Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-16
BULLS AND BEARS
Special Dispateh to rhs star.

NEW York. October 18s-There II an en-
pectation In some quarters that the meet
Ing OF the steel plate pool tomorrow win
result In an advance In prices. There Is
talk OF boost Of 81 per ton. and some
would not be surprised to learn OF an adj
vance In structural shapes OF La ton. Tho
advance Is considered likely because of the
rise In the cost OF production and the big
business being done.
In this connection. the following inter-
view with prominent Pfttsburg iron and
steel manufacturer reported to Wall street
news agency is OF interest.
Il do not think the boom of four years
ago can be compared with the volume OF
business the United States Steel Corpora
ton b doing and has booked ahead. From
what understand there are enough orders
already booked ahead to keep every mill In
full blast until this time next year. and
possibly untfl the spring OF 1907. think
any holder OF steel securities would be
amply rewarded IL he took trip to Pitts
burg and saw how busy we are there, and
/ am certain that when he came home no
one could persuade him to sell his stock at
anything near the current prices.
1t viii be q long time when the steel in
dustry Will experience another period of
depression as we did two years ago The
Dig steel trust is no longer an experiment;
eAAo oNPC1i SId&6 mas Deen passed,
many errors have been corrected: lots of
oeao wood cut out; economies practiced.
and In the meantime, by the expenditure
OF nearly s10.OoO0o0. every plant Of the steel
brought up to the highest standard
fhere Is one thing we do not hear much
ABOUT these days, yet consider It one
OF the best things the management ever did.
ana that Is the proflt-sharing policy A
great many employees bought the preferred
stock, and naturally now have a greater
interest In that company. Never before,
perhaps, in the history Of the steel indus
i
man who has just returned from an eY-
tensive trip throughout the western states
says ne never experienced as much trouble
in getting over the ground as he did this
summer. 1t seemed as though everybody In
the country was moving about from place
TO place. The result was very uncomforta-
bic travelling and. in addition to the crowd
ing, late trains were the rule, not the ex-
ception. He says railroads have 80 much
business in all lines that it is Impossible for
them to live up to agreements In many In
stances. Both passengers and shippers
nave to be satisfied with the efforts to keep
tracks clear. however poor the execution
may be.
y 4
In this connection, both the large crop
and the trade activity combined to swamp
railroads. The record-breaking yield of
cereals Is known. and western traffic men
and others say it's almost Uncomfortable
what demand there Is for goods The
west has grown suddenly RICH not only the
west but the whole country; but the sud
denness with which the west has come to
the front in that respect gives the fact more
emphasis.
1t has r,,{at
that there are many persons in the railroad
business and financial and commercial cir
cles VINO ran as yet to realize the impor-
lance OF IT. They forget, western business
men say, the great increase in the value of
western lands, the great population the
Ireedom from debt. the enormous produc-
tiVity Oh the farms and the industries They
40 not reaiize, or forget 1t If they do what
me production of a big crop of grain means
for an answer. railroad officer will refer
you 10 the railroad. commercial and general
business situation as it is today
Concerning the outlook Dick Bros. G. Co.
say: ~
Speculative sentiment has been encour-
aged again by the short duration Of the
selling movement which followed the pub
LEGATION Of Mr.. VanderIip's address on Wed
nesday. 1t was only for a short time after
thls warning was read in Wall street that
stocks were pressed for sale, Moreover.
there was no indication that the pressure
came from any important source The mar
ket speedily became quiet. and toward the
end OF the week demonstrated again that
stocks are not for sale in any important
volume.
1T is because of this that there is ex-
pectation of a better market during the
coming week. 1t must be kept In mind.
however, that the disturbance of the money
markets all over the world Is by no means
over, and as long as there Is uncertainty
over this the worlds stock markets are
likely to be irregular"
The Southern Pacific Company has de-
posted with the state government $50. OOO
to guarantee the construction Of railway
line between Guaymas and Guadalajara
The road has already contracted with
Henry Lund g. Co. of San Francisco for
$1,000 tons of steel rails.
Il
Regarding the proposed Russian loan, the
London Statist says:
1T is to be borne in mind that the bulk
of the money is intended for paying for the
orders which will be placed in the countries
in which the loan is brought out. Conse-
quently the money will not be withdrawn
from circulation. except for a very short
time. Over and above this 1t Is reasonable
to anticipate that the great institutions con-
cerned will do everything in their power to