Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-31
BULLS AND BEARS

Special Dispatch 10 The Star.
NEW YORK. October 3l-Russia's big
step forward was interpreted in buiiish
way In the stock exchanges of the word
this morning. There Is no doubt that tn
ternational affairs In the cars kingdom
nave been disquieting menace OF the Et-
ropean markets for months a situation
that was occasionally reflected here. ana
the lifting Of this cloud was bound 70 have
an encouraging effect.
That the lifting cloud will be dissipated
altogether Is the opinion OF men In the
wall street district who are qualified TO
express Views about Russia There IA no
Paris In the dominions OF the cxar and
the wadded-coated mouJik is not thu man
to set up guilotines
Nihety-hve per cent OF Russia's 140,Ooooo0
Oh people are illiterate. and II will take
genera IONS OF education and opportunity
under the leadership OF the intelligent few
oefore the full benefit of the great govern
mental change that has taken place will
begin to be felt but the imnor,ant ,n,r, e.
no" that Russia is moving In the right III
rection. and Russia is a better Investment
.oaay tnan 1t ever could have hoped 10 be
broken down by imperial decree. The car.
financial agents Were told last summer thai
Russia could borrow millions n peace was
ni,S , anu practicaily nothing II the war
Win Japan went on. They will doubtless be
.oiu now that free Russia can borrow rniJ
mons, where autocratic Russia couId ONLY
OBTAIN hundreds.
Those who know the Russian neon,e ana
the natural resources OF the Russian co,,n-
ny nave great confidence nthe industrial
development possible In a new order q,
Things politically. They say that the ma
terial Is there for a great and nrosnero,,.
nation and look on the opening Nm Of Ru.-
s ,,s as almost as tremendous a factor for
me welfare Of the whole race as the 70.
discovery and opening up of the wes,er,.
continents four centuries ago
An interview had In Minnsapolis with
u Haoore quotes him az saying: Some trad
ers are waiting for three or four nolpt
break before they buy. They will get badly
left. for the market Is not going 20 h.r.
any break. barring accidents that cannot
De foreseen. The level Of price. will soon
oe much higher than now Next year thera
WI probably be the greatest boom In stock.
ina, ina. mas ever occurred in our financial his
Tory, he said Mr.. Moore said that he
feit perhaps most bullish on the steel
STOCKS; i have been buying steel common
SINCE IL was down to TO-" he said "snd I
nave not the remotest intention OF selling
any OF IL at present prices. Steel common
Will cross 90 at an early date and n IA
Ioonsh to contemplate selling Il below 90
be cinch' in the stock market Steal
preferred at present price Is absurdly low.
mere Is no Industry that Is getting more
OUT or the present prosperity than the n eel
industry. Earnings of next year will easily
surpass all records
Developments affecting the Gugeenheim
properties have been numerous of late and
the strength OF the shares of their com.
panies is not hard to understand. The fol.
lowing circular has Just been issued to
stockholders of the Federal Mining and
Smelling Company by Its president, Charles
Sweeney:
The company has completed the pur-
chase of the Morning and Youlike group OF
silver lead mines, situated near Mullan in
the Occur d'Alene district, Idaho, for the
price or S3,Uo,OO In cash. The directors
were advised by competent engineers that
tho properties thus purchased were of a
value considerably in excess of the pur.
chase price, and 1t Is believed that the pur.
chase is much for the interest of the COM
pany. AS the option under which the prop
critics were purchased was originally TO ex-
pire September Is. 1905. and the only ex-
Der j, 1905. the company has borrowed the
necessary cash. and IL is now proposed ID
issue stock OF the company Of the par value
or 100000 to pay this loan"