New-York tribune., 1908-08-02
The Financial World.
THE TRIBUNE'S FOREIGN NEWS ms

The stock Exchange has had a strenuous
week Activity with buoyancy made records
not hitherto known for a long time Perhaps
II has to be admitted that In very large major
fly transactions were professional represented
merely the gambling performances Of Board
members Yet II would be quite apart from
the facts TO tfleorize that there has not coma
into the situation the element OF outside buy
ing. for though no commission house is over
taxed with new business. IL becomes very clear
10 any examiner that there Is Increased puois
patronage In many parts Of the market Par
,fcuIsrlv Is this true of the metal group. The
buying which has proved profitable IN United
States Steel extends now to securities Ike thoss
~ the Arnaigsmated Copper Company. the
American Shelters and lesser ones In tnsss
latter properties il Is possible that there may
he some over confident commitments by peopls
who gain their knowledge from qussi official
sources AS 20 Amalgamated Copper. how
ever. one development of the week had thor
orsh going verffcations-in so far as the metal
market itself is concerned buyers have oecorne
much more conspicuous than the sellers are;
actual consunptfve demands rush into nsv con-
sequence. and there Is the quick result of an
advance In the market price Of the metal which
promises to extend still furtner- me great
Calumet and Hecia Company w1tndraws In
deed wholly from the market as seller Tor
early deliveries. And the biggest industrial
user Of copper I'm New England directed It's
buying agents at the close Of the week 20 en-
gage further purchases even az substantial
Increase of their bids. Developments like these.
of course are not debatable as 70 their signif-
cance and the bearing 81 them upon metal mar
ket prices
While from myriad sources come protest that
the market in It's buoyancy Of last week vas
abnormal and cannot last. but must have a
serious shock and setback. any review OF the
current situation leaves agreeable impressions.
A trade revival is indisputably in progress.
Nothing tremendous Is yet recorded. But tbs
trend is positively in the right direction Mer-
chants and manufacturers are both feeling
brighter
And asricuIturaIIy the country is in phenom-
enaI good fortune Wheat is harvested A
great crop is reaped for which there Is urgent
demand at high prices Corn IS prosperousiy
maturing. Cotton Will score a bumper yield
All minor crops are in happy position Herein
is sure, deep foundation for legitimate pros
perity.
Money market conditions remain all that ean
be asked for by any Wall Street interest de-
sirous Of improving values. Crop moving de-
nands will come this year into no collision with
an Eastern financial strngency In every es-
sentiaI particular banks are stronger than
before in their history
while strength has this week prevailed
throughout the whole Stock Exchange list what
was more notable than aught else was that the
stocks chiefly conspicuous and chiefly buoyant
were those with which the name Of E H Har-
rin1an is associated. Wall Street has sud-
denly lifted Mr.. Hartman upon throne His
name is heard all the time and eveTyFhere. used
to eonture with like nothing known since the
dominating but lesser day of Jay Gould Ihey
who used to grill him. they who only condemned
him ioin loudest now in the chorus OF Hosan-
mas II NAV be suspected that some OF this
exceeding adulation may not be quite sincere.
But there is lots of IT, and it's vOciferous Eacn
day some new Hartman deal is announced,
some victory won. some additional corporation
grasped And to the rhythm OF II all the STOCK
market advances upward as safly as II every
Hartman effort and every Hartman accom-
plishment were just merely for the pubic JOY
BUSINESS.
Mr. Hartman at the end OF the week teasting
nnon the financial remains Of Mr.. George j.
Gould OF the abounding bulletins touching
this two three have hinted the truth. Ou'
most all have been grotesque and ridiculous:
many of them obviously inspired by ant1-t5ould
malice That Mr.. Hartman and Mr. Could are
come into intimate corporation relationships IS
tr,ie Mr. Hartman enters some of Mr. Goulds
CORPORATIONS Mr. Gould will return 70 some OF
the Hartman drectorates-there is in snort an
end TO the controversies and the rather imp
war" which the two inanciers have been Wag-
ing against one another The Western PACING
ceases to be a Pacific territory bugabOo: anu
wabash snarl in the East with it's Pittsburg in
tricacies is ironed out What comes 20 pass
must please Mr., Hartman immensely, To one
ceeding difficult to find reason why Mr. Gould
should not be similarly pleased
Union Pacific has been making some new
records Not one Hartman stock has Jagged
During the coming week they may all be ex-
pected TO do still better-if confidence may De
given TO the assurances of those Wall street
interests that have had most to do with the up
ward swing
For one property which upon the Stock Ex-
change is now put in the Hartman hst-Bau-
more and Ohio-there are exceptional reasons
for expecting marked improvement Inc Seope
of Baltimore and Ohio operations is 70 oe soon
vastly broadened- A direct alliance WIN tne
New York. New Haven and Hartford is even
forecast And there are intimatlOTs that tHS
Baltimore and Ohio. rather than the New 1OIA
Central may become the proprietor OF the OI
tario and western lines. whose rich PenEsyIt- P15I
vanfa coal properties can be made more qllch,,S
and more proftably productive through baiu-
more and Ohio development than py the 49,
Haven Company itself-the taking over OF rs
Ontario and Western being lncldenta! 70 =.
an intimate traffic combination as would give %
the Baltimore and Ohio a New England -. -
which il hitherto has not been able TO appIOSnSr-
One suggestive statement has il that WIN vi
Har-fnians sanction) certain fnanc1ers OF u
r11ence in the New York New Haven and HarII-
ford system have taken extensive oIocHs s-g z. =,
tinore and Ohio stOck-much of the ouyins
the past week attributed 20 this character -
absorption With the general market connh1.as conI.a
strong Baltimore and Ohio stock may De s00N
commanding premium once more
AS to Ontario and Western. whatever nay
be the outcome of Baltimore and Ohio plans
better market price seems certain. anyway A
market is practically clear Of floating s'o0A
The option which the New Haven railroad mas
executed ties I'D completely majority OF 'ne
shares for all the rest of this year Ana tnNS
there develops an extraordinary specuiatIve ~
portunity for safe operations upon the ouSLl9
70 as situation