The Washington herald., 1908-01-05
WALL STREET NOTES
Northern Pacific Most Active
Stock Saturday.
RUMOK OF EXTRA DIVIDEND
Directors Meet Week After Next and
Many Buy Hoping for Favorable
Declaration at that TIme-Reah-
ing Fails 90 Reach Par as Was
Predicted on Monday Morning.

New York, Jan. 4-Northern Pacific
was the more active stock in to-day's
market for once taking the lead over
both Reading and Union Pacific an this
respect. Speculation in It, as on previ-
Gus days OF the week. was stimulated
by rumors Of a forthcoming extra divi-
dend. and revival of the old story of
the sale of the cOmpany's equity IN
the Burlington to the Great Northern.
The directors meet week afte next,
and It is the expectation Of many who
have bought stock on the extra dlvi-
dend rumors. that an extra disburse-
ment will be declared then. Many
old followers of the Hill stocks, viii
not be disappointed, however. If no ex-
ira disbursement is made at this meet
ing. Previous experience has taught
them 10 tie patient They had TO wait
two years before the beginning OF re-
ports Of the ore deal. and the signing
Of the papers. and on other cases have
been impressed with the lesson that
HIll melons ripen slowly
The Burlington deal has been dis
cussed more than year, and it may
be that the officers Of the Hill roads
have had time 10 remove all the diff
culties in the way OF its completion.
The only positive prediction that rs
made IN one well-informed quarter.
nevertheless. is that the transaction
will be completed and the extra divi-
dend paid before the expiration OF the
subscription period on the new stock.
The last installment is due January J.,
1909.
If il is true, as reported that the
Union Pacific has sold out Northern
Pacific stock and used the proceeds for
the purchase Of subscription warrants.
Mr. Hin may not have the pleasure of
conferring upon Mr.. Hartman any OF
the profits from the Burlington. and
Mr. Hartman may show Union Pacific
stockholders another instance of the
decline of his cunning in stock market
operations in their behalf
The tip on Monday that Reading would
reach par by the end Of the week failed
10 make good. On Friday the stock got
within a half point Of the tipped price,
but ssl4 was the high rate to-day, and
AttN 1-p1E hfi- at 80 Il AitliiL aFaE DaA ilLt
DAY. A great deal OF pT0nt-Iaking had
to be taken care Of to-day.
The advance in Delaware and Hudson
received an impetus from the November
statement of earnings in much the same
way that the Reading movement was as
sisted in the early part of the week The
stock sold up TO and closed at 1914. a
gain Of more than eight points for the
week. 1t was considered noteworthy that
OF the roads that have reported Novem-
ber earnings only these hard coal roads
have shown an increase in net over the
previous November II is well known
that the mined supply Of anthracite was
practically exhausted By the rigor of last
winter, and that few dealers carried over
large supply The result is apparent
now in increased earnings from the coal
business.
The bank statement did not make good
the predictions that IL would show the
deficit cut in two but the figures were
not far away The actual reduction was
=, $50, SEQ leaving deficit I'm reserve of
81. 800 $50 The Increase Of cash. s.. S.000008.
was greater than that indicated by the
reported movements OF money and some
bankers said il was due IN part to a
considerable return Of boarded money.
Private hoarders. like some interior
banks. appear TO be putting more money
into circulation daily. and since the
boarded bank. as well as private money.
came out in greater amounts IN the clos
ing days OF the week, il is obvious that
the statement was based on rising aver
ages. The actual condition Of the banks.
il was generally agreed, is better than