The Washington times., 1908-09-06

/ Union Pacific. have paid their regular
dividends on time, and carried a goodly
balance to their surplus account
Just at present. Mr.. Hartman is the
Overshadowing figure in the market TO
the obcuring of every one else He has
the situation well In hand and is work
ing as usual toward an end that will
develop in good time. But for his at
tiJude there is but little question but
what the approaching election would
give the bears power 10 obtain control
and an inactive market until after the
ides OF November.
Just what Mr. Hartman is after re-
mains for the future to develop. Some
thing favorable 70 Southern Pacific is
expected, and the daily advance in the
stock, which carried it TO the highest
price Of the year, is taken to be but a
discounting Of the good news. New fin
.ancing is accepted as the most probable
explanation Of the situation.
Despite the reaction. Southern Pacific.
made a net gain for the week OF rs
on the common stock and Union Pacific.
also making a new high for the year
touched 1915 or 2lk better than last
weeks close.
Hill Stocks Coming
Because of their excellent position, the
Hill stocks were naturally expected TO
come to the front IN any rally on the
market, and there was keen disappolnt-
ment that they did not. but Mr. Hin
was not a Wall Street factor, and yet
in the final dealings Of the week, they
both showed up well, Northern Pacific
with l5s gain and Great Northern with
rs advance
Reading was one Of the active and
higher market leaders, people buying
il freely on a scale 40 points higher than
the low point OF the year. The street
confidently expects something good IN
the way Of news on Reading, but is
not quite certain Of its nature.
United States Steel Corporation shares
have been active TO the extent of 21.000
shares during the week, and in the pre-
ferred stock a new high was establish
ed for the wear. Business IS improving
and the feeling grows apace that the
railroads win soon have 10 enter the
market as the largest kind OF buyers.
The Improvement in building is suff-
ciently pronounced to give the struc-
Iural steel mills plenty Of business.
SmeIter lost 3A net on sales of 208.-
400 shares. but this loss was exceeded
by 32t points on the low day. so that
the close was comparatively strong.
Big Bond Sales.
Bond sales have been moderate. but
the tone of the market was very strong.
Comparatively light offerings and a
good demand were the features. The
sales were S2S. .055.000. and the prices We're
practically al par value for the lot The
action of conservative investors is large
ly shown in the fact that the bond
sales from January /, 1903, total a face
value of S596,lS9,G0o. as compared with
S29I, ,0l4,000 from Janury ]. 10 equal date,
New High Records for 1907.
The following stocks have made new
high records for the year during the
past week:
Am, Agr Chem. m..----.---.--.......--. "a
Am. can pI..---..-- .---.-..-.-...s..-.-.- u--s
Am. Cotton on pf---------------.---.-. 81
Am. MdlJ..--.- -.--.-...-----....--. =
Am Malt pT-....-..s...--.-.-.-..-- 45
Am sugar.. OBSERVATION-DISCLOSURES l5l94
Am Tel. & TeI.-.......-........... 1314 q
ALCllSDn pL------. tJH2
Baltimore & Ohio................-.. 975s
Brooklyn Union Gas......--..-.--..-- l3S
Brunswick ------------.----. Is
Canadian Pacific 4th pf-----------.-- 1I3
Central of New Jersey POS
Central Leather pf..........-......... 80
Chicago Northwestern. n........-...... 1637s
Colorado Fuel & IrOu-................ IS
Colorado & Southern 1st pf.-.-...-. 65
Colorado & Southern 2d pf...-.-.-. 59ls
Erie ....................--.... 255s
Erie "a pI........s..---.. .,ss.s..s..ss.-s -
International Pump pf.--.-...-.---.. S3ik
Kansas City q Southern. 27s4
Kansas City q Southern pf.......... 6lzs
New York Air TBTake.......-....-.... S3A
n. Y. & y. J. Tel......-........-.-.. Il5lb
Norfolk & Western. 1875
Northern Pacific eth pf.............. 1871
c, c., c. & St. L..................... n
Railroad Securities 81
Railway Steel Springs pf..........-- 1O0s
RvdClng --------..---.- --.---------.-..-. l3l
ST. Louis q Southwestern pf....... Az
SlOSs- Sheffield Steel & Iron....... coz
SlOs5- Sheffield Steel & Iron pf...-.. 103
southern racine. fic..,s'.-..,'',.,,,..,.s. 1894
Union Pactfic................. l65L
Union Pacific pf..............,.,...,.., s7I5
United states Steel pf-..--..-....-.-- 1I2Jh