Omaha daily bee., 1908-07-29
new YORK STOCKS AyDBONDS
Market Rises After Publication Of
Judge Taft's Speech.
OTHER DEVELOPMENTS AID RISE
Hartman PaciHcs Declare Usual Div
idends--Prospective Review of
New Freight Rates Has
Little Eject.

NEW YORK. July 2s.-The speculation
IN securities had a good deal OF material
available for the formation Of conjecture
in the events which we're expected 70 oc-
cur in the course of the day. Those in
cluded the delivery OF the speech Of ac-
ceptance of the nomination for the pres
idency by the republican candidate and
the quarterly reports OF the earnings OF
the United States Steel corporation. There
was injected into the situation also the
official intimation that the Interstate
Commerce commission would invest the
reasonableness Of increased freight rates,
of which they might receive notice IN ad-
vance OF the complaints against those
rates There were furtherm2re' the
railroads and the surmises which these
gave rise to. The result Of these varl-
Gus factors was to stir up a considerable
degree OF feverishness in the stock mar
ket, which was reflected in the previous
fluctuations of prices.
in for an unexpected amount Of atten-
tion, The return from Europe of the head
of the system was followed by statements
for publication indicating that plans FOR
providing for $4,000. 900 Wheeling & Lake
Erie notes, falling due on August 1 and
guaranteed by the Wabash, remained 70
be formulated. This statement OF the
situation caused uneaStness and was res
p~onsible for the early violent break in
was received with the growth Of q con
viction that the settlement OF the Wheel
ing & Lake Erie note matter would in
volve the entry into the Gould properties
Of the Hartman interests. Another line
regarding the new alliance was indicated
by the strong tone of the Erie issues.
ADVANTAGEOUS arrangements between the
Erie and the Gould eastern outlet pro-
iect were inferred from this movement
dividend on the Hartman Pacific and in
advance of the usual period and the an.
nouncement of the early departure OF
Mr.. Hartman on an extended vacation
trip kept alive the suggestion of urgency
in the working out 81 the projected ar
TRe determination implied by the state
ment of the Interstate Commerce commits
sion to oppose increase in freight rates
was attributed to the inspiration Of the
chief executive and was the subject of
some trouble in the comment Of the finan-
cial district. Much has been based on
the ability Of the railroads to bring about
n higher rate of compensation for the
transportation services as a method OF
extrication from the pressure caused by
present contracted earnings. The aTNlety
on the subject. was not of long effect N
the stock market, as the tone Sraduallys
became strong. After the appearance or
Judge Taft's speech of acceptance prices
generally reached the highest of the day,
year in some cases, including United
states Steel, the copper and mining in
dustrials and the Pacific railroad stocks.
Reports from authoritative sources
pointed to the substantial betterment or
the health Of the copper 9arket; az WAS
report would not be published until after
the market closed and IT was counted
upon hat any unfavorable showing IN
the report would be accepted as past his
tory. 1t remains to be seen how the fact
| will be digested that untitled orders on
hand on June 30 had fallen to $4,000
tons, a falling off Of 452, 900 tons from
the March 31st showing and the lowest
tonnage on the order books since the Sep
TENDER 30 report in 1904. News from
the crops was favorable. Profit taxing
took something from the extreme advance
in the late trading.
Bonds were irregular. Total sales par
value, S2,43O. 900. United States IS reg
i~stered advanced a per cent on call.
Number of sales and leading quotations
IN stopkS were aR follows