New-York tribune., 1909-04-11
The Financial World.

Improvement. there came into the record not
merely the exhibit OF quotation advances. out
evidences abundant showed that the market IN
It's betterment was proceeding beyond recent
,,arrov, r7aninuIa+ive bounds-the public IS aCtu-
ally reappearing in Wall Street
Almost the onIv solace OF retreating bears is
the government report or Winter wheat SNOW
ing an apparent shrinkage from last years crop
Weld OF something over 60,O0o000 bushels II =
creditabIe 10 the intelligence OF Wall street thar
sracrIatfye sentiment refuses 20 take fright
Analvsjs OF the situation discloses no cause Tor
alarm Whatever Winter wheat areas @ Harr
been damaged can ne re-sown with ~ ~otneF c.ops .p
at tbfs early date to advantage-and that J1~y
will so be re-sown IS assured by the nlsh prioes
prevailing for all grains Not an acre "771 .
left desolate.
An inspiriting element I'm the situation Is ''a'
European financial sentiment begins 70 apprr-
cia+e the wholesome change here-indicated sig
nifcantIy by the purchases of our slah1a-I
stocks az noted in this review a week ago
Raltfrnore and Ohio and Reading. particularly.
having been taken within the past fortnight n
large volume for the account OF London ana
Berlin. -
II IS quite within reason Of course to view
these European purchases as TO some extent m
fuenced bv speculative interests-sellers OF 'P-
tion contracts rights TO call for the denver W
stocks in the futureD having obligated l'-Vl''
selves 10 deliver tremendous amounts OF -7'
tain American shares within the next 90 DAYS
Il is conservativeIy computed that E,hgilsH SP7
1,rators have committed themselves 20 coHlIA'-
cs +bfs sort that aggregate hundreds or thod-
eande Of shares Reading has been especldNy
o hear favorite abroad-and all the rest OF '"+
American coal stocks in lesser degree IL Ia
been argued abroad-just as IL has oeeH VIZ
erouslv proclaimed here-that Reading Va
hound to go to smash. that the Lnlted 9Ia--H
supreme Court would crush tins IeHeldsi- I5
Beading stock was sold short then ana 1p.--ol--
IIpon It's future sold then with tHe LL-O-T .
freedOm-Reading stock then a plZVL- - l..,.l-t--
pOiuts below where now tt sells Bear l7-'e,-
have been savage Gentry sense.- IS ana i5 E-isa5
enough to profess advance kno"ieust on -.5 -
states Supreme Court determination p.Ill'I7'
for their foolish affections
n is q curio situation wherein any oodl can
he r,,ada nervous over the possibility OF an af-
verse judicial decision whose utmost 49,
,o,,r5 ~, tn distribution Of fat cash diFldeh1
10 railroad stockholders
BaIffmore and Ohio has been assaIled on
pretty much the same lines a FN-lI-l-5 -
unlike Reading, it has so far merely SOU -4 $50
" firm II NAV be that in this regard a cIaIs,i
sttfruda is now due-ccrtainly II can De uepelL'
ed upon that the large and c0nfidehI Loi---
,,I,-,i,asas of r & g. stock now pitng up FeP-
resent an accumulation when N'utn ltol 80
been undertaken without the apProRal lloit 49, -
positive advice Of the foremost oaINI's '--
ests here
r-,ronasn sentiment is of course. somewhat
I inf
productfon-ccrtihed so extraordinary oE '"7
l,rrs7+f,, revealed bonanza discoveries IN th-
r~,r,e-rias of the CioIdfed Consolidated corpora
tfon IncidentaIIv the security market mere ne
e,f1e somewhat to reflect this particular deF
Cnnent bv increased market value rttD,L9u
CloII+iaId consolidated stock And at the rl'--
of the week there heard suggestive I----.'l
/ - rich new finds in another Western I.lnl!'-
| rrouartv the t4reeuwater group IN 'ali-'i PC
selling ON the New York curb AT only d iSN
| pennies a share one OF these GAYS Lllli'-''s '
| vestments viii not be necessarily 'ao''
In the new European frieudiiness for amer
| can securities may be found some eXplanaI-''
for the exceptional strength displayed this NeeN
bv Chesapeake and Ohio Transactions III ''-
stock have been heavy-and every day tHe "--
result has been market Improvement SoI--
| time soon there viii be announcement OF iesa
| peake and Ohio expansion plans mere -
| a roundabout system linking JHe 9--04 -
/ both the Southwest and the NoflAy'es- |1 ---
esDecfsI efficiency in the Northern -CenIral W---
| No forecast so far given 10 the puo-' 81
| nroaches what the actual exhibit VIII be
| I1aanzrhfre the HavIey energies are by no
| means .onfred 10 the Chesapeake and OHIO en-
/ terprise-for Mr. HaVIey's entrance into t'=
/ directory Of the New York city traction sitla-
zion is likely forthwith to be productive Of large
/ results. HawIey and his associates have H'-
/ vantrred suddenly into InterborousA- lA-s
,,,-. proceeded with quite their usual careful
I
millions only after series Of expert investiSa-
1 tions. covering months They went INTO l'.7o''
/ - T,olis and Western when that property no.
/ where had a friend. they went into Alton "A-n
/ 4 was despfsed utterly by eyerybodz ana So.
upon q similar basis of mlHlTnuIlS ana u.S.v
J ana discredfts. they ally themselves WIN i.
/ terborough. Alton sold lower Jnan ii.t--'5
I ou-h common does now =" eld io-e-' -N--
/ rruIees ther- be no virtue whatsoever IN t-T.-
Ia,- We are likely ~ SEE in this latest dCJu-~t-
zion the same character of revolution "Ni,a t'
| the earlier undertakings mas eStaoIlSIe- -.LN-
I and pyramided profits i--5r 'tol!Sti --.--
/ has been heavily sold short by stock ENc1an--
{ +es,Iars who may anv time be Stampede1 'l J--
/ discovery that Mr.. Hawiey i'm lnterooro 81 -
/ nor an ornamental director but director " no
/ wOrks-the director who with FTeSl1tHl l-1'.-
/ nov, represents actual IuJerborough control
/ ShOuts and HaWlry in lHterboTouSN are -
/ same HawIey and Shonts who retuvenaJeG ~
/ Caco and Alton Wall Street bears. by me oy'
/ dend tin August. They viii get notice officially
/ and soon.
/ New York and Southern banking interests are
/ making progress in plans for the corporate con-
I rentriatfor Of the cottonseed oil industry me
/ dominance of the American cotton oil Company
will he accumulated in what is proposed though
/ the lesser outside producers viii he als' Huc'
/ advautaged Preliminary To- comprehensive eon-
so1idation il - not irnprOba bic that the Amerl-
] can cotton oil dividend Will he u0aterlaltF IN
/ creased-as warranted by the recent large eN-
/ panSiOu Of net earnings Ihe ouo\dlyN ''. -
/ ton Gil stock this week Is, indeed, diTr'i-e '-
/ trfbutcd To the coming dividend incretss-
| During the ensuing week VIII probably @
witnessed the market r-vivjfcarjon of Mexican
| railway interests Mexican Central certificates
| and the new issues of the National Railway u
/ Mexico will coiucidentIy figure. the former ID