The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-09-08

NEW YORK. Sept. S.-Conditions over
the holidays did not develop anything
of sufficient Importance TO effect the
market for securities. The feeling on
The Street was very cheerful, and the
bull gossip continues, some with fair
show OF being next door to the truth,
and some as wide apart therefrom as
possibilities permit. One of the latter
reports has II the big people Of the
Street, thereby meaning the Hartman
cohorts, have decided TO advance the
price OF dividend-paying stocks TO ba-
sis even with current rates Of interest
on money. If this was true. previous
advances would pale before the Wild in
aation that would follow. But It isn't
Business men are optimistic on re-
ViVal in trade. but IL should certainly
be the part Of wisdom TO act conSerVa-
lively until after the election. Perhaps
stocks are going 10 continue aoVahclh61
but ii is next doc. 20 a certainty InaL
there will be q serious reaction before
the November elections, as II would De
exceptional for the market 10 pass
through a Presidential campaign with
an element OF doubt as TO result, with
out Il trimming OF sails IN anticipation
Of a possible squau-
It is easy to manufacture DUH news;
Money IS easy. Few people care 10 Atll
stocks on purely manipulated market
and the big men are In control. MI:
Hartman is said 10 be tne author OL
this sentence. THE OCTOBER pane
scratched the surface only, ana mas
caused no harm" This IS an optimistic
view OF the situation even year since
the disaster that caused much uneasl-
ness and actually wiped out fortunes
and not a few lives There are TOO many
scars from the scratches in the lnuuS-
trial world today for the treatment OF
the panic with such hgntness- - re
ports and easy money are the lnnueHCee
that are aiding the upturn. Industrial
VepOrtS Indicate better conditions anu
gradual Improvement, Admittedly the
chief bunker in the situation is the
coming election, and thereafter the tact
that stocks are largely held by rev
people and not distributed as they
should be. This last factor may be cor
sfrlered a strong feature Of the SITUATION
In that the big men will not have many
lambs TO shear through going aIleI
their stocks but there is StlI plenty OF
stocks held by investors and bought by
traders trailing the big Ielo"s-
STbere were but few active stocks In
The list. with Southern Pacific, Union
Pacific and Hin stocks In the lead, win
Steel common making a good eHort 70
keen TO the front on the theory IhaL
some time within the next ntteen
months the company will return to the
old dividend rate Of 4 per cent. Ihe
preferred stock was also strong and
Northern Pacific and Illinois Central
made the best gains OF the morning
IN the Rails and the Steels in
the in1ustrjals The Rails mentioned
we're q point higher, Steel common a
point and the general market about
one-half better.
AS the session advanced IT became
evident that there was a division Of Ia
. Eor on the part OF the market manipu-
-Iators, Hartman. William Rockefeller,
Perkins. and FTick acting as special
fists IN Erie, Southern Pac'hc. Hlll
shares Union Pacific. and Steeis. Frick
and Perkins attending to the latter.
while Rockefeller looked after Harri-
man stocks and Hartman boosted Fries
and watched the whole market closely.
While the evidences Of the mdnipula-
ton are too plain 10 be misunderstood.
conservative traders hesita5e 10 follow
Il and only professionals are taking
their chances of being able to get out
before IL suiteth the powers that be to
stop for a breathing spell
At 1870 this afternoon the list was on
The top and very strong. IL is not prob
RbIes that the untavOrable crop reports
will have any erect on the situation
Illinois Central was a favOTite. on an
advance of point Great Northern
added another point TO its Friday
closing price. Southern Pacific did not