The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-07-17
Stocks, Grain and Provisions
LATEST MOVEMENTS IN N BY EXCLUSIVE WIRE TO
CENTEF2S, THE LAKE COUNTY TIMES
HEARD ON BOURSE.

HEARD ON BOURSE.
London is buying some stocks; so is
Kuhn-Loeb. Looks like Union Pacific
would be the best bull card on recess
.sions.
Certainly over $4,000 shorts were
covered in this market since Friday in
Union. Southern Pacific. St Paul and
Reading.
Fundamental conditions are all in
favor OF higher markets, but if the
spur is put to them too hard they are
apt to sulk and act badly. but the
swings in the market at present look
To be upward.
Morgan is in London getting the
Europeans in line, and J. J. Hill. who
has just returned from New York, also
thinks this is an opportune moment to
declare the long expected Burlington
deal; this viii boost Northern Pacific
and Great Northern from five to fifteen
points, I am reliably informed.
All grades Of copper were again re-
duced at the metal exchange today
from one-haIf to three-quarters of
cent per pound. Lake was down three
quarters in the bid at 21G 22c; cleo
trolytic one-half in both the bid and
asking price at 2012 a 21c, and castings
one-quarter in the offering at 20Q2OAc.
A man who has been a powerful
factor in the market speculatively from
time TO time has told his friends with
in the last twenty-four hours that
there is no question about the cheap
ness of nearly all the stocks listed on
the stock exchange, but that he does
not look for special activity in the near
future.
Washington advices say the depart
ment of justice will take no action
until next fall, if even then, against
Hartman; that is the point to look to
for bear news. Business men have
about come to the place where they
will say: give us a rest from these
reformers; we want to do business on
the old lines again"
| The Hartman people and their at
/ torneys say the only reason the inter
state commerce commission did not
make more drastic report was be-
cause it could not be done. They had
to go back to the laws of 1874 to find
anything to even hang a hat on, and
in the meantime the road was in the
hands of a receiver. which nullified all
they had to say on that point.
There will be some good news come
out before very long on Union Pacific
which viii probably swell it up to
about LAG or las, but on such bulge
we think profit taking might prove in
Eorder. Meanwhile, purchases below 141
are indicated for quick rallies. Atchi-
son, B. R. T., Great Northern, Southern
Pacific, Copper, Missouri Pacific, ST
Paul, Pennsylvania should all improve
| Copper metal al 22h cents means
big profits for Amalgamated; the re-
duction to this price is no surprise
the large buyers of metal are now buy
ing for the fall trade. Sentiment very
bullish on both Amalgamated and Ana
conda- The stocks are far lower than
justified by the price of the metal; the
decline is the result of a bear raid
both companies will show larger earn
lugs than last year.
1 have it from the very best source
at oyster Bay that they think the
public is not with them and that the
trust busting" and batting" has gont
too far, and that they will give the
outside a breathing spell until Sep
TENDER. In the meantime money II
getting easier and in more plentiful
supply both here and abroad; railroad
earnings are still Milling IN This al