Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-30
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK. October 3o.-"My opinion
is, says broker Of good opportunities for
obtaining the necessary data for his cen
ciusions. that the public Is going to be
trimmed on the short side OF this market.
We keep hearing that the public 10 not
buying stocks. and that is true within limits.
What we do not hear IL that the public 10
not little short OF the market and the
short interest Is growing. 1t Is a fact OF
Wall street experience that Il Is one OF the
hardest things In the world to get tho
casual traders. who make up the so-called
public In the market, to sell stocks short.
and the present situation Is all the more
surprising. My theory OF the beaashness
that Is af.iicting this class now Is that the
enormous decline Of 10000 h chiefly re-
sponsibie for It In connection with the Hit
erary campaign waged by that speculative
whiriing dervish up In Boston.
-
Men are going short OF stocks now who
never IN their ;4ves before sold share
that they did not own. know OF accounts
that are short Of stocks from 20 to 80 points
below their present prices. No professional
trader is guilty Of that. heard not long
ago of ono commission house that Is max
Ing enough money out of interest on Its
customers shorts to aggregate a sum equal
to a satisfactory total OF commissions In
fair amount of business every week. cI-
pect to see much higher prices for stocks
next year. and when We have them l sup
pose that this public short interest VIII
cover and go long"
large wire house writes to its cor
respondents:
I'VE have advised conservatism consist
tently for some time and even when II look
ed as IL the bull market had begun We
pointed out that the money market would
inevitably prevent any extended specula-
tion for the rise. We repeat again that eau
ton is still necessary. but every day brings
the market nearer to the point when an
upward movement Of large proportion VIII
begin. Stocks that are bought even now
with the purpose of holding them through
a short period Of uncertainty are likely TO
net very handsome profits"
-
Railroading east and west continues 1t
high pressure. Summarized statements OF
traffic conditions show that there is a trs-
mendous volume OF weight moving. with no
end to the amount pressing for shipment
Nevertheless. II is said. unless something
adverse develops. which Is not expected,
transportation officers expect the roads to
make good revenue returns despite the ex-
VI SUCH QuAutAieS VI
freight. The chief trouble lies Ia the large
cities. where yards are too small. In most
instances the cities have grown up around
the yards and left no room for the roads
to broaden out. and they cannot buy ad-
ditional room for tracks. At the moment
traffic moving directly to the west is larger
than ever known. The general business of
the western sections appears to be perfect
ly stable and without the boom aspect. a
condition which gives the railroad people
a good deal OF encouragement, as II assur6s
a long period of heavy business In the
northwest and across to the Pacific coast
business Is being carried on at an unprece-
dented rate. and the necessities Of the coun-
try growing out OF the prosperity. contingent
upon the large yields of all kind Of grain
cannot be satisfied by a normal movement
OF freight between now and far into 1903.