The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-09-08
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thsT example
Ips What eher' The hank s,a'swer 49,
IN csusnx the decline ~ voulh be Irposs Na
30 ssy. for The rssrtion had begun before ~
figures made their appearance M mo S'rHs'
and ~ following the announcement ~ = ~
thor reduction IN tho amount ~ me surplus
reserve. me decline proceeded ~ = move
rapid rate than before. there vas no va ~
showing that m. accelcraton ~ v%slo,fE
was me resul, NJ the new factor more fher
~ The cumulative effect ~ Tho orginal forces
The reaction vas due and n might have aons
Just ~ FAR even had The bank statement haen
. good one
Nor'hern Pacific opened "A m 'hs puhlica.
ton ~ q denial from Jsme. 2 Hll of the story
about q large extra dividend 10 he paid ~
rash 10 stockholders ~ the road II was o.
this rumor that most Of the foor traders had
bou ght the sto X. 80 when the dental was
published they no Ion ger had the courage 20
hold on. For their mistake m v could onl,
blame their own credulity. No one in pos
tion - speak au'horitatively on the snair. NJ
the hin roads had on Friday or at any other
time recently given any encours cement What.
eyer IN the sfOFtNs ~ ~ vnUnsfiata sxtra tta
tribution on Northern Pacific. and there i
every reason to believe that while there has
been good buying Of the stock for some time
past II has no, been based on exactly this kind
OF expectation. Mr. Hill was asked q speciHc
question and he answered it specifically.
definitely. but II the traders took II for grant a
thar because the particular story In question
was denied there wa no ground for any Of
the optimistic expectations entertained bY
he friends the property they deceived
themselves again. However. as they were
My traders operating for q quick turn and
not investors willing to await developments
It did not matter very much.
N IL interesting 70 recall now tha' for manv
months past MIR. Hin seems to have found
more nleasur' in talking OF the future "
Northern Pacific than Of the outlook for
Great Northern.
II WAS rumored yesterday that q further
reduction would soon he made in the price
Of copper. hut in we'll informed quarters the
statement Was made that a large quantity Of
the metal could easily be disposed Of A. ~,
cents a pound for clectrolytic. Al this rate,
too. the wages Of the miners in the Butte
camp would be reduced TO o.. so a day, N
accordance with the agreement made last
winter. when The rate Was increased To ~.
and the position Of the Amalgamated com.
pany would hardly suffer.
The reduction Of half a cent a pound in the
price Of pig lead made by the American Smslt-
ing and Refining Company had something
TO do with the heaviness in this companv's
stock. This should not have been 80. az the
reduction Ia expected TO result In a resumption
Of active demand for the metal,
DAILY TREASURY STATEMENT.