Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-11-02
BULLS AND BEARS.

Special Dispatch to The Star.
NEW YORK. November 1--WE are in
clined to think that indiscriminate pur-
chases by spectators following pool lead
ership Is rather dangerous, particularly
when the uncertainties OF the present situa-
ton are considered writes O leading COM
mission house of certain stock market
tendencies of the last few days. and then
says: "one feature Of the trading that does
not appeal to us il the activity in certain
industrials. Manipulation has never been
known to do market any good. but II
seems impossible 10 repress this particular
form of gambling. Manipuative movements
of this kind hinder the general list and IL
does not make much difference whether
respectable railroad stock is selected or an
Industrial coup"
Comment was made yesterday that GER
tain stocks were heavy on 1O0-share lots
and buoyant and aggressive on large blocks
The wisest heads I'm Wall street are advis-
ing bullish spirits to accumulate more pa
thence and less stock
Lohrke, Rosen G. Co.. in their November
circular, after discussing the improvement
in foreign we'll as home affairs. say:
For these reasons the present price level
for high-class dividend-paying securities
has to be judged with reference to the con-
tinued improvement in basic conditions,
which is contributing to the wealth OF all
industries to degree that was not con-
sidered possible a few months ago. 1t is
natural that prices should advance as con-
ditlons improve. and since the local situa-
ton offers no ground for gloomy forebod-
ings there Is absolutely no reason to ex
pect, barring, of course some general Eu-
ropean disturbance, thoroughgoing reac
ton or such readjustment of security val
ues as would afford investors very much
better basis for purchases than that OBJ
taiuable today"
k&
Dispatches from Wheeling, W. Va, say
that deal has been arranged by which the
large iron and steel plants of the La Belle
iron works. at Wheeling and Steubenville.
Ohio, will soon pass to the control of the
American Sheet and Tinplate Company 1t
is said that the directors will issue a circu-
lar TO stockholders requesting them to give
options on their stock at $500 a share AS
the outstanding stock amounts to 81 600
600. the deal, with that price. would involve
$14 000,0 900.
The Labelle Iron Works also controls the
Lea oeile COKE company at Uniontown Pa,
and the Pitt Iron Mining Company of Vir-
ginia, MINI.
Duns Review complies commercial fail
ures during October as $50 in number with
aggregate liabilities of SO, 751, 992 against
SSS with liabilities of $40, 525. 72S, last
year. The record OF failures in all depart
ments, except in banking, compares very
favorably with previous years. There were
seven suspensions of banks or fiduciary In
situations for $5.974 $40, against seven for
S342, 600 last year, and twenty-one for S13-
eS4 635 in 1908.
X
Standard Oil stocks advance across 700
represents an aggregate appreciation in the
values of the shares of about ss5. 900, 900
since last spring.
Plympton Gardiner u Co. offer among
other securities. In their November circular.
Central Pacific first refunding AS, to yield
3.95 per cent; Chicago and Western Indiana
consolidated As. to yield four; Evansville
ana Terre Haute first AS, to yield 4.30:
Washington Terminal first 31k's, to yield
1862; Lehigh Valley first, 4+'s to WELD
3.SS; Northern Pacific prior lien AS to yield
$50; Chicago, Rock Island and Pacific Rail-
way general mortgage AS. to yield 3.T5;
Jersey Central general mortgage SIS to
yield 1857; an assortment of securities of
public service corporations to yield from
3.9S per cent to sand guaranteed stocks
Wis 10 4