Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-30
BULLS AND BEARS

Special Dispatch to The STAG.
NEW YORK. April 3o.-speculators this
morning were stiH In . rather uncertain
frame OF mind regarding the Immediate fu-
ture OF the market While II was admit
ted that the liquidation which has already
occurred has brought prices down to q
level at which many stocks are intrinsi-
cally che4p. 1t was also quite generally
expected that there would be some further
selling pressure today.
The consensus of opinion was that with
In the course OF few days more the
forced liquidation would have been pretty
fairly accomplished. and the market would
then be IN q position technically much
stronger than previously. Nearly every
body was now expecting a turn for the
better to occur most any time. and some
shrewd operators were inclined to buy
stocks conseryatively at this level
It was understood that some of the
large banking interests have placed q con-
adorable line OF buying orders In the mar
ket slightly below quotations at the close
Saturday.
Certain interests which have been AK
tremeiy conservative on the marekt for Q
long time were understood to have ex-
pressed themselves more cheerfully on Sat
urday.
Toledo correspondent says: Prosecutor
Wachenhemer of Lucas county brought suit
In the circuit court Saturday asking for
the revocation of the charters of the Stand
ard Oh Company and. seventeen affiliated
companies. The following corporations are
noted among the defendants: The Lake
Shore and Michigan Southern, Toledo and
OHIO Central and Hooking Valley Railroad
company, the Standard Oil Company OF
ONO, Indiana. New York
sey. the Buckeye Pipe Line Company, Solar
Renning Company. Ohio Oil Company,
northwestern Ohio Natural Gas Company,
Union Tank Company of PENNSYLVANIA. In
diana Pipe Line Company, the National
transit company of New Jersey, the Penn
syivania Oh Company and the South Penn
syivania OIL Company. The moving papers
allege the reduction of oil and the advance
In the price of gas by a secret agreement
between these companies and the granting
OF rebates by the railroads. The suit is
sald 10 nave been brought in behalf OF
State Attorney General Ellis. which makes
the case of more Importance than it would
otherwise be-
dispatch to the London Morning Post
from Shanghai says that the customs re-
turns from the whole of China for 1905
were $23 900, against $40. 995 400 in 1904
II Is reported from Wabash that the mer-
~
ger of important Indiana telephone compa-
MES. controlling dozen exchanges and 500
miles of line. has been agreed upon, and at
meeting to be held tomorrow at Fort
Wayne the Telephone Company of Indiana,
with $4,000 600 stock and 5000 600 bonds
will be organized The independent COM
panies take bonds and stock in payment
of the purchase price. This is the fore
runner Of the combination of northern In
diana independent exchanges by the st.
Louis syndicate which has options on all
property.
A Detroit correspondent says that Pitts
burg capitalists will establish tube roll
ing mill in Saginaw. Mich. occupying the
buildings of the Saginaw Sugar Company.
which will be remodeled. T. w. McGlone
and George H Everson of Pittsburg have
completed inspection of the site, and
say work will begin within two weeks The
company will be capitalized al 81, 500, 900.
been subscribed In addition to tubing, the
company will manufacture steel wheels un-
der patented process.
Thomas f. Cole, who has held title to
all the Heinze and United Copper properties
in Butte since the sale by Heinze some
months ago, has transferred all to the
Red Metal Mining Company. a subsidiary
and operating company of the Butte Coali-
ton Company. according to Butte advices.
The deed says the property is subject to
two mortgages, one for 100000 and the
other for $500, 600.
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