Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1908-12-28
Some Fear it Presages Ant
gle Between Railroad
OTHERS TAKE OPPOSITE VIE
Think it Means Taking Over and
Strengthening Weak Lines,
EASIER
FINANCIAL MARKET
First OF Year Requirements Of Money
Likely 60 he Met without Any
Serious Disturbance to
Business.

NEW YORK. Dec. 27.-The closing OF
the stock exchange last week on Thursday
evening to remain closed until Monday
morning made the week a short one in
financial affairs. the banking business on
Saturday proving largely nominal with the
exchange not In session. There were de-
velopinents OF Importance notwithstanding
the shortness of the period and the sud
den shifts in speculative sentiment in re-
gard to the same Identical circumstances
indicated rather unsettled state OF opin-
ion This fluctuating state OF sentiment
was fairly illustrated in the change OF
views OF the significance OF the Colorado
e. Southern purchase by the Chicago, Bur-
linRton e. Quincy. In the semi-demoralized
break in prices on Monday this incident
was made to figure as one OF the impeil-
ing causes and in the later strong re-
bound II was assigned equally the ground
for enthusiastic speculative buying. This
point of view was due to professed appre-
hension that this new departure in policy
on the part of the Hill railroad interests
might forestall a struggle similar to that
precipitated by the first control OF the
Burlington I'm the joint interest OF the
Great Northern and the Northern Pacific
which had such disastrous consequences
TO the speculative position in 1901. the
fact OF a rupture of old relations having
occurred between E. Hawley, the con-
Veyor OF the control OF the southwestern
property, and e. II. Hartman was made
10 seem to corroborate this. other cir
cumstances conduced to the break In prices
on Monday, the formation OF influential
opposition to the American Smelling and
refining company, bringing into hostility
~
Depends on Harmony.
The substance Of the testimony Of An
drew Carnegie before the ways and means
committe OF the house OF representatives
besides it's bearing on the tariff position
was interpreted as rather sharply critical
of other influential powers in the steel
trade and to outline q divergence of views
there which might foreshadow hostile acts
large factor In the hopeful spirit which
has grown up over the financial prospect
is the conviction that the most powertu
Of the great finaclal groups had beer
brought into such state OF harmonious
relations in the adjustments OF the havoc
wrought by last years financial crisis tina
insurance was secured against any destruc
tive hostilities for an indefinite time t
come. The sensltiveness of the market e
alignments is explained by the large par
played in former speculation by the as
sumption OF universal harmony. The mis-
givlngs felt In the early part of the weei
were shown to be largely dissipated by tn
subsequent rebound In prices. In this re
bound the alleged extensive plans of e. II
Hartman for readjustment OF railroad re
lations once more played an important part
although that gentleman's supposed seriou
illness was a cause of acute weakness o
stocks In the early part OF the week.
revised estimate OF the Colorado 4
Southern transaction saw in II a prelude L
other combinations along the same line
which would bring all the available south
western and gulf outlet railroad system
into combination with the different north
western railroad powers. This line OF con
lecture opened up an extensive field TO
speculative activity and was the motiv
for striking market movements In variou
y groups of securities. The assumed likeli
hood of those mergers presented attractiv
prospects for enhancement OF values ou
only by lncraaae OF earnings in new r'iS
tions. but by Improvement Of credit fror
the control 10y corporations of create
power The speculation in the fixed inter
est securities of these corporations wa
consequently as active as in the stocks an
price movement AS wide.
Bonds In Demand.
Il was this phase OF the bond marke
which accounted for its great volume durin
the week. The money market gave evidenc
by its tranquility and its rather easier ton
OF the renewal Of confidence that the en-
OF the year period OF extra requirement
would be safely bridged and the returnin
ease OF the period OF reflux in bank rS
serves after the holidays reached withor
serious danger Encroaehments on the cas-
holdings of the banks continued large, br
the early liquidation In the stock marks
and r,,nrlina nIIrariad frnrn out alda anmrce