The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-03-07
MARKET NERVOUS
Wall Street Is Excited Over
Movement in Reading.
Public Can't Find Out What Is
Going On.
KNOWING WON'T TALK
Hill and Hartman De-
cline to Be interviewed.
The Latter Says He Has Had to
Take Back Track.

New York, March There was
continued excitement and disorder in
the early stock market today. The
opening movement of prices indicated
| that the bear party had recovered
from the generalization caused yes
terday by the report that control of
Reading had passed to Hartman. A
vigorous onslaught of prices was made
at the start. Reading itself relapsed
! three points from last nights closing
price and Canadian Pacific dropped
over three points on a renewal of yes
terday's weakness. There were a
number of other declines of 1 to 1 "
stocks. An immediate rally followed
and the nervous and unsettled state
OF the market was shown in the fire.
quent huctuation and great activity of
the trading.
The failure to clear up the mystery
surrounding Reading was the unset
ting influence. The identity of the
buyers and their moves remained in
doubt The sundry opinions on the
subject were of an accumulation for
new control. renewed speculative
movement by powerful interests on the
long side of the stock. or a mere mani
pulative movement in the market to
drive in shorts and make an advan-
tageous market for disposing of furth-
er holdings.
OIl the STOCK exchange the trading
in Reading was watched with the
greatest interest. There was further
short covering but otherwise the buy
ing or selling gave no hint of inside de-
velcpment- Operations in the stock
during the first hour aggregated about
10000 shares.
Henry c. Frick refused to be inter-
viewed. Mr.. Harr!man's associates
said they had no knowledge of any
Reading deal.
- L:
opinion concerning the Reading mat
ter.
Il know nothing about Reading and
| don't want to know anything about
it, he said.
z. H. Hartman arrived at his Office
shortly before noon
Don't ask me anything about Read
ing" he said, don't place me in q pc
sition where l have to talk about that.
dent Want to say anything about tts'
Mr.. Hartman said that he was well
satisfied with his visit to Washington.
He thought the administration had ar
rived at the conclusion that more at
tention and consideration should be
shown to railway matters.
Regarding his views on the general
situation he said:
I'VE all make mistakes; we sonie-
times have to back track. I've had to
do it"
Mr.. Hartman went on to talk about
the enormous sums of money put into
improvements, saying lHdl MS
own roads had spent something like
$250.000, 600 and that the country as q
whole had been immensely benefited
by the developments of the railways. 1t
was intimated by Mr.. Hartman tina
he expected to visit Washington again
shortly by appointment with President
Roosevelt.
Mr.. Frick was met on his way to the
meeting of the Union Pacific executive
committee. Asked about the alleged
deal in Reading he said:
Il know nothing about Reading ex-
cept that is is a pretty good road"
Narrow fluctuations and dull trading
had thrown the midday stock market
into n condition of monotony which
was broken by violent falls in the
Southern railway stocks and in Eric
important members of the Morgan
group of railways. There was a per-
pendicular drop at SIS in Southern rail-
way preferred, in the common and 3
in Erie. United States Steel also re-
sponded with a decline of a point. Tia |
market otherwise did not weaken |
acutely and righted itself again with
the cessation of the pressure on the |
Morgan stocks.