Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-24
BULLS AND BEARS

Special Dispatch to The STAR
NEW YORK. August 24.-Apprehension
with respect to the money market seemed
today to exist In the minds only Of the
more conservative interests. The street as
whole did not look for higher rates for
money in the near future than have obtain
ed during the last few days. Although an
attempt had been made to convey the Inn
preston that money was actually consid-
erably tighter than on any previous day,
brokers became convinced early that the
real tendency of money was toward an
easier rate. Although time funds kept at 8
per cent, large house was offered 81, 600 900
at per cent for sixty days and another
house that had been extremely active in the
market recently was able to get substan-
tial amount on call at 81 per cent. Before
the close call money was offered at per
cent
Men who watched the market very close
iy yesterday were convinced that prices
would be better today on the whole. Yes
terday the greatest effort was made to con-
vey the impression that money was grow
ing tighter It was assumed by some large
interests in the market that the trading of
TIE balance Of the week would be on a
relatively narrow scale and that no special
AS already indicated later in the after
noon when they thought they detected dis
tinct signs OF easier money. they were in
enned TO- buy stock rather freely on the
oeileI with the imports Of gold confidently
expected the market early next week would
nave another substantial rise. This Idea
seemed to be entertained by some investors
today.
From this time on the Copper stocks,
notably Amalgamated and Anaconda, are
expected to occupy a position in the trad
ing almost as prominent as that Of United
States Steel common. Although Amalga-
mated has had big advance from the low
prices Of few weeks ago, some interests
were inclined to advise their clients to buy
the STOCK on every small recession until 1t
reached several points above present prices.
NO one seemed to have changed his opinion
regarding the belief generally entertained
would receive dividends at the next period
* i
Just what James ]. Hill and his assist
ants purpose to do for the Great Northern
stockholders seemed to be a secret nearly
as well guarded as the increase in the
Union Pacific dividend and the declaration
OF per cent dividend on Southern Pa
cific common. Railroad men who believed
StAht IHcJ are III pretty close touch with
Mr.. Hill said that while they did not know
MS plans In detail they were thoroughly
confident that in the near future an inn
portant official announcement with respect
TO the Great Northern would be made in
addition to the long-looked-for ore deal.
President Stevens OF the Chesapeake and
Ohio was in town today. and although the
information did not como from him it was
still confidently believed that the next diyi-
d'nd on the stock of that company would
be at higher rate. It Is not generally
known. although it is fact, that control
OF the minority stock of this company is
now held by few individuals and it Is NOT
unlikely that at the next annual meeting
OF the stockholders request, IL not demand.
will be made in the interest Of the minority
shareholders.
n X
Bartlett. Frazier & Darlington say: 1.-THE
consensus of opinion seemed to be that the
money market will cause an irregular
stock market until such time as call funds
become easier.''
Watson & Co. in their letter this morn
Ing say: "One mathematician has figured
the steel corporation earning on its COM
mon stock larger percentage than any
railroad in the country for its minor Sc
curities.'
Dick Bros. in their letter this morning
say: "Today's. market seemed to show
better support and greater inherent
strength than the markets of Tuesday and
Wednesday Those leading stocks which
went up SO rapidly are undoubtedly now
days mentioned. We think it quite likely
that gold imports will be arranged, and
In our opinion our market will respond