The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-30
GOSSIP or WALL srRErr.

$3.50 .ee was no large quantity Of weakly
E y. SIOUX hanging over the market. A on
n,Iuay talk was Tor the most part about q
western house the identity of which no one
soemeo 70 know. but In a few places mention
res made OF one or two traders the condi-
Sion Oh whose affairs could never be more than
q very transitory factor in the business Of
wNI street. Undoubtedly individual Gus
toners OF houses have been hurt and such
are apt 70 zrasp opportunities to liauidate on
rallies 30 as to escape In the future anxieties
IKE those they experienced in the last week.
II IN addition one or two operators should
De oongcd TO pay the penalty Of overtrading,
the street a. a whole will be none the worse.
Expectation OF a very favorable bank state
ment was not entirely fulfilled. although the
presentation was not by any means a bad
one. It's least satisfactory feature was the
Increase Of upward OF o., 200, 900 In the loan
account. which was expected to show q
shrlnkage as a result Of the liquidation in the
stock market during the week. The ex-
pLanation OF the expansion in this item is
PROBABLY found in the transfer OF d number
OF loans from Londo TO this side as a result
OF the comparatively poor statement made
oy The Bank OF England and the steps which
the managers OF that institution have taken
70 strengthen Its position. II has been known
Tor some time that q number Of loans OBJ
tanned abroad bv New York operators were to
~ 1boot w II OI II year Auu u = u
result or the discrimination now practised
In London against American collateral these
have to be provided for at home. -
st. Paul-the railroad company has
provoked more profanity In Wall Street"
said a usually dignined broker. than ever
satan would be willing to stand for"
The Dutch investor who owns a share Of
81. Paul. which he has paid for but has not re-
mnUad frann tha AN0&l.un .1Ln- ANQAa
which collects his dividends and looks after
his privileges. will find Il hard to understand
why his share does not get the same kind OF
treatment that Ia given to the holdings OF
large interests. His opinion OF American
financial methods is not likely to be improved
by what he can hardly regard otherwise than
as a "freez eout."
Contrasted with Union Pacific. Pennsyl-
vania showed decided strength, and the belief
gained sround that certain large interests
which were prominent In the bulish opera
lions In the former during the year have now
turned to the latter as afording the best
opportunities for profit on the side of higher
prices. Apparently u Ia taken for granted
that a movement could be made in Pennsyl-
vania even IL the testimony in the Interstate
Commerce Investigation Of Union. Pacific
and its allies was of a kind to restrain specula-
ton In the so-called Hartman stocks. Penn
sylvania has had no rise OF consequence in q
long while. although the effect on sentiment
of an important movement in the stock of
the premier railroad Of America could hardly
fail to be considerable.
IL 10 notable that Southern Pacific has
acted relatively better than Union Pacific OF
late. In the break about three months ago.
when Union Pacific dropped to $780, Southern
Pacific dropped to 90, but on the present occa-
sion. as on the one earlier in the week. South
arr Da,tAo haa halA AZ o. ~hAp VTpian hroEa
we'll below I7s. The difference in the action
OF the stocks is probably due to liquidation OF
speculative accounts In Union, this stock
having been much more OF a favorite than the
other with the trading element.
On the subject Of the attempts to limit rail-
road rates by law the weekly letter of a con-
sentative house says: Rates ought to be
limited by competition and therefore bona
nde competition should be fostered in every
possible way by all good citizens. but rail-
roads will not be well run unless they are
profitable. nor unless they are profitable will
the necessary capital to bring their capacity
up TO the demands Of a rapidly growing popu-
lation be found, and therefore whether the
we'll meaning allies OF demagogues like 1t or
not any successful attempt to make railroad
rates lower than Is really profitable must re-
suit In the business OF the country not being
done. In such a case IL would not be only a
few scattered communities who would hnd II
difficult to get coal. but the big cities OF the
country would rapidly run snort OF both coal
and provisions.
go, 1u, .anonn.,,x ~. ;,..r.,or. 30
-. 80 49, nrs.iS.ncv 90 tha crss, Moth.
- pan~av ~ III = 49,. hs hs. comnIa,ad
~ nsa-a rhis 10. 80 scnon,sd in soms
NJ 49,. a. IS intiraa,Iop tha, c.raa,
venS".. ..noLhaid.rs w.. rscaiy.d thsir
~. r.ainn Sroh . cnncIus,or doss No, .esm
- y. III ,rs,ja.d NJ uiJI q. stiI, strong
,eau. snd - a. syt,sm.,v ,mnrohahI n
80 s~erIS -a,ir. a, h. Ala No, ,.sI snrs ,hat
a. - IL =, ~. ~ ,hs ,o.d couId msintain
nS"e.n-s -Sioh 49, nj. own dIrac,ion i, h..
-. a. ~. L.. aw.r,ar ~, cartrry Tha
go. Nor.h.rn a. no, tha rind ~
pnSa.." ~. ro',id r.,irs nndsr Are and The
l.ne.aa ~, ~ iii rs,jnouish ,hs sc,i,s
msS.n.,n.U, ., ~. 3d. amsir. merit summer
nsnnt.naamn, 20 an sssnr.nc. that he ernects
Tn...-. ..ia.jna 80 ~. nronosad csnjr
S s."1 nnnnStmr.s and ths sn,rancs ~ other
10, 10 49, ..rrt,orr hsrsto,ora sIcInsivelv nj.
LIE mn IN ha 'c,ssrsd nm bv tbat time
-
az. $500 81 paul and the nm roads
ISL snN ~. ,s-n.r s,tsr.ion 20 The pscIoc
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