Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-27
BULLS AND BEARS

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NEW YORK. NovembsS N.-After the
close Of business yesterday there was con-
adorable uncertainty IN the minds Of not .
few operators and observers Of the stock
market an to what the course Of the tradinH
would be during the next week or ten days.
The heads OF several large commission
houses were disposed to believe that the
trading would be largely professional dur
ing that period. and that the tendency
would be downward. Practically the same
opinion was expressed this morning. but
few observers. however. were Of the opin-
ION that the tone Of the market today and
for several days to come would be better
than that OF yesterday and several days
past Those who view the market on the
basis Of existing conditions and coming
events do not see how much Of an advance
can logically be expected until after the
first Of the month at the earliest. The head
OF large commission house who Ii In q po-
sftion to form a very good idea Of the char
acter OF the trading in Union Pacific, says
that the buying has been remarkably good,
and that London has been disposed to buy
the stock quietly for some time. He fnti-
mates that while the professional element
may claim to be disappointed over the
allowing made by the annual report. there
IL reason for believing that all bona f1de
holders Of the stock will be duly rewarded
little later on if they will exercise a fair
amount.
~
While 1t L. admitted In well-fnformed cir
cles that Speyer & Co. are the most import
ant factors In the Missouri. Kansas and
Texas property at the present time. 1t is not
believed In railroad circles that they &C.
tually are In control. A high official of the
Rock Island said this morning that it may
be taken as a fact that his company Is not
planning to buy the Missouri, Kansas and
Texas.
The vast increase in the business done on
the curb Is not at all to the liking of GER
tain interests In Wall street, and it is
more than possible something may be done
before long to put check upon the pro-
mtscuous trading carried on there. 1t fs
said that there are several stock exchange
houses who look with disfavor upon the
open market as 1t is conducted now. not
only because 1t attracts the trading public.
OF small means away from legitimate
channels of speculation, but because
of the rapid multiplying of securities
brought out whenever mining Or
any other fever seizes upon the public.
But there are other stock exchange houses
who declare that the curb is not only
convenience. but present-day necessity.
and that without the facilities which It
offers many perfectly sound enterprises
would be unable to find q market for
their securities, and this would work hard
ship to the stockholders In such concerns.
1t Is remarkable that while there are no
bylaws or rules Of any kind to govern the
curb trading, the business Is conducted
under an unwritten code which Is eff
fective that it Is not too much to say that
there are no troubles or disputes incident
to the trading which are not settled fairly
and quickly by the parties concerned.
Il i
Vice President Oppenheim Of the Chicago
Great Western and party Of friends have
returned from inspection trip OF the
company's lines. They found everything in
excellent condition. Mr.. Oopenheim says
that no relief for the general car shortage
has appeared SO far. and he does not look
for the situation to improve materially for
many months to come.