Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-10-14
BULLS AND BEARS

NEW YORK. October f4.-Money lenders
are now talking of the possible return
movement of funds from the west. While
this may he some distance away, the subject
Is under discussion. For some days there
has been slight let-up In the movement
OF currency to the west and south. The in
terror banks grow financially stronger,
while. with the general progress of both the
western and southern portions of the coun-
try. the tendency Is to draw less money
from New York ard for shorter period
The maximum net losses to the interior
on account of the crop movement of prior
years, years Were cached October 10, 1904; No
FemDer -, 1909; November g. 1902 and No
temDer Z. 1901, after which respective dates
Tue currency movements were sometimes
nlesu,ar. put with gains from the interior
eseeeoihs losses To- the interior to the end
or the year. The maximum loss was ar
tanned later In 1901. than in any prior wear.
because or the lat,,ness of that years cot
o Up out the movement of cotton for
in 1903. S '"' 'ii'" was
hence the interest with which the daily
reports or cotton exports are scanned.
u
ne cotton export movement has also been
factor In the recent rise In rates In the
local exchange market While the advance
IN discounts abroad has a decided infiuence
-, NNti,ohse market, the absence Of
!iperai supply OF cotton bills, as a result of
the moderate export demand for cotton
mas been a factor of no little Importance
carpenter Baggo: & Company say III their
Weekly letter: "A better comprehension of
the fun text of Mr.. Yanderlip's speech at
washington shows underlying conditions of
the country SURPRISING all records and
very favorable to the value of securities
out also adds the words of caution against
possible efforts to force speculation for the
rise 100 rapidly at the moment. We believe
the flow OF money back to the financial CEN
ter will sound the signal for better prices
in securities. Until then an irregular mar
ket around present prices may be expected.
We favor the long side of the market. buy
ing on Scale-down and not ignoring mod
crate returns on bulges. AS result of the
unprecedented prosperity and record crops,
with foreign demands for our products and
increasing gold production. the wealth of
the country must increase and seek employ
ment in securities, the increased demand
for which must make them higher
The purchase of the anthracite coal and
railroad properties of Coke Brothers &
Company, Incorporated, by the Lehigh VAL
ley Railroad Company will. 1t is stated. be
followed by other deals among the inde-
pendent operators. 1t IS known that the
LehiSh Valley Company has under negotia-
ton the purchase of several valuable indie
pendent properties, and some of these deals
are about to be completed. The Lehigh
Coal end Navigation Company is said to
be one Of the concerns TO be eliminated
as an independent factor. There is doubt
however, as to which of the larger COM
panies will take in the Lehigh Navigation
Company. Friends of the Lehigh company
would like TO see 1t fall into their hands.
but the Reading-Central Railroad of New
Jersey interests must be considered
1t is believed In banking circles here that
a joint ownership of the Lehigh Naviga-
ton Company will be the final solution
of the problem.