Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-08
READING MYSTERY UNSOLVED
No Explanation Of Alleged Buying to
Obtain Control Of Railroad.
HARTMAN DENIES CONNECTION WITH IT
stock opens Lower and Volume of
Transactions only About One
Third as Great as
wednesday.

NEW YORK, March THE excitement
in financial circles caused by the heavy
buying Of Reading shares yesterday, said
to be for the control of the property died
out today and the market resumed its gem
orally weak tone. No explanation of the
Reading incident was obtainable officlally
today. but the denials Of Hartman inter-
ests that they were in any way connected
were, generally accepted in Wall street
and spectators were moro inclined to the
opinion that the buying was for n. c.
Frick. 1t has been reported for some time
that Mr.. Frick sold out a considerable
portion Of his holdings around $50 and it
was held to be natural that he should take
back his stock at the low prices of the
last week. It was noticed that lbs seemed
to be the price limit at which the heavy
purchases were made yesterday, and this
fact was used as an argument against the
reports that stock was being taken for
control. In the contest for Northern Pa
ciho the shares were bought practically
without regard to the price. Reading
opened today at 122, or 2ih points lower
than last night; the highest was 124ss, the
lowest 1ls% and the last sale was made at
1ls. The sales were 231,9OO shares. Yes
terday 7S6,5OO shares changed hands.
Market Opens Nervous.
Sentiment in Wall street was rather nerv-
Gus at the opening of the stock market,
traders being anxious to know whether
there was to be continuance Of furious
buying of Reading, which caused such a
furor and such abrupt change from weak
ness to strength in the general list yes
terday.
Without confirmation OF rumors that pur-
chases were made to obtain possession of
the property, spectators were inclined to
regard the situation less favorable for a
broad upward movement Of prices and the
| first transactions recorded by the ticker
were almost without exception at lower
prices. There was a quick upward turn
to quotations soon afterward. but this was
soon followed by sharp reaction and then
another rally. From II o'clock until we'll
into the afternoon prices moved In an
uncertain manner, the reactions being fol-
lowed by rallies, but with the general ten
dency toward lower prices A feature OF
the trading was a renewal of the attack
on what are known as Morgan shares, Erie
| and Southern Railway being the principal
sufferers. Erie fell to below 30 and South
ern Railway to below p. There was no
news to account for the loss in these
stocks. At one time the Hartman proper
ties showed a very strong tone. Union Pa
| cihc getting above 16S and Southern Pa
cihc rising TO S7A. These figures were not
held. however, and the whole list turned
lower again toward the. end of the ses-
sion. The closing tone OF the market was
very weak. with the more active shares
showing the Following declines from yestsr.
days last prices: Reading SIS; Louisville
/ & Nashville, Union Pacific, 49, st. Paul
! rs; Great Northern preferred, 2; Chesa-
peake Ohio, Sa. and New York Cen.
trail 1A.
! There was none OF the excited trading OF
yesterday during the days sessions. Total
sales for the day were 1,4OO7OO shares
against more than 100000 yesterday.
MaRnntes NOncommittaI.
| J. ]. Hill was asked to express his
J opinion concerning Reading matter.
| Il know nothing about Reading and
| don't want to know anything about It,
he said.
e. H. Hartman arrived at his office
shortly before noon.
Don't ask me anything about Reading
he said. Don't place me in a position
where 1 have to talk about that. 1 don't
want to say anything about it,
Mr.. Frick was met on his way to the
meeting of the Union Pacific executive com.
mittee. Asked about the alleged deal In
Reading he said:
II know nothing about Reading except
| that II is a pretty good road"