The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-02-05
HEARD ON THE BOURSE

New York. Feby. General apathy
instead Of general liquidation seemed
TO rule today. The gold imports stop
ped the bears from being aggressive
and the bulls have lost SO much money
and confidence that they are disposed
to wait awhile.
Bears started a raid on Canadian Pa
cine and did not find It any too weak;
they then started in on Pennsylvania
that stock showed strength on the de-
clines. They talked about st. Paul,
but were afraid to do much in it.
Copper was tipped for a big jump.
The talk is they can not put 1t below
10 and If that is the case there are
shorts enough in 1t to put it up to 10.
Steel did nothing but see-saw up and
down in fractions. At the moment it
looks as If it were sold to stand
still and would not go any lower except
on some very bad news. one can be
bear but don't sell except on some
strong spot.
Southern Pacific Is hard to put down
and there has been very good buying in
1T around 90, but the talk of its paying
per cent this month is too absurd
to believe.
Union Pacific has an enormous short
interest in it, that even If it does not
declare a per cent dividend for the
past six months. and they are betting
odds that it will not, 1t will probably
not go much lower than it is now.
Shelter looks as If sold to a stand
still, but that is the only thing that
can keep it up. 1t is entirely too high
for a 7 per cent mining or rank in
dustrial, but it is closely held and the
shorts can be easily squeezed in it.
The fight on st. Paul is still on in
good shape. One side thinks they will
have the shorts on the run. but they
think if It ever builds to the coast
the road will land in the hands of a
receiver The other side think no mat
ter what happens it will sell at 200.
/ Erie came out on every upturn Of *
and 1t don't seem possible to rally It,
but if it should happen to rally the
common is a good sale. 1t is running
behind in earnings and needs moro
money.
If the man with the big stick was
half as anxious to fight Japan as he
has been to fight the business in this
country we would not have the spec
tacle Of tn Mayor Of san Francisco
coming to Washington to explain why
he did not want to allow heathens to
sit along side Of little white girls in
their schools.
Brooklyn is a stock that can be sold
with impunity. This stock never paid
a dividend and never earned one, and in
all probability it will not pay one In
the next twenty years. The stodk is
high at ten dollars per share.
Morgan has so far not supported his
stocks and if they can have any kind OF
a bull market without him they will
have to do something that has never
been done before and you can bet thi.
time it will not be done either.
Reading was put up q little on news
that they would put it to 100 this week
! but it only pays per cent and wheI
you can buy New York Central pc
cent notes at 991a there is no use 70
the investor to lose money on 40
per cent Reading and that is the key
note to the market.
Mcintyre still looks for marrow
market with small slumps and tn
| fa,.1ra ID
still lower range than we have ha,
yet. Confidence has been too badl-
shaken and too many big people hav
lost money to put the market up
There it no investment demand an
t such rallies as we have had are onl
r from covering of shorts and outsid
! of that nothing. The forced supper
6 given the market is withdrawn tn
moment 1t puts up its head.
4 The Importation Of gold at this tins
0 especially when done by Kuhn, Loeb
Y Co.-Standard Oil crowds only for 0
q purpose and that is to put the marke
0 up. 1t always does that to declin
ing stock market They boast tina
they will make call money / per cen
and import gold at q loss TO stop thi
decline and they will stop II.
j. L. ..
r FAIRBANKS "FOR SUREw
" The shrewdest political foreoaster I
New York state which is, manifest,
to say in the United States, and tht
fOrepa star "a q damaoratfo ofieehoIde
d risks his reputation as a prophet an