Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-07
STOCK MARKETLNELY
Vigorous Onslaught of the Bears
Again Today.
READING CENTRAL FIGURE
Operations in First Hour Reached
About $4,000 Shares.
a
HARTMAN DECLINED OPINION
knowledge Of Any Deal Denied bv
Other Railway Magnates - I'm
mense Amount of Liquidation.

| OiNHNp (,-Ilere
uhued excitement and disorder in the
| early stock market today as an after-effect
| OF the turmoil of yesterday. The opening
| movement OF prices indicated that the bear
| party had recovered from the demoraliza-
| ton caused by the unexpected renor, YES
| terday that control OF Reading had passed
| "A vigorous onslaught on prices was made
at the start. Reading itself relapsed
points from last nights closing price and
Canadian Pacific dropped over points on
renewal of yesterdays weakness
Ihere We're number CT other declines
VI 10 IL among the most active specula-
tive stocks. An immediate rally followed.
and the nervous and unsettled state of the
market was shown in the frequent fluc-
tuatfon and great activity of the trading.
The failure to clear up the mystery sur
| rounding Reading was the unsettling in
f1uence. The identity of the buyers and
their motives remained in doubt
The sundry opinions on the subject were
of an accumulation for new control a re-
newed speculative movement by powerful
| interests on the long de Of the stock, or q
mere manipulative movement in the market
to drive in shorts and make an advan-
| tageous market for dsposing of further
holdings. 49,.
AAISuSc 4utcTeSC pcaQ1QQ.
On the stock exchange the trading in
Reading was watched with the greatest in
terest. There was further short coverings.
but otherwise the buying or selling gave no
hint of inside development. Operations in
the stock during the first hour aggregated
about $4,000 shares.
Henry c. Prick was at his office in the
Trinity building, but refused to be inter-
viewed At. Mr. Harriman's office it was
said that he was expected there at noon.
Mr.. Harriman's associates at Union Pacific
Headquarters said they had no knowledge
Of any Reading deal.
j. J. Hill was asked to express his opin-
ion concerning the Reading matter
Il know nothing about Reading, and I
don't want to know anything about it." he
said
Hartman Interviewed.
E.. H. Hartman arrived at his office
shortly before noon.
Don't ask me anything about Reading
he said. Don't place me in a position
where 1 have to talk about that. 1 don't
want to say anything about it."
Mr.. Hartman said that he was well sat-
isfed with his visit to Washington. He
thought the administration had arrived at
the conclusion that more attention and
consideration should be shown to railway
matters.
Regarding his views on the general situ-
alton, he said:
I'VE all make mistakes; we sometimes
have to back track. I've had to do it,
Mr.. Hartman went on to talk about the
enormous sums of money put into railroad
improvements. saying that his own roads
had spent something like $25O,OOO,OOO and
that the country as a whole had been i'm
mensely benefited by the developments Of
the railroads.
expected to visit Washington again shortly
by appointment with President Roosevelt.
Mr.. Prick was met 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 except
that 1t is a pretty good road"
Weakness in Morgan Stocks.
Extreme weakness developed In the Nor
gan stocks after II O'clock The drive
brought out immense, amount of Hquida-
ton, and the precipitate fall in the prices
of Erie and the Southern railway stocks
caused a relapse in the general market.
The western group and Reading responded
to support after time, and the market was
steader at O'Clock.
The chief losses were Southern railway
preferred 6ss the common 4, Erie 3, Atchi-
son 2h. Baltimore and Ohio, Chesapeake
and Ohio Erie first preferred, Kansas and
Texas, Mexican Central, Rock Island, At.
lantic Coast Line, Amalgamated Copper,
United States Steel and Smelling ] to IN.
sold 14a higher.
Narrow fluctuations and dull trading had
thrown the midday stock market into q
condition of monotony. which was broken
by violent falls in the Southern railway
stocks and In Erie, important members OF
the Morgan group of railroads. There was
a perpendicular drop Of 6% In Southern
railway preferred in the common and 3
In Erie. U. S. Steel also responded with a.
decline of a point. The market weakened
acutely, and righted itself again with tho
cessation Of the pressure on the Morgan
stocks.
Rally Carried Up Pacifics and st. Paul.
The rally carried the Pacifics and st.
Paul to the highest of the day. Attempts
to market stock at the higher range Of
prices disclosed an insufficient demand and
the market again weakened.
Atchison and Reading got the worst Of
this selling movement, the first named
yielding 3A and the latter points. Buying
for both accounts again stinened prices.
Southern Pacific moved up over yester.
days closing and Union Pacific q