Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-15
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK. May 15.-About the most
confident convictions with regard to the
probability of improvement among the So
called low-priced stocks are those held
with regard to the prospects of Brooklyn
Rapid Transit 1t appears to be fact
that there has been large demand for
B. r. T. at or below 60. It has been as
serted that the company was in good shape
to deal with an adverse decision by the
federal Supreme Court In the franchise
tax case.
One Of the largest of the room traders
is quite a bull on the stock market. the
men are largely. If not almost wholly guild
ed In their operations by what they can
deduce from the buying and selling as they
see It on the board.
The trader in question says:
Il never in all my life saw such rotten
selling as there was early last week, and
the whole week before that 1t was short
stock. short stock everywhere and nothing
else"
An important factor. according to men In
the trade, in bringing about the condition
In Iron in which a slight increase of stock
in Iron Is noted, was the opening of Lake
Navigation which tended to take the United
States Steel Corporation out Of the market
as purchaser. Said a practical steel and
iron man today:
I'VE are not worrying about the so-called
evidences that production has >overtake
consumption. 1t Is a matter of fact that
there are buying seasons In the iron trade,
but they come three or four times year.
If you are not lucky enough to get your
share of the orders at one time, you have
| to wait until the next buying fit comes
Xxx
Very bullish views are advanced in good
quarters in Wall street with regard to the
fnflIra n Mayina ha securities of Next
can corporations. 1t does seem to be a fact
that the country is entering on an era of
industrial activity and expansion. and New
York capital is not largely engaged there
now, but with the improvement of the mon
etary situation in Mexico is likely to flow
thither in larger quantity. As likely spec
ulation the consolidated income bonds of
the Mexican Central are spoken of favor
ably in some circles. while the first con-
soHdated Is are suggested as a good invest
ment. A weil-infermed bond man says:
These bonds have now only six and one
half years to run-that Is, the principal will
be due July L. 1911. Presuming of course,
that provision for payment of these bonds
at maturity will undoubtedly be made,
owing to large interests in the property sub
Ject to the mortgage, an investment at the
present time would show a good return.
The prospects of a large increase in the
earnings of the Mexican Central. owing to
Industrial development and the establish
ment of a stable currency, are all factors
combining to enhance the value of the first
consolidated 4s.''
The ease with which stocks can be moved
up, provided little effort is made, seems
to indicate the concentration of holdings
II may be that in many cases the so-called
floating supplies are largely In the hands of
the pools but SO long pool liquidation
cannot be forced. the result is the same as
though the stocks were held by the power
ful interests of which the street likes to
speak, and In not few instances the pools
are constituted Of insiders. who have, as
rule, less to fear of the room market at
tacks than the pools formed of outsiders
The easy longtime funds on which stocks
are being carried make it difficult to force
pool liquidation.
The Pittsburg Coal Company, whose
stocks have just been listed here, is the
largest bituminous coal producer in the
country, owning 100000 acres of coal lands
and having more than $50 mines in opera
ton. There is $2S.711, 100 common stocks
and 500 42S.7O0 of per cent emulation pre-
ferred stock outstanding
Among the investment offerings by T. A.
Mcintyre & Co. are 100000 c., r. l. and P.
first and refunding As at a price to yield
APO per cent, similar amount of Southern
Pacific first refunding As, to yield AZ per
cent, and Clarion Steel 5s, to yield Az per
cent. Several other railroad mortgages and
a block of Newark Passenger first conSols
gold 5s are also included.