Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-07
BULLS AND BEARS

/ Special DiSpRfcH TO Inc SfAf.
NEW YORK. July 7.-Aithough the senti-
nent was considerably mixed today, 1t was
believed even by interests which have been
operating successfully on the short side OF
the stock market for some time that the
rally which was 10 pronounced yesterday
would go still further. The ultra bearish
contingent asserted. however. that the de-
cline following the rally would carry prices
to a lower level than was reached last
week. Those who were inclined to regard
the market favorably thought that Its po-
sition was much better than 1t has been
for some time. and while they did not ex-
pect big upward movement. they did
think there would be an opportunity to
trade probably on the long side.
i
The directors OF the Canadian Pacific
Railway Company VIII meet about the mid
die OF next month to take action on the
semi-annual dividends to be paid next Oc-
tober. Those who are in close touch with
the company's affairs do not expect any
change in the dividend on the common
stock. They point out that with the regu-
lar cash dividend and the rights to sub
scribe to additional stock given some time
ago. the shareholders have received a large
return on their investment during the past
year. and consequently nothing but the reg
ular semi annual dividend of per cent
should be expected next month. 1t is still
animated. however, that an important an
nouncement is to be made by the Canadian
Pacific management before long, but far
1t has not been possible to get any definite
Information regarding the character of an
nouncement
The Canadian Pacific has recently opened
the next six months will open I'D a good
many more on the spurs which are being
built. The company has recently ordered a
large amount of additional equipment. Late
private adviees received in this city indi-
cate that crop conditions in the Canadian
Pacific territory will be the best this year
since 1900
1T is likely that II quorum can be Sc
cured the 500 directors will meet about
the same time that the Canadian Pacific
meeting Is held to act on the semi-annual
dividends. Inter ests in this city do not deny
that they expect. an increase on the COM
mon stock. 1t Is intimated also that the
plans which have been under consideration
for some time to retire the preferred stock
may be announced at the meeting of the
board next month. Some interests are in
favor of increasing the capital stock and
Offering new common stock to stockholders
at par. 1t Is pointed out that both the
stock and bond capitalization, particularly
the former, Is very small per mile in pro-
portion to the capitalization OF most Of the
railroads Of the United States. While 1t is
not possible at the moment to get definite,
official authoritative Information, 1t
seems to be expected by well,informed In
terests that when the $500 directors meet
next month they will do more than declare
dividends at the rates which have been paid
since the distribution Of profits to the
stockholders was begun.
" II
The shipments of anthracite coal in June
were 5,676,O18 tons, against 5,S44, 012 tons
In the corresponding month last year. For
the year, to date, the shipments aggregate
%. 5S5. sol tons. against 9O.7169D7 tons In
the corresponding period last year.
correspondent at Pittsburg says: 1.-THE
Pittsburg district is urgently In need Of
20,oo0 laborers In Its industrial plants,
while the coal and coke interests are suf-
fering acutely, despite the fact that better
wages and more liberal concessions than
have ever before prevailed are being free
ly offered. Coal operators in the Pitts
burg district are offering permanent work.
good homes, union wages and hours and
every concession asked for, but are unable
to properly man their mines. The Pitts
burg Coal Company Is advertising for ma
chine and pick miners.
tetter-Connellsville Coke Company and
nearly all other coke producing companies
in the district are still suffering frora a
labor famine. Steel mills report dire
shortage of labor, while all interests stand
ready to pay top-wage rates.
THE only explanation made for the short
age Of men Is that railroads and other out
door contractors are in position to offer
wages sufficiently attractive to induce la
borers accustomed to mine, coke oven and
steel furnace work to seek the more COM
Portable employment during the summer
months. Many former coal and coke work.
ers were frightened into returning te Eu-
ropean ports during the recent coal Etrike
scare"
Pesident c. 2. Kimball of the Chicago
Peoria and. ST. Louis railway has issued a
circular, stating that the debit balance OF
$97. 103. reported June 80, 1905, has been
largely increased. The interest on the con-
solidated bonds due on July has been
postponed. The earnings werS seriously
affected by the coal strike, but aside from
vide new motive power, etc. r J. Lisman
& Co. have asked bondholders to communi-
cate with them, with the view to protect
ing their interests.
The Lock Step.
From the Chicago Tribune.
The penitentiary Is coming to be regarded