The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-02-20

ket continues purely a trading affair
they also believe that profits will be
limited to turn of point or so.
New York time money was slightly
firmer and asking rates for sixty DAYS
We're advanced one-quarter per cent
TO IL per cent The market nomfn-
ally was 51-4 bid for all dates from
sixty days to six months, with 5 -
per cent asked nominal. The quotation
for thirty days was 5 per cent
Private advices from Pittsburg saw
there is a lull, particularly in the east.
in the demand for structural steel.
Building plans have been cut down
materially, it is said
Certain large consumers of Bessemer
pig iron who have contracts fixing
prices according to monthly average Of
sales in open market. are refusing to
take all the iron, since contracts pro-
vide stop point releasing buyer and
this stop point has been exceeded. An
expected tonnage of pig iron is thus
released which the market is finding
difficulty in absorbing
S26S,000 or z per cent in December had
an even break in net, compared with
the month in 1905. The net gain I'm
six months was s4S6, 900, or per cent.
Other causes which aided in holding
in check the advance in prices was the
fact that the Bank of England had
secured all arrivals of gold from At
RIGA and the prospect OF the early re-
sumption Of the interstate commerce
commissions inquiry into the Harri-
man railway dealings.
Broad-view critics have said there
was not enough money to supply the
country's commerce and a stock boom
simultaneously. others have main
tanned that the scandals in high fin
ance We're chief speculation, observers
claim that the vast speculation in land.
real estate and in mines has detracted
from the stock exchange.
The incubus Of Yesterdays slump
lowered over the stock market. After
a fairly steady opening-a "feeler"
which the professionals permitted
the vulnerable issues were attacked
anew and as there was practically no
support losses averaging a point were
again recorded.
Observant brokers discussing the
days operations, say that the market
developed no new features Of special
significance. AS for some time past de-
clines We're almost entirely profession
al and the chief aim behind them seem
ed to be the dislodging of long stocks
The New York sub-treasury lost
$4,000 to the banks on Saturday, but
since Friday it has gained s2,497,0Oo
from the banks.
In the insurance matter, it seems
that Thomas T. Ryan is to test the
legality of the law recently passed by
the New York assembly putting policy
holders virtually in control Of the or
ganization. Ryan paid a big price for
the stock of the Equitable but he did
not forsee that his philanthropy would
be negatived by the Legislature.
The refusal of the public to particI-
pate in Wall street affairs, the re-
luctance of spectators to hazard a
stake on the New York exchange has
at last made an impression on the
eastern Bourse authorities.
That the Pennsylvania contemplated
the raising Of money for equipment and
construction work has been known for
some time, but it was believed that
provision for the betterment would be
made from the issue Of the new stocks
or bonds or convertible bonds announc-
ed in the financial plan approved some
time ago by the directors. a part Of
the loan, it is expected, will be placed
abroad and unless there is q change in
present plans the money viii not be
raised under the authority to be grant
ed by the stockholders on March u for
the issue of s100.000.000 additional
stock and $I00.O 600 additional bonds.
The days rumors We're largely deal
ing with supposed coming note issues,
of which the extent and variety were
said to be great. No authoritative an
nouncements followed the rumors. The
compilation OF National bank returns
to the controller received from Wash
ington today, claimed the principal in
terest on account OF the increasing ex-
cess Of the loan item over the indy
iduaI deposits. j. /. D.
From Swedenborg.
To viii and not TO do when there fs
3 ;e n, --g4F.