The morning journal-courier., 1908-09-19
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WALL STREET NOTES
Days Cautious Recovery
Turns Vigorous at the
Close.
LOUISVILLE. EVANSVILLE UP
Chicago, Milwaukee and st. Paul
Places Encouraging Order for
Rolling Stock.

~
The days recovery In stocks was at
first cautious; then. at the close, rather
\ yorous There was active short COW
ering" when the hour between 1880 and
$50 p. M. when the severe break has
gun in recent days, passed without
any new demonstration of the kind.
lie Morgan Hartman rapprochement
Nas ndustrlously used as an argument
/ the rise, as soon as the markets
tendency was defined. The Stock Ex-
t.ange itself does not attach great Sc
ricusness to the fact that conference
has been held, knowing perfectly we'll
q at the singular state of things In
/ lie finances made II indispensable.
But the outside speculator Is an mag
ipative person, and is much more In
c.ned to interpret such an interview as
q distribution of duties In the way of
restoring 1901 or 1906
Louisville and Nashville was the
+ ongest stock OF the day, on the de-
nal of reports that another dividend
ca, was contemplated by the directors.
'1ne semi-annual dividend was cut from
3 10 . IL per cent on June Is, and
To next dividend meeting will not be
Hold until December, SO that talk OF a
i, luction In the rate to per cent. was
Il arded yesterday as in any case
i mature The stock in the course of
I day regained SIS points of its s
point loss Of Wednesday and Thursday
there seems to be one explanation OF
tie recent decline, and that is that
p.ices were being hammered for politi-
oal purposes, 1t has long been argued
by good market judges that a break
d good proportions in the stock market
US the only cure for the apathy which
oAists IN the republican ranks. There
has 5een very apparent Increase in
Bryan enthusiasm In this section, as
Mr.. Bryan has come nearer to New
York In person. and consequently If re-
garded aB an election scare break. this
weeks decline in the market has had
the appearance of possessing timeli-
ness
Two shipments of gold to Canada
were made yesterday, one of 100000 by
The Royal Bank of Canada. and the
other of 100000 by the Merchants Ma
tonal bank II was thought that sew
eral millions will be sent out in the
course millions Will be sent out In the
course of the next few weeks, as the
Canadian crop movement Is now fully
under way and the Canadian banks
have abundant balances here.
In connection with the annual report
of Chesapeake & Ohio the fact Is point
ed out that the gross earnings were
larger than those of the preceding fs-
cal year by s46,411 and that, too, In
the face Of a shrinkage of Si03. 25l In
revenue from freight traffic. That loss,
however, was more than offset in the
increased revenue from passenger traf-
fic and in revenues other than from
transportation. The operating results
OF the road are considered an excel
lent tribute to the efficiency Of the
management.
There are few interesting develop
nlents in the iron, steel and industrial
worlds just now, but report which
~ very welcome Is to the effect that
the Chicago, Milwaukee and st. Pau
railroad has decided to place an order
for 5000 new cars, and that the bust
ness will be given out very soon. II
Is also true that other railroads are
b. ginnin gin a new way to inquire fol-
small lots Of cars The New York. on.
Itario and Western railroad has placed
al order for 5000 locomotives.
Min listing sl4,25s, 900 new stock on the
exchange, the Illinois Central furnish
ed an income account and balance
sheet for the fiscal year ended June 81
last that shows some striking changes
Compared with 1907 gross earnings
were smaller by s3,7SO,0OO, and mel
dropped off practically the same
amount "Other income" for 1905 how
ever, amounted to $6,715,00O, agains
only $2,S1S,00 for 1907, and the increase
Of So, 10000 was explained as Income
Incident to operation" SO far as Is
Known, the Illinois Central has acquir
ed no bonds or stocks of outside com
punles, and has acquired no new mile
age outside of the Birmingham exten
sion. The balance sheet shows de
crease of s5,OOOO0O from 1907 in proper
ty account, an increase of $4,000, OOI
In bonds and stocks owned and new
liability Of s25,590,0OO in loans and bill,
payable Nobody In Wall street coulc
interpret these figures.