The Lake County times., 1907-02-19
HEARD ON THE BoURsE

o--O 4A'--A
HEARD ON THE BOURsE
New York; do not think the mar
ket win decline much from here
though our friends still think there
won't be much doing for the present
on the bull side. It is possible that
the approaching examination Of Harri-
man may make holders Of Union Pa
cine little uneasy. Personally I favor
the purchase OF good stocks. including
Union Pacific on these reactions
Coppers and Union Pacific were esn-
ecialy weak. which affected the entire
list and only an occasional rally was
noticeable. but prices generally kent
sagging until the closing. which v-as
rather weak compared with the close
of Friday and Saturday.
Moore & schley were substantial
buyers. thought to be executing orders
for Washington and this was taken as
q good omen for the currency bill.
The market while fairly strong a+
the opening had a weak under-tone
and eased eff very quickly under sell
ing by the bear element which brought
out considerable long stock, and II
seems as if little support is given
the market, and therefore 1T is left 10
itself, but it can be moved either way
very quickly. The currency bill is only
an excuse to sell stocks on and they
won't get it through.
We hear there viii be a new stock
issue Of Amalgamated in exchange for
Anaconda.
Pressed Steel car company will issue
in few days its annual statement
showing over 10 per cent earned on
the common stock.
There is rumOr that Pennsylvania
win place s50,ooO,000 notes In France
but there is nothing definite
The Sun says: Southern Pacific
earnings are expected to increase $40
100000 this year with earnings of IA
to 10 per cent. on common, practical
surety is that stock cannot remain
much longer on a per cent. basis.
Todays market should be fairly active
and stronger. The monetary situation
since the first has been largely inhu
enced by the payments to the Treasury
of S12,000,000 deposited in December
and this has been without serious i'm
pairment of the situation"
Market looks all right: we expect
some news from Washington about
legislation on financing. otherwise no
news People should not forget to
take profits.
There were many rumors about note
isues of different railroads but none
could be confirmed, but something
seems to be hanging over the market
the way stocks were sold.
1t seems assured that the Aldrich
bill will be before the Senate today
and it's early passage is looked for
through this body. In as much as
there is nothing radical in the bin. its
consideration by the house may have.
result, meantime most reviews Of the
financial situation lay the greatest
stress on our relations with Europe
and the fact that we appear to com
gold
are concerned. The enor-
nous reserve Of the Bank Of England
will be added this week by $4,000, 1000
unless Americans bid for the gold to
arrive.
The rumored issue Of securities by
Reading or Pennsylvania, generally
said to be in notes, was the principal
cause Of the check to the early buying
and the general setback.
The attempt to bull Missouri, Kan
sas & Texas issues has been checked
by a small but steady supply of long
stocks from foreign holders. 1t should
be remembered that the Antwerp hold
ings are very important and that the
London market is constantly better
than this for both common and prefer
red.
The weakness in Coppers and talk
of increase in Amalgamared stock, and
issuing of short time notes looks like
bear market
1t is reported that an immense body
of high grade ore has been struck IN
lower level of the Mountain consoIi-
dated mine Of Anaconda company
Boston has buying orders ia Anaconda
Expect continued advance in price,
especially Union Pacific, Southern Pa
cifc, st. Paul. Copper and Shelters.