New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-07
READING RALLIES LIST.
Continued from first page.

cononon first and second preferred shares. In
1904 the Baltimore & Ohio and the Lake Shore
sold each $3.50 900 Of the common stock, their
combined holdings being thus reduced to $780,
$4,000, equally divided between them
Y. p. NEEDS NEW YORK TERMINAL
Mr. Hartman, through his recent purchase Of
Baltimore & Ohio stock from the pennsylvania
through Kuhn, Loeb & Co.. has acquired an in
tarest in the former property substantial as
to make it the common belief that he practically
controls that road with the concurrence OF the
PENNSYLVANIA. in the councils Of which Mr..
Prick is a potent figure.
1t is the general understanding that Mr. Har-
rinan's plans contemplate the establishments Oh
an ocean-to-ocean line Of railway. the Cehtral
Pacific and Union Pacific and Baltimore & Ohio
now bring him from the Pacific to tidewater on
the Atlantic coast at Baltimore and Phlladel-
phia. and the Illinois Central gives him inc
from the Great Lakes to the Gulf; but 10 tAe
rounding out Of the system an entrance 10 the
Port Of New York is essential That entrance
can be secured through control of the Reading
which controls the Central Railroad OF New
Jersey. With 100000 900 Of the Readings Sl4O.-
ono OOO Of capitaI stock held IN the friendly
hands of the Baltimore & Ohio and the Lake
Shore. and millions Of the remaining amount
necessary for control owned by Mr.. Frick, II is
the view OF Wall Street that the Reading Is
now to all intents and purposes Hartman
Dronertv The masters Of Union Pacific are
men who plan far ahead and move "unhastlng-
"" and it is not unlikely that the entrance OF
Mr. Frick into the market two or three years
ago as a purchaser Of Reading stock marked
the beginning OF the working out of the project
for bringing the Hartman system To New York.
a plan in the development Of which the Union
Paciic's Baltimore & Ohio purchase was only
another step.
CANADIAN PACIFIC TUMBLES.
The total sales Of Reading yesterday were in
excess Of 100000 shares. the largest trading in
this issue since the early sos. when there were
100000 shares sold in one day. Reading Is a
half stock" the par value of its shares being
$50 The stock yesterday sold as high as 1855
and closed at 124l2. net gain of 1O1s points
Opening prices of the general list were, as
rule. above the preceding days close. and in the
morning hours a moderate improvement Oe-
Cured. running To a point Toward noon
an assault delivered along the line by the
bears before which prices speedily yielded al
though there We're indications OF determined re-
sistance by strong interests.
The most serious decline was in Canadian
Pacific which had opened at 1771a. and before
1870 o'clock had gained a full point. This
stock, which London was reported to be selling
had sunk to HIS by 1:3O and its weakness
had a depressing influence on the market.
With the sudden and sharp rise in Reading.
which set in only few minutes later. and which
the whole market followed. Canadian Pacific
ran up as rapidly It had gone down. In the
last half hour Of the trading it advanced "A
points closing at 1ITi4, point lower than on
Tuesday.
The market closed strong. with final prices
not far from the best of the day.
DAYS RANGE OF PRICES.
An idea OF the wide fluctuations OF the market
may be had from the following table showing
for a number OF leading issues the maximum
range OF price for the day and the net gains as
compared with the final prices OF Tuesday: