The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-05-12
GOSSIP OF KA1L STREET..

$3.50
sHNa IN eohseotOu WIN tns Iepoi' 49,
peo'Ite new nhapcint was thAt the p". ~
tnS stook tppeAieu 70 nave 70 hiueh vouV
Brokers who said they had positive Informs
ton that an issue OF bonds " ould be. author
lied beforeIong without hesitation proclaimed
themselves bulls on tho stock. Their theory
such terms as to make them the medium Of
rights worth having, and as for the bonds
themselves, II was predicted that they would
be the very hottest thing In the way Of q
speculative investment that had come into
Wall Street In many months. Nowhere.
however. was there any attempt TO forecast
he nroStd.d 1nr EsHn,atss ~ ~ stzs NJ tbe
49, $50 Is. hih " 90 ono oon oil.
,hoseh ,h.rs was n-a,,,, gsnsraI disnosition
10 rago,d thi.o % toohigh
~
Possibly the reason why some Of the bulls
on Reading profess TO believe that an Issue
Of bonds will be made before long Is that
being committed to the long side they th'rk
II best TO put a good construction on the posi-
bility which the bears seem to regard as 'heir
principal argument. The bull position Is that
the worst that can come will not be unfavor-
able TO their operations. About all that has
been going on Ia Reading for come time past
has been the most professional kin OF play
for turns. and as long as the stock continues
to yield as well on such operations as It hos
done recently there is apt 10. be a variety OF
rumor. some Of II more or less ingenious.
80 - " - o u ~"
a o snI' ~
VI Aptn "ooiu sno" ~" uoIIuS
.e man el'oVO'VOV. % IOinpAIe" " -
OotIsspShE .hon.n Iaet year; III ~
30 ~. =.
oUnpSny . ooaI OUTPUT iss' hontn su.psss al
az pIerIVus e nhne as u SUI. ~"
,ninas 80 otasaS - 1900 49,
" 49, III ~ = "N' -"
Almost every broker had a Tin 10 buy Union
Pacific for a big rise. Some OF them acted
upon It and went home long Of the stock.
Wherever the inspiration came from II APP
peared to nave made many believers. and the
words OF the prophet we're passed around and
reeohoed with q zeal we'll worthy OF 80 good o
cause, Those who did not believe what they
heard were given ocular demonstration that
something of unusual importance was under
II Gu'.hs : : .o !, So
pss.nwo noaS o,re az ~S,endardoiI
Ss,.ts ronr"s"nt tha
Dronnt1s,, h.nr,nn hnUse ,n,.r.stad In tbs
pSNnnu.. - Iii ~. ~ 49, ra~o
p.ope,.s ~ 49, 49,
- Ill
unnne%c Na a.. sasnn. "a III ~
thsm blddIn0 for ths stock NothIn0 mora
conE ue supposeu ~ 800.
y ."err ~ -.
III So'oDd r. h. ssw snch A., ann.aroncs
H-no Su1.-HL san nusaop - ar
on 80 TsnIS NJ ~ .smttn. W ~, !, hacome
nul hnt h,,Iso ~ go H.
49," ~ 80 ~ m.,in
.isueu - - : - ~ "a 4. -. h.donnsrau.
i" 0pp0'e -
., 1T,,o, p.o,ro
nAt n 49, o.non az
10 sI,ont ~ y. 80 Sr,uIv
sooSh III ~ noo ). 49, ~ 49, 80
oeeh neaf,F SOW on .he prospe"t VI uAu
crop Iepor'' Inv nu"u..on. ~ ~ 80
put ouS On ~ tuntooI u % "
nhanoihb, ~ s"s ~
tne oea's hsNe n0'eaoeu ~ nNIunN1
ID the past uay IN VIZ tiounu tnSt " esueap
rise IN nheas lnuloe'e .ot.H CIV"
deterioration u II aIo"i"s 0iop' bag
Nov that underwritinR has been arranged
TO- !, IN r.anrded A not AT ali unlik civ that
IIa,o, paciec will receive strona supnort In
~ market II "a not nj ali impossible that
H. onen displav Of slRniacant buyinR yester-
a. Ess the Arst real evidence of this. and
~. 10 onythihp even more convincing Ia
ua.S.d 70 MAKE the bonds 20 IL will he forth
nomino
~ -
nh. -utn.ss ~ American sms,ting and
49, 800 ras not satiefaotoriI sInIainsd
-. 80 80 . A, n~oai,Ion to attrjhute n IN tbe
$3.50 - .,I,or Witch N vas contendad
80 : t.I-,v dITsct en- ect nm The prospects
taH ~. sms,tino husInehs, Another factor
Sh,,h nsrhons n0,red mora largely In the
nnn 80 H. tha o1nsc,stions ~ nm in
een. n ~ o.nt in the dIvidend rate at
H. nayt d.cIo ration toward the
Sn - a. uonth ar. No Ionoer .ntertaIned
az. 49, mat ,s NOW Looked for ia that the
~ 80 ha moda q ner cent snd even ON
~ ~ n-omises are none Too positive.
'nS 'N'
81 nost ,vide,v read NJ broh.rs'
~ 49,. ~ In mart. sTbat the World
snandin q moro can,tal thar n could
a 49, oHnrd is tr,,e That = half bs.
so - nnIiad o,so ssems tr,s and that the rail-
u 49, $50 dt1 cnit m ston nj once IN main
. ~ iareer mart ar the iasuea NJ iris
s,nar IN ne used for retiring TEMPORARY obli-
,,atIona rather than TO dc new work. and there
lore VIII not oe 'nis H NJ "
new money ttoh 'ue NJ,
selves "ha1 ssoch lte NJ
10 40 mere ~ Ne" dS. n~earaT ssnttno.n,
give an answer. lh"e -
y tov 49, oronoriion or our stoclss is
III wi AIOh Va wi hNOShI III