The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-03-16
HEARD ON THE BOURsE

4441<AASS 04N 44G oO ~ TOE
After a wide fiuctuation Of the first
hour yesterday the movement Of prices
was construed as indicating a re-es-
adjustment of confidence. Current be-
lief was that the market CONFUSION
had ended with the sensational break
yesterday.
movement to cover shorts started
after the announcement that all sheets
had gone through without trouble. but
brokers' making efforts TO cover large
amounts said they found it hard TO
reach any material supply Of stock
even at the advances made during the
forenoon.
Ihere was still considerable doubt
as TO the duration of the recovery ex-
pressed by bear operators One of the
most Important and aggressive traders
SAID that as long as the cause of the
extensive liquidation was not explain
ed confidence would continue to be
easily disturbed
T. 4. Mcintyre says: Think we
nave passed through the worst Good
STOCKS IKE 81. Paul Northern Pacific,
| -'NANAAet H. steel preferred. COP
per are all first class purchases at cur
rent prices and on scale down from
here. But only to those who can af-
ford to pay for them. While IT looks
as though the worst is about over fl
is still dangerous market for trader
except on large margins.
A report was current in banking cir
cies today. though no confirmation of
1t was obtainable, that a block OF
100000 shares Of Union Pacific com
mon was transferred at private sale
yesterday at III.
Commission houses were crowded
with anxious investors watching the
stock market. Many big operators who
usually buy stocks are taking hold to
fair extent. Some have had large
orders for stocks. while others get
only small ones. For bonds there Is
no call, as stocks which have for
months sold higher from a revenue
standpoint than bonds, are now down
to a sound basis.
The statement is made by interests
who are in a position to have positive
information. that there Is absolutely
no truth in the report which has been
in circulation here and In Chicago
that J. p Morgan & Company have
secured control of the Union Pacific.
There was a general recovery in the
Boston coppers with advances all
along the list The higher foreign
markets stimulated activity and shorts
covered freely. Money was somewhat
| ha eli
mated a very great part Of the short
interest, which makes that market
more susceptible to bearish attack.
While a material rally Will take
place, | hear that the bear campaign
. is not over with yet, and Union Pa
cifc is still the card, after rally of
about eight points it can be sold again,
probably around 135.-B. A. Sim.
we believe this market will sell very
much lower.-A. o. Brown & Co.
A A. Houseman says he bought up
wards of $4,000 shares on Thursday
and practically as much on the pre-
vious day. This stock is paid for out
right and will be taken off the market.
1t is authoritatiyely stated in well
posted banking circles that the re-
spouse for margins was remarkably
good. Every legitimate commission
!. house is in good shape. The banks
are prepared to protect concerns do
ing a legitimate business.
+: Spencer Trask bought large blocks
all around the room.
Yesterdays market was the natural
I consequence Of the extreme liquidation
: which had spent its force. and it is very
9 evident that people with funds were
8 ready to buy stocks on an investment
basis. which was proven today. as in
, yestors Were looking for bargains, and