Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-14
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK. November AWHILE SEN
sationaI advances in the active list as q
whole are not looked for. brokers who have
been familiar with the operations Of some
of the largest financial interests In Wall
street are confident that the market will
continue to improve and that the monetary
situation will seem less Of a menace than 1t
has for some weeks. This opinion il not
universally held by any means. but those
who do hold It believe that the situation
has been exaggerated for some little time
and that an effort is still being made to
make It appear worse than 1t really Is
While 1t Is accepted as q fact by well-in-
formed interests that the st. Paul manage
ment will issue another block of stock by
the hrst OF the year. OF perhaps earlier. It
10 understood that those who have intimate
knowledge OF the transactions In that Sc
curity for several weeks, and particularly
OF yesterdays, are confident that matters
OF even greater Importance to the share
holders than the issue of the $50.OOO,0OO adj
oitlonai stock at par are pending. Some
weeks ago it was announced on excellent
Information that James Henry Smith had
sold his st. Paul stock at prices very much
ABOVE present quotations for the preferred
and common. and that he had invested the
proceeds in Southern Pacific. Confirmation
OF that statement has been received from
another excellent source. It Is now init
mated that Southern Pacific will occupy a
position In the stock market nearly as
prominent as that taken by st. Paul in yes
terdays trading.
There are strong limitations that at no
distant date the stockholders of the Chi
cago and Northwestern railway will re-
ceive opportunity to subscribe at par for
percentage of the new common stock re-
Gently authorized. 1t Is believed by we'll
informed authorities that in future develop
ment OF Pacific northwest relations Chi
cago and Northwestern will occupy q
prominent and beneficial position.
-
President Winchell of the Chicago, Rock
Island and Pacific Railway Company, who
IL In town. says that little change has
taken place In traffic conditions along the
lines OF tho Rock Island system. He con-
firms a dispatch from Chicago yesterday
stating that the Rock Island had placed
an additional order for equipment that
would amount IN the aggregate to about
$8OOOO0O. This order includes 1000 freight
cars, sixty passenger cars and fifty loco
motives. The total cost, Mr.. WincheH says
VIII be between 100000 and 100000
AZ to the North American Express Com
pany. Mr.. Winchell says that the only
statement which the company Is prepared
to make at this time is that 1t was organ
lied for the purpose OF placing the Rock
Island Frisco system in position to han
die for itself the express business passing
over its lines IL It should become desirable
or necessary to do so. The present con-
tracts with the express companies operat-
ing on the Rock Island system run in some
instances to 1909. Mr.. Winchell says that
there is absolutely no truth in the report
that the Rock Island has acquired, or is
planning to acquire, either the Mexican
Central or the Sierra Madre and Pacific.
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II 4
It Is understood that w. w. Gurley. gen.
eral counsel for thu Chicago Union Trac-