The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-10-21
HEARD ON THE BOURSE.

We do not look for any important
advance in the market at present and
believe that we are in the next to the
final stage OF decline or next to the
end Of the bear market.-Financia
Bureau
/ understand the Brit board two days
ago recommended that 4 per cent be
declared at an early date. AS Brit
dividends are laughed at in all quarters
the story may be true.-Ridgely.
There is a FIVE point rally due early
in the week. The short interest among
small traders, however is not large
nor has it been. Investors hang on to
their stocks desperately and that is
why prices keep on breaking. Insiders
are determined 10 sandbag them into
letting go then the market viii go up.
This is the situation-First, the
Morse Heinze-T Thomas interests have
been wholly eliminated from the New
York banking business forever by the
action taken by the clearing house
banks. Second, this drastic action was
necessary to clear the atmosphere and
restore confidence. Third, the only
banks affected by last weeks crash were
those involved in the operations of this
trio Of interests and the clearing house
will extend all the aid necessary to
them to avoid any further trouble.
Fourth, with this cleaning the most
! thorough and effective ever done and
an agreement among leading financiers
to support the general stock market
there is no longer any Hklyhood of any
further panicky conditions developing.
On the contrary in the opinion of
such leading bankers as Morgan, Schiff.
Stillman and Speyer there should now
be gradual restoration of confidence
in the future stability of the market as
we'll as in the general money situa ton.
We look for the market to con-
tinue weak today under influence of
the industrial leaders. We would not
care to advise the short side of the good
rails at these prices. We do recon-
mend purchasers to wait for few days
in the belief that they viii be able
to buy at considerably lower fgures.-
+ Town Topics.
/ Reading is good for an upturn. Buy
Atchison at market.-Joseph.
situation Is still confused and until
something occurs to clear the outlook
opera tons on the long side will in
volve considerable risk, while the ex-
taken place render the short side in
creasingly hazardous.-Henry Clews &
Co.
For the trader we still suggest buy
ing the active rails on good reactions
but sales Of industrials on bulges as
this group has downward tendency
Charles Head & Co
Denver & Rio Grande earnings second
week. october, s456,So0: increase, 500
4o0 From July l, S6.966. 500: increase,
sslS.oOO
Minneapolis. St PAU & sault ste
Marie, second week, October. increase.
ss,s9s
From July 1, decrease, $10S.266.
At the opening market reflected all
the confidence and strength shown in
London. such leading stocks as Read
ing and Union Pacific opening up two
points. the whole list improved to the
extent of a point of more. common
houses very generally reported that
their customers regarded the action Of
the clearing house as the one thing
needed to cut out the weak spots OF
the streets position. They found a real
disposition to buy and especially 10
cover shorts-Dow Jones.
High finance has overreached itseIf
in the copper field 1t is paying the
penalty. The effect Of the series Of
slumps produced by reckless and dis
honest methods should help to .-peo-
pleize" our great corporations AMI to
drive home the need of honesty and
publicity in corporate business. There
should be an end to the absurd talk Of
the resnonsibilitv of the national ed-
ministration for the decline in stock
values. Nothing that the administra-
ton has done or projected has threat
ened injury to railroads, mining. man
ufacturing, agriculture. or any other
industry. Whatever menace or cloud
there may have appeared has grown
out Of the practices of Hartman and
Heinze crowds" and Of disclosures OF
fraud. loot grab and betrayal on the
part of get-rich- quick swindlers IN high
finance.