The Lake County times., 1907-08-06
RAILROAD EARNINGS.

the market rallied but became very
dull
Talk on floor that the government
viii now attack the Smelling COM
pany.
Reading was exceedingly weak and
liquidation was noticeable in this
stock.
Am told by very geed people to
buy Southern Pacific, Union Pacific
and Steel.
Business sentiment more conserva-
tive but nothing in crop outlook to
cause pessimism.
The bank statement was TO differ
ent than expected and had no influ
enee on the market.
Twelve industrial stocks decline
80 per cent. twenty active railroads
decline ten per cent.
The market did nothing today and
yesterdays letter Will suffice without
adding to it.-Ridgley.
Pittsburg reports U. S. Steel will
take over Midland Steel company in
volving about $15.0o0,00O.
Copper and smelters were again
weak and it seems that some further
liquidation may have to take place in
these issues.
We think with the prospects for
good crops and high prices for pro-
duets, values in general should be bet
ter in the near future
we think that conditions at large
are good and from an investment
standpoint the good dividend paying
railroads ought to be cheap enough.
Some say it's not enough; others
say its ridiculous; I say, what's the
difference; You know it means long
litigation, and in this country every
thing is forgotten soon.
Traders sold stocks without hesi-
fancy and no doubt a good many stop
orders We're caught, which brought
about lower prices than could have
been looked for otherwise.
National City Bank shows largest
decrease in cash in bank statement
Twenty four banks under % per cent
reserve as against twenty three IasE
week and twenty this time last year.
of r
Smith, in report to president says that
Standard oil has earned $4,000 in
twenty-four years and disputes reduc-
| ton in price of oil.
Decision against Standard Oil
| company must have some influence
upon the public mind, and there will
undoubtedly be some stocks offered
for sale, which would not have come
| out had the decision been otherwise.
| The Standard Oil company will ap-
peal and with this bogie man out of
the way, the market will probably
soon improve Stocks should be a
purchase for the August rise; if they
are a point or two lower than tonight,
all the better.
| The public cannot give any support
to the market and the big people who
/ are interested, do not feel inclined to
! take on any further obligations, SO
! the market can be easily manipu-
lated by some people who are free of
stocks.
The feeling in general is rather pes
simistic, but we see no reason why
this should be the case, as we think if
| the rottenness of the corporations is
once exposed, it should be more bene-
fcitl and in time, we think better val
ues will follow.
There is very little that can be said
ION the general market, people with Sc
curities are trying to hold on to them,
and if there are no weak margined
| accounts, prices may recover again in
| the near future, but at present it
looks as if liquidation may carry val
ues down somewhat further.
/ Town Topic Views-N. Y.-We are
very bullish on the Hartman stocks
especially Union Pacific and would al
50 advise the purchase on weak spots
today OF the Hill issues, St. Paul
Atchison and Reading. The market
may be a little reactionary this morn
ing but should do better toward the
close.
London being closed today, our mar
ket Will he without this influence, but
last weeks developments We're of a
more favorable character in Europe
and our own money market assumed
somewhat hetter shane at the clnSe