The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-08-01

abroad through English finance COM
mittee.
Twelve industrials declined "a per
cent. Twenty active railroads advanced
as per cent.
The Whitney estate proved up some
twelve millions in value, and most of it
in Tobacco and oil.
Jones and LaughHin officials say if
there is any recession in the steel trade
it is not perceptible-
Philippine election resulted in vic
tory for nationalists whose program is
complete independence.
Erie executive committee meets to-
day Usual dividends on first and sec
ond preferred stocks expected this
week.
]. p. Morgan & co. takes $4,000. 600.
Five per cent Atchison convertibles not
taken by stockholders and is forming
| syndicate to dispose of them.
| The Gates interview on business
and money conditions is used by trad
ers to sell the market. Also some long
stock coming outs. 5. & Co.
Clews & Co.-For the time being the
prospects are for quiet but firm mar
ket until vacation absentees return and
the crops have passed the danger point
! Although London is a little weak,
we think the market Will receive sup
port from this end. and that all the
I good dividend paying railroads should
/ be bought on any eaction.-Koshland.
! There has been liquidation of Cop
per and Shelters, no doubt due to the
attitude Of the government towards
industrials. I believe Southern Pacific
should be bought at present price
Koshland.
L. S. steel earnings for second quar-
ter $45,503. 705, beating all previous
records. Unified orders 7,6O3,S7S tons.
Steel common dividend unchanged at y
per cent reduction in steel orders of 25
to 80 per cent since July l.
Mlnneapolis.-Th Steel company will
make reply to ore handlers offer to ar
bitrate this morning at 800 a m
through Mayor Cullum. Arbitration
Will be declined but the strikers will be
given an opportunity to return to work
in body.
Some of the shrewdest of floor trad
ers say that whatever may be the long
er outlook, technical conditions are not
bearish. There is a fair bear acct. Call
money at least is cheap. The Steel
earnings have not had time to be fully
Idtgested.
No special news. Some selling orders
came on market and there is no sup
port. Fairchild and Eckstein sold
Shelters. Amy and Mcdonald bot
London sold Steel; traders inclined t
be bullish. f. Meyer. jr., bot 5000 So
Pac., said to be for Kuhn Loeb. Harri-
man and Bissen sold.
H. C. Prick who went abroad to gee
the foreign element to help him or
Reading, and has accomplished his OBJ
ject far quicker than expected, is now
on his way back. You will see fire
, works in Reading as soon as he ar
} rives in N Y. The short interest in thii
} stock has increased while he was away
Atchison has been somewhat neglect
ed lately: the yearly statement vii
show is per cent on the common stock
Berwyn is telling his friends they viii
pay Z per cent. in 1908 and that tn,
stock will sell at 1O5 this Fall he ais,
l says buy Atchison Convertible bond
and hold till this time next year an,
then convert.
, There is very heavy buying O
: Calls" on NJ K & t common at AZ 8
in London good up to the end of Dec
ember. This is equal to 41% here an,
! is therefore not dear option. Prob
ably trading against these calls by til
| option dealers and perhaps short sell
ing by some buyers of them are to
gether responsible for a check in tn
upward movement.
Talk of failures in London on TIL
= regular fortnightly settlement is al
bosh, and is put out to corner shorts
there was no pressure on the market
= as soon as any buying orders came II
up the market would go for a pOin'
The bears hope for a calamity to lie
them in. The market has an oversol
look to me. Buy them on all recess
sions.-W. r, II.
Todays market will possibly re
O fleet a moderate Improvement of sent
= ment abroad and some optimisti
views of the market entertained o
this side. but there is no avoiding tn
: monetary problem until it is settle,
ana there is full evidence of a sur
even If moderate falling off in bus
ness activity. which is at present eS