill properties are believed to
be still of considerable amount and.