New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-16
STOCK MARKET OPERATIONS.

STOCK MARKET OPERATIONS.
The reported indictment" against the Harri-
man railroad combination by the counsel to the
Interstate Commerce Commission was respon-
sble for a sharp drop in the market values of
the Union Pacific and Southern Pacific shares
in yesterdays stock market, while the entire
list sold off what Wall Street called sympa-
thetic selling. Maximum declines in Union Pa
cfc and Southern Pacific amounted to AS and
IA points, respectively. but the operations We're
not accompanied by actual liquidation Of in
vestment holdings, nor was there any indica-
ton of uneasness on the part Of the substan-
tial Wall Street interests as result of the pos
sible findings and recommendations of the Inter
state Commerce Commission. If the Hartman
lines sitting competition. as alleged. gov
eminent action to bring to end this offence
against the Sherman antitrust law will be a
bull argument on securities, though Wall Street
operators in the absence Of an active public
demand for stocks, may II effective
club to hammer prices to d lower level If the
government compes the Union Pacific to go
back to the operation Of its property rather than
engaging in the work of bringing under one
control all the railroads in the country, there
will be no loss to the Union Pacific stockholders
or 10 the holders of the issues of the Southern
Pacific and other properties. Trains will con
tnue to run. traffic will not he held back and
profits will not be reduced. Wall Street APP
parently convinced that the upsetting Of
the Northern Securities Company. of the Trunk
Line Association and OF the Trans Missouri
Association would bring great distress to the
business and general vested interests Of the
country and drive the railroads into receivers
hands hut nothing serious happened And
nothing serious Will happen to the country il
the Attorney General decides to proceed against
r,olc Tn Ice r.risa
exhibited a stronger tendency and in many
issues early losses were recovered in great part
while in few stocks net gains shown at
the close notably in AmaIgamated. Canadian
Pacific American Smelling and National Lead.
the last named advancing more than four points
on dividend talk Union Pacif" lost net rs.
Reading 81, Pennsylvania H. and Delaware and
Hudson 2Ia. Delaware and Hudson was again
under bear pressure. but no sensible holder
made the mistake Of selling it because some
spectators of bad reputation advising
sales Of the issue.
IN the course Of the last thirty days stock
market values have moved within narrow lin
its and the impression prevails In the financial
community that there will be little change in
This respect for n number Of weeks to come the
idea being that speculation will he made up en-
tirely Of traders operations and that there will
be no important sustained movement in either
direction until various factors which now tend
to check activity have been eliminated from the
nm G"' "7' '''e 'e'''i'ie "du
Sums "s,e Fu','u q on "'e '"sS ~ ICE ol i'''
ilol" "H''i pom. 'isS iose 10 Iofl Oh May =
WINE YESTERDAY 'i'e same issues showed an aver
age oi ABOUT I''' WINE me 'edHnS INDUSTRIAL
SnaIeS Me'e q"o'e" a. an average price Of 80
'saNs' '-'0i d ""'''" '."' 81 u'e ''"'e III q"es-
uch udHSacuoAS were HSi'' DoIh in lhe bona
and share departments, activity in bonds being
'o'i'','eu III p'l' - se ''D'e ISSUES
"hieh appedieu 10 appeal 10 Specui''orS more
'''"l' ~ -. ho'ioS arc 9' q" "''d''Ne
ieNe' LOT the person =" no "eSi'eS d Sa'e cnahhei
lot 'he Placement u MS money nut al me pres
ent uine there appears TO be little money avail
aole TOT Investment purposes owing I" me at-