The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-11-21
HEARD ON THE BOURsE.

New York, Nov. 21.-General market
in London firmer without much feature
Bank OF England rate remains I'M
changed.
Certain well informed people are
buying Smelter for a big advance. We
think that after some more backing
and filing the general market Will
improve to the extent of ten to twenty
points from the bottom, but a genuine
bull campaign need not be looked for
at present.-Ridgely.
London sold Erie down and there is
a rumor that the public service com
mission viii not sanction the scrip
issue. 1t seems, however, unimport-
ant. There is a big borrowing demand
for stocks. particularly St Paul, Penn
sylvania, Steel and Union. Specialists
bought 1000 Union and Steel, said to be
a short covering. I think the market
oversold.-Miller
Developments this morning are not
very encouraging for the bull, as to
immediate movement largely because
Of the accommodating evidence of the
conflict between the financial ana the
political powers. The American this
morning has a sensational article
charging the banks with conspiracy
again; this cannot but be unsettling as
to confidence. though it seems hard to
disturb confidence more than it has
been. The Herald publishes editorials
from all over the country condemning
in great many cases the new imitation
of currency. The attack on Roosevelt
by Justice Brewer of the supreme court
on ,ire l
source, as it may be considered, ought
to have weight for favorable compro-
mise provided there is such a thing
as compromise in Washington. The
Pennsylvania cancellation of orders for
locomotives indicates what the indus
trials may expect for time, and this
feature of the trade reaction is one
that keeps shrewd purchasers other
wise willing to buy high grade rails
on reactions from investing in the in
dustrial list.-Financal Bureau.
b. & o. October net earnings de-
crease S142.37S, and for four months
decrease s278.732.
President Early of the St. Paul says
for the first time in long period calls
I for ears are fully supplied
I
i port on present movement now amounts
to about s7O,5oO,oOo
Car Foundry may pass common divi-
/ dend early in December on account of
lack Of new business. Strong demand
/ for stocks in the loan crowd.
Washington has given out no fgures
on subscription to the new treasury
issues. but fair amounts are reported.
western roads report big sIackening
of business on lateness of crop move
ment and money stringency. Twenty
7 four roads for second week Of Novem-
/ Der show average gross decrease of
1877 per cent.
] Local professionals sun very bearish
and selling wheat-White.
No rally of Importance can be ex-
reeted until present Gqufdating mar
ket has run its course or is suspended
1t should be kept in mind. however
that the short interest is CROWNS and
that the time when financial relief
measures win become effective is draw
ing nearer.-Dick.
Conditions are still unsettled and
there is q disposition to await indi-
cations of pronounced Improvement IL
money conditions.-Brown.
/ The situation and outlook Of tho
general stock market from our View
remains unchanged from our previou.
advices-McIntyre.
we cannot change our opinion thai
the good rails are cheap. While after
every panic there is TO royal road K
success for the bull, we continue L
feel that the long position offers tht
real OBSERVATION-DISCLOSURES.
No better chances for investors wa:
ever present. Arrangements have
been made by New York banks to rusl
bank note circulation TO the interior
by millions This will help all th'
i country institutions and will be speed
lily favorably reflected in all CONNER
cial and industrial circles. Good buy
ing Of coppers and steels win be il
evidence. The Rock Island. interest,"
look for quick recoveries in their is
sues. Keep long Union and buy L s
n. for turn