The Bridgeport evening farmer., 1909-08-28
HARTMAN STILL
 DOMINATING WALL STREET
Proposed Fqotation of Railroad Loans
 Large Steel Orders Placed
Ry Reginald Burfon.l

I s =. q (By Reginald Burton.l
 New York Aug. 2S.-Disappointment felt at the willingnesss or inability Of Edward H. Hartman to proceed with the discussed plans for the segregation of the investment assets or the Union Pacific Railroad Company and for increasing the value of the is- sues of the Hartman Paclfics. togetn-
 CT with the fear that his greatly weak ened condition may compel him to re- tire permanently from the active man agement of these properties, if not
 from business of every character, h.
 duced many holders of the stocks to
 indulge in heavy unloading operations
 in the New York Stock Exchange dur
 ing the past week, thereby demoraiiz-
 ing temporarily not only these securi-
 ties but. also numerous other issues
 in the railroad and industrial groups,
 which at length began to erumble un-
 der the extensive selling pressure The leading bankers and financial interests
 feared to offer their support until the
 force of this wave Of liquldatlon was
 spent, but they plucked up sufH courage to check the selling movement
 by making large purchases in almosr
 all parts of. the list. Union faclnc
 naturally was the worst sufferer from
 the raids made by the bear element
 as the special incentive for raising it's
 price to higher levels has disappeared
 with the statement made by MT. liar,
 riman that he had no intentfon oI oo-
 f-
 regard to this roads segregation or
 assets plan Big blocks of this stock
 were thrown upon the market and no
 material part of them was taken even
 by sinsiders'' Southern Pacific nat
 uraIIy sold off heavily and especially
 rabid attacks were made on Steel common, New York Central ana Ine Fries, all of which dropped sharply until some support developed.
 The time draws near for the notation of very important railroad loans. The order of their appearance cannot yet be definitely outlined, but it is believed that the huge Gould application Tor money to- rehabilitate Missouri Pacific and allied lines will open the fall borrowing season This issue may as- tonish Wall Street by its size Then Pennsylvania will sell not less than sS0 OO0. 900 and perhaps upwards Of S1o0. GOO GOO stock to take up the ESQ., GOO, GOO obligations that mature next year; as was first stated months ago, the bond issue or1glnally planned nas been discarded in favor of stocks. The Hartman system will by and by need additional funds for it's incessant ex. pansion The Vanderbilt roads must rather than later. These four. systems are likely to provide for not less than s25O OOO, ,00O before many months pass. The wholesale foreign borrowing by | our leading bankers has sundoubtediy been influenced by the known require ments of our own enterprises, for ob- viously Wall Streets demands, plus the needs of the South and West, could not have been exclusively sup oiled at home without reducing sur plus funds so seriously that heavy cor porate and Government borrowing | ,ould scarcely have failed to bring ] bout monetary stringency, which in turn would have g-aNely interfered | with the stock market plans of our inanciers. It is not at all certain ev- ,n now that the capital required by ,ur leading railroads can be raised materially raising interest 'ates
 Huge rail orders for 1910 delivery and ! record breaking pig iron production were the features of last week in the ron and steel industries. The Penn ,ylvania Steel Company has received m order for Is, GOO tons of steel for structural bridge work from the New r 1ork, Westchester and Boston Railroad Company, which is controlled by the New York, New Haven & Hartford. This order will amount in the aggre- rate close to $1,5OO, 900. This company las also received order from the New york Central for steel frogs and
 witches, amounting to several hum fred thousand dollars.