The Washington times., 1908-05-10
INFLATED PRICES
AID NANIP ULATORS
Profits Are Being Taken
by Quick TranSac-
tons.
Hartman Held Responsible
for Condition of
Market.


all influences that would otherwise have
tended 10 take fall out of the market
and turn values the other way. one OF
the foormen in d brokers' office took
a philosophical view of the matter. He
said:
WHAT'S the use of bucking il 50
hard? We know that influences, as
We understand them. are against an ae-
tive, advancing market. but II YOU can
follow the banner and make few hun
dred dollars each day. why nOt?'
II the stories that are circulating up
and down Wall street. today. are half
true. the commission houses have been
playing fast and free with the stocks
that their customers have bought on
margin and some that have been bought
outright, and this dishonesty, TO call
Il by the mildest name in the lexicon
IS responsible for the big demand for
stOcks-a new brand Of shorts cover
ing
But back of it all. the fine handiwork
n one Edward Fl. Hartman and his
associates shows up in good shape
Union Pacific is going 10 announce a
big bond issue in the immediate future
IL is not 10 be expected thar this an
nouncement viii be made without co.
announcement that some syndicate
stands ready TO take Them on sight
But tie market must be held up against
the sale of these bonds. and Mr. Harri-
man holds it up.
A sufficient following has aided him
IN The advance. and part of il has sold
out two or three times a day. only to
set i'm again on the first sign ofstrength.
not o. weakness. for this market is not
influenced by ordinary influences.
Hartman Responsible.
Ask the brokers what Influences are
responsible for the big rise in stocks.
and they will answer. Hartman and
ime crops. But Trey generally add
easy money"
Bank clearings are only per cent
Jess than they were last year a. this
time. this being brought about by the
activity in New York securities "A spIen-
did demand for bonds and stock specu-
lation Railroad earnings the market
standard in ordinary times. show a loss
II 10 per cent for three weeks in April
these figures being greater than for
any time during the year The loss
has varied from l. per cent I'm jan
gary 10 1916 IN April.
"A few mere steel plants have re-
sumed, decreasing the number OF ul-
employed; shipments Of shoes from Bos-
ton are of nearly 80 per cent; failures
are somewhat less and the weather all
over the country has made bad trade, "
SAYS Henry Clews.
Stocks have advanced 10 to 81 points
above The panic level and strong ef-
forts are being made TO force them
stlu higher. Of course. in the present.
the advance has been prolonged by
powerful manipulation.
There's the situation in n nutshell,
The stock market IS under full sail for
higher prices. with magnificent manipu-
lation. and there are many getting
aboard. II they even up over night,
then all may be we'll but carrying
stock over from one day 10 another is
dangerous. because this manipulated,
false market can not be held. Hartman.
even Hartman, and Frick, VINO is nam
ed as being with him, must let so
some time. or take sufficient stocks TO
break their banks Whether the pro
posed advance in railroad rates is part
of the scheme TO carry stocks 10 much
higher prices remains 10 be seen. but
enough has developed in Washington 10
show that the Government viii not per
nit the advance without objections.
Railroads May Cut &.
II would look as II it We're up TO the
railroads of the country TO do as others
are doing and cut expenses to the bone
Any other plan Will arouse anita Sonism
Onr has to be up betimes to see any
more clearly into the political situation
that he could a month ago. II lis. IL
anything more clouded. The crop out
look is fine. Therein is another good
feature and trade conditions are ad-
usting themselves in an encouraging {
way
The weeks gains have. been consid- !
cradle in stocks in which Hartman
has but little influence. These are Bal /
timore and Ohio. Chesapeake and Ohio. /
Norfolk and Western, the Gould stocks !
Eries, aiiG the Morgan stocks. This can
be accounted for only by the following
the minor stocks are enjoying on the
upward movement In the active leaders
That St Paul should be made a lead
er has occa stoned much comment. 1t has /
been felt that this company has more
than its share of troubles as a result |
Of its extension. but Il has been lead
err So mas Reading. the latter under a
fine bull play. The iadustrials~have not
been neglected. All Shar1nZ IN the gen
eral Strength of the list.
The gains amounted 70 24s0S1z points |
Reading being the leader. while there
were many improvements for the week
OF 2l4 20 points with practically ev-
erything on the list the minimum high I
or than last week. and some even high !
or than the average. Delaware and !
Lackawana and Western. and Delaware |
and Hudson. two high-priced coalers |
made sensational gains
The future OF the market is uncertain. |
The market follower. who takes his
profit quickly. may last The follower
who pyramids and holds on, viii, per-
haps. live to regret 1t.
But natural conditions are against a
continued upward movement. EXCEPT for /
easy money and crops Hartman and
his following are for H.