The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-02-07

day. $3.50 ~ N-4S II
warner l ea~. air tonight and Friday;
HEARD ON THE BoURsE
New York. Feb. Union pao,e, Nc
tipped by very house on the aoor for
10 before the opening. but the ssll,pc
came from the insiders who ga,,a 80
the tips and the stock could not stand
the good selling although the sbor+s
bought in a lot of stock above ia
Southern Pacific followed the lead Of
Union, although the market was nar-
row and so was the range. The stoelx
was not as active as yesterday; in fact
| it would seem nearly Impossible at
this time to restore confidence.
Money loaned up to 4 per cent. on
call and then went back to pa per
cent. Time money loaned quite low
today, six months money at So and
four months at 5A per cent. Some
sixty day money loaned at u per cent.
The market is not bad but the stock
market is.
Missouri Pacific was weak awhile and
made q new low price on the story of
decreased earnings and of an issue of
$5O,OOO,0OO of per cent, notes at 80
to raise money to finish up some out
side work.
Steel made an effort to stem the tide,
but no matter what they earn the opin-
ion is against the rise. the common
not being able at VI of l per cent a
quarter to even carry itself
Copper acted better than anything
else. Since Lawson has stopped ad-
vertising 1t, it is at least probable the
stock may go somewhat higher. The
demand for the metal is still good and
the price is high Copper paying
per cent. and earning 20 per cent. may
| take an up-shoot
Atohison did practically nothing. The
range was narrow. The gossip is that
the pool that sold out at 104 to LOG was
buying back below par and the float
ing supply was small.
| Hill stocks were again very weak on
the selling Of some long stocks carried
over The fact is they are both pretty
| high for 7 per cent. stocks with moth
ing to look forward to but lawsuits
with the State. II the traders get
oversold it will force rally, but it
| will be a long time before they get
back to the old prices Hanly made a
little effort early to run in the shorts
in Colorado Southern, but the weak
ness Of Missouri Pacific took away all
Of his ginger and he dropped out of
sight too
London was up one-quarter to one
half Stability was apparent for the
last few days and prices reflected the
improved conditions. A little more en-
enlargement to the bull traders and
higher prices will prevail Money leg
islation is now looked for. and South
ern Pacific, Copper and Steel looks very
good.
Ridgely says: Il think the market
will go rather slowly upward, the best
point 1 can see is that commission
houses are we'll cleaned out of stocks,
and some of them are even now really
borrowing stocks in the street I am
very bullish and think any active stock
can be bought"
Market only reflected an oversold
condition and is no good, the improve
ment is only temporary. too much mon
ey wanted by the railroads and the
threatened strike in the Pennsylvania
will not help. / tell you to sell stocks
, on any rally, any stock.
The foreign markets are short of
our stocks, and although they may
make deliveries of the same, or may
send us the money, I am inclined to
think they will be buyers of stocks If
the big stick keeps still for a whole.
} Simmons says: Il can see no pres
sure to sell stocks except in Great
Northern and Missouri Pacific. The
market looks as though it would go
; higher"
Mcdonald, big plunger, told his
Z friends he had sold out and good
D many stocks were for sale. He would
rather take profits and go short If it
goes up.
( Barney bought Distiners. 50 did
4 Moore and Schley Price. Manson and
Q Thompson 500 shares. Hulk bought Tn
= ion Pacific, Miller and Ball and Con-
Q tent all sold. the Hartman houses also
sold.
: Sim says: I feel a little more
bullish. think the short interest has
:. not covered yet, but I don't see any
; more liquidation in sight"
= Miller and Co. say buy Union Pa
= cifc.
/, Big short interest in Canadian Pa
!; ciflc and Pennsylvania. It is only
question of time when the shorts VII
run 10 cover.
n The rallies have been big enough
10 TO disturb the shorts, but should any
body care to take the initiative on tn