The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-09-20

SIDE OF ne market especially en- any
fair recessions.
BulIish speciality operators seem like
~ today following the natural reaction
yesterday from the early bullying and
subsequent to the quiet induced by the
Jewish holiday.
Some believe that short covering
was due to the recovery. but it did not
look that way, as a good many issues
were sti1 depressed especially heavy
were the Steels and Copper.
Atchison earnings of last year CON
tinue to grow and that since the be
ginning of the present period the earn
ings of the road have increased ap-
proximately $4,000 900 gross.
Ana told by best posted party that
Great Northern Preferred Will so on
per cent dividend basis on oct s, and
Northern Pacific on same basis Oct 4
This comes from a close friend OF J. J.
Hill.
One Of the most interesting Tumors
on the floors is that J. p. Morgan x Co.
had taken over about 10000 shares OF
Union Pacific belonging to II. II. Rogers
through the agency of Kuhn, Loco &
Company
A. 0. Brown & Co.-The declaration
of the regular dividend on y Y. Cen
trail appeared to have no influence but
there is no doubt that a reduction in
the rate would have precipitated con-
siderable fresh selling.
Dividend-Philadelp Read
ing company declared the usual semi
annual dividend of per cent on its
second preferred stock payable Nov.
to stock of record oct. %. The an
nual report was approved by the di-
rectors.
There has geen a very strong i'm
preston held by people in the financial
district whose opinions are worthy
of consideration that for several months
the Morgan house has been accumulat-
ing Union Pacific stock and that it
now has very substantial holdings of
this security.
7. A. Mcintyre & Co. say-The tech
meal position of the market has been
improved by renewed short selling to-
day and on any further reaction good
dividend payers should be q purchase
for a turn particularly the better class
Of railroads which show greater re
sistency.
Buy Rock Island Preferred and Col
lateral bonds; the same quantity of
each. You will be able to carry them
and get "a per cent per annum right
now, but the Preferred will pay per
cent in January and the speculative
possibility will show YOU 80 per cent
on the investment.
Morgan buying Great Northern-So
called Morgan houses were given
good deal of prominence In early buy
ing of Great Northern Preferred. Some
of the traders sold on their appearance
arguing that If the pool wished to take
profits that would be the obvious way
to stimulate outside buying.
BY this time everybody should realize
that there will be a reduction in the
Copper dividends and no one can look
for more than about half of the present
dividend on either Anaconda, or Anal
gamated, but even on this basis. we
believe that the stocks have some
value and good speculative fluctuations
should result.
Buy stocks conservatively on all re-
actions You know the issues we have
heen recommending: Union Pacific,
Reading, Brooklyn, Hill roads, Southern
Pacific, Amalgamated, etc. We also
think that n. Y. c. and Pennsylvania
will gradually improve. The railroad
equipment shares are on the bargain
counter.-Ridgely.
We would not if In the daily trading
position ignore fair returns on either
side of the stock market for it is still
highly professional and as such sub
ject to sudden changes of a superficial
character while at the same time is
may be undergoing convalescence as we
believe it now is. The railroads are
still to be preferred on recessions as
purchases.
Pullman Co.-From all that can be
gathered here the Pullman company is
not engaged in the wholesale discharge
Of employees. The facts are these. Bust
ness Is assuming normal conditions
compared with the abnormal state Of
affairs some months ago. The COM
pany had about 1880 employees on the
p-yrolls in its shops early in the year
which was the largest number on rec
ord.
The news this morning was rather
depressing for the speculative element
and the opinion prevailed that stocks
would go lower, and quite number of
selling orders were in evidence at the
opening, but it soon developed that
some one who is in better position to
see the Improvement was buying stocks,
especially Union Pacific, and with this
issue the entire list sympathized after
while, and gains of one to three per
cent scored before the day was over.
From general observation and fol-
lowing the progress of the Western
railroads notice. that ChfrarN NIL