Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-22
BULLS AND BEARS

NEW YORK. November "a hint has
been given this week that certain eminent
influence has been brought to bear as a re-
suit of which there will be no anthracite
strike next spring. There viii be demands
a counter proposition and compromise. so
It Is intimated. and an addition OF twenty
five cents or SO a ton TO all net prices for
wages. The public will pay the tax. Of
course, II this Is true. but It win be the
price OF peace IN the coal fields.
All the advertising tipsters on stocks are
talking In panic terms now. According TO
their various prejudices. the trouble that
has been brewing is either q "buii panic"
or a bear panic The higher prices 60
the more impressive these phiianthropists
have TO be.
Commission houses began to talk last
night of the necessity OF at least a tech
nical reaction In stocks.
Dick Brothers & Co. say: THAT the mar
ket should turn irregular is not at all sur
prising, for the advances of the past few
days have been rather rapid and the ex-
termination of the short account has once
more left stocks somewhat vulnerable.
Moreover, the market has gone up chiefly
because IL has been manipulated and 1t has
not had convincing leadership
Bartlett, Frazier & Darlington say: DE
spite the present tone OF the market We are
disposed to continue TO advise conservatism.
We believe that there Is going to be big
boom I'm stocks, but II would not surprise
us If this were preceded by a period OF
reaction. 1t IL obvious that a bull campaign
at the present time would be very Illogical
proceeding. Later on we believe there will
be ample opportunity for securing good
stocks at prices that will make these very
attractive Ii must be borne In mind how
ever, that basic conditions are good and
likely to be swift and effective in its upward
movement"
There is no doubt that the remarkable
advances in the anthracite stocks and the
Guggenhe.m issues invite a kind OF criti-
cism or attack, based not so much on the
value OF these securities as on the control
of their respective industries represented by
thS wi poiditOus pdch OF the STOCKS. 10
Illustrate, prominent commission house
sent the following over its wires yesterday:
We believe that the legislatures of the
various states are going to be good. The
revolution by the ballot in New York, Penn
sylvanta and Missouri illustrates that the
people will not submit to any more graft,
whether In insurance companies. trust COM
panies or for any other kind Of corpor atoms
1t Is going to be more like a government
he mil nd 1axy fha
people, and We do not think that the argu-
ment before the Colorado legislature next
time. that the Shelters Company was not
making any money, will avail when those
lawmakers observe that that banks stock
Is selling for S750O0O0O, upon which enor-
nous dividends are always paid and on
which more enormous ones are suggested.
We suppose IL Shelters should break from
its present price, $50 share, 1t would look
cheap. but not TO those who got It for moth
ing.
They would stu have the enormous
profits even II they sold II at par. The
mine owner must view with alarm and rest
lessness the exorbitant price he has to pay
for smelling his ore since the trust which
rivals Standard OIL In its magnitude has
come In the field. II from so to $14 ton
Is charged TO smelt and refine II, and IL 1t
costs 81 a ton to mine 1t. the profit to the
newer of wood and the drawer of water is
very small.
THE smelling company has given notice
of the enormous profits that 1t Is making
1t is paying per cent upon its bonus COM
mon stock intimates that 1t earns 20 per
cent. and Is going to increase its dividends
to 10 per cent. This is nuts to crack for
those who voted for reform. The legisla-
lures OF the various states In which the
smelters company does its principal BUSH
ness will begin to take notice. in order that
its people may be protected. American
Shelters is well in the limelight"
X
An interesting compilation was presented
this morning showing that the railroad
stocks composing the so-called Gould group
Missouri and Pacific. Texas and Pacific and
the Wabash st. Louis Southwestern and
Wheeling and Lake Erie issues-had not
only not advanced during the year as
whole, but had scored a substantial loss.
Comparing their higher prices on January
3 last with their prices this month up to
yesterday an average decline of more than
2 points appeared.
Pittsburg dispatches say that a contract
has been closed between the Pittsburg Coal
Company and the Republic Iron and Steel
Company for six years by which the former
company obtains the right for the exclusive
supply of all fuel for the Republic COM
pany's mills, amounting to from 500 700 to
10000 tons a year.
E The total contract Il Is said further will
be at the rate OF 100000 tons a year dur
ing a greater portion of the contract period
IL the present plans OF the steel company
IN extensions ana improvements Is carried