The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-01-11

money Was cheap ana in plentiful
supply at reasonable rates both for
time and call. The Bank of England
came out or the holidays in fine shape.
got its reserve up to normal figures
and Will probably reduce the rate next
week.
Steel was in good demand, especially
from the shorts on the big earnings
and the story that n. B. Ream has ar
ranged that the Pennsylvania holdings
of Cambria Steel will go to the United
States Steel company as soon as the
Pennsylvania let's go. which it has to
do some time this year.
Pennsylvania was bid up trying to
make the big short interest in 1t COW
er and to push the stock up some
what higher before the new $4,000
900 loan they want to put out is floated,
as 1t can be done in better shape if the
stocks is around $50.
Copper was bulled by the outsiders,
but they got so much stock out of 20
Broadway they had to give it up. 1t
is estimated that crowd had to sell
not less than $4,000 shares to keep
the market from running away at 121
and they will not replace until the
stock is around 115.
Missouri Pacific was sold by every
body and dragged down the market
with it. 1t looks as if all the Gould
stocks will have to go lower; they
have been no good for a long time and
now they have not a leg to stand on.
Colorado Fuel ought to sell below so
and will in all probability before the
end of this campaign against Gould.
They are going to make 1t hot for
him and he has no Russell Sage this
time behind him to help him out. 1t
is supposed that Hartman and the
Standard Oil are after him with big
knife.
Denver will have a hard time of it
along with Gould as he dominates it.
1t looks like 35 or 81 for the common
stock and the road may be taken away
from Gould. If 1t does, it will be a
good thing for the stock.
Union Pacific was well bought and
was in for a good rise until the jolt
in the Gould stocks. The earnings that
came out today in the informal state
ment showed the wonderful earnings Of
the system. The net must be over q
per cent. on the common stock and tn,
| liquidation by this time must be over
Railway Springs took up it's Ions
expected squirt today on the story o
the advance in dividend to per cent
and the advent of the Moores into tn
stock. This is supposed to be wort
at least ten points to the stock, bu
am told the company is not doin
every we'll at all.
st. Paul was bid up by the old Grove
including the Armours. They say a
$50 it looks cheap for per cen
trans continental, too, and that it wi
catch up on its rights in a shorter tim
than any other ex-right stocks. 1t 1
also claimed that the statement wi
show a big increase in net earning.
New York Central is now wanted b
Hartman. He wants to shine as tn
owner of a real trunk line and If h
gets it he will have enough stock /
the open market to make himse
secure and that will mean $50 or NOR
at the least
Atchison was held steady today b
the pool. At one time it looked Xix
going UP as a leader, but too muc
stock was thrown on the market an
the bear raid in Gould stock stoppe
} 1t fiat The pool is still intact an
I hi
Reading put on bold front agains
the shorts and some Of them ran i
Wasserman bought over 10000 snare
: and Gates about 10000, and the
4 rushed 1t above 13s, but the weigf
9 was too much. Every other stock wa
sloppy and the good work stopped.
Undertone in market was fairly goo
and some good buying in Reading
Paul and Union Pacific, but tradin
was dull and professional. Money wa
!; easier and it really looks as II we vi
have easier money from now on whlc
y NAV help the situation in genera an
make the market more active.
Flower was the buyer Of St Pa
. about % 1000 shares being taken. bOi
don was also a good buyer vase
o man bought 10000 shares but SO
y most Of it at a decline. Wasserms
and Gates were both large buyers
Union and Reading
y Marshall says II is impossible
10 have a bull market. We get a raj
% once in a while, but that 1t all; L
many people hurt and too timid
!. hold on and money not IN good shaT
but we can perhaps have an acti
d market In steel and Copper. but bl
: only on recessions