Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-21
BULLS AND BEARS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. October 2O-While, Of
course. there have been predictions that
the stock market was going very much
lower within the next week or ten days,
conservative interests were almost unani-
nous in the opinion that, while prices
would likely decline further today. and
perhaps during the first few days Of next
week. they did not look for selling by large
interests that would bring about serious
slump. 1t was generally conceded that
most Of the weak speculative accounts have
already been closed out and that the major
portion of the selling except perhaps for
european account, would be largely on the
snort side. On the other hand even those
who took the most hopeful view of the
situation, did not look for a sharp re-
bound in prices. at least until the large
interests were thoroughly satisfied as to the
outcome Of the election in this state, The
private cables received from the principal
European centers since the close of bust
ness yesterday did not disclose any unfa-
vorable condition of which there is no gen
eral knowledge. They universally stated
as on yesterday, that the increase in the
Bank of England rate was solely to pro-
tect that institutions gold supply
1t is learned that prominent inside inter-
ests In the Standard Oil Company are not
specially apprehensive with respect to the
ultimate outcome and effect of the litiga-
tlon that is now being conducted against
that great corporation.
IL Is known also that these interests and
their most intimate friends do not expect
THIS procedure to have an appreciable eff
feet upon the stock market
1t is also learned that prominent interests
IN the stock market who have been deter
mined to check any attempted advance in
prices prior to the election are confident
that on any further material recession there
VIII be general and extensive buying of
stocks, notably st. Paul. Union Pacific.
Southern Pacific Steel common and Anal
eamated Copper, which have been the
features of the trading for many weeks.
II is also known that the interests who
control many CO the low-priced railroad
issues believe that soon as the market
regains a normal tone the trading in that
class of securities will also be larger than
thus far since the market became active
in July.
The strength of the Wasbash "B'' bonds
yesterday was attributed by we'll informed
interests to a knowledge of the fact that
more than 50 per cent of the four classes
of the company's securities that carry vot-
ing power will be voted at the special
meeting next week in favor of the financial
plan and also to the firm belief that the
b. bonds on the basis of the terms of
the plan are worth at least points more
than yesterdays prevailing quotation.
Private advices reached here by banking
and stock exchange houses with Canadian
connections indicate that no further trouble
similar to that experienced by the Ontario
Bank need be looked for in Canadian
financial circles.
The total bank clearingS of all of the
clearing houses of the Emitted States for
the week ending today Saturday esti-
mateD has been 1922 9Ts,O17. compared
with 1928. 79ss2S in the previous week,
and 81 SIG, 9O4, 49s in the same week year
ago.
Gains were made in the following cities:
New York. 1910 per cent: Boston, 1876 per
cent; Philadelphia, 1874 per cent; Baltimore,
IL per cent; Chicago. 1912 per cent; ST.
Louis. 8.5 per cent, and New Orleans, $50
per cent. The total gains for all cities for
the week compared with same period
year ago was l4.6 per cent.