Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-28
BULLS And BEARS

| SPccihA OiBpatc0 10 1ue 6t2f
NEW YORK. June 3s-Naturaily the
sharp decline throughout the stock market
list yesterday afternoon was disappointing
to the brokers who had looked for con-
tinuation Of the rally that set in the day
before While the sentiment this morning
was still considerably mixed the prevail
Ing opinion was that the market as whole
Was destined for lower prices for. the rest
OF the week Mt any rate. OF course all
sorts Of wild predictions nero made with
respect to sensational breaks. but II vas
not believed by conservative interests that
they would occur 50 long as business con-
ditions throughout the country remained
as satisfactory as they are now
X
"a
Friends of the st. Paul property said
today that the failure OF the directors to
make public financial plan for the Pa
cihc coast extension should not be regard
ed adversely They pointed out that as
long as the present state OF pessimisn In
Wall street continued It would be unWise
to launch such plan.
Il
President winchell Of the Rock Island
Railway Company, who Is in town, makes
a very favorable report with respect to
conditions in the Rock Island territory.
Mr., Winchell said that there were heavy
rains In Iowa and other western states,
which were highly beneficial to the corn
crop. Mr.. Winchell was OF the opinion
that Kansas would have 6o.0Oo.oOo bushei
wheat crop this year. which he thinks
should be regarded as satisfactory by ev-
cry one, although the figures were not up
to the previous high record.
1t Is understood that on the decline OF
the last several weeks Sloss-Shefreid COM
mon stock has been quietly accumulated by
the interests which brought out the COM
pany and which have been in control since
it's organization.
The advance figures already at hand lead
prominent interests in the Colorado and
Southern railway to believe that the sur
plus for ths fiscal year, which closes next
Saturday. will be about double the fixed
charges.
In a circular dated June ~, 1905. John
Shelton Williams. former president and
"the man who madethe Seaboard Air Line,
analyses the working of the system 70 rthe
year ended April 1. Mr.. Williams. who is
a member OF the banking house of John L.
Williams & Sons of Richmond, Va. alleges
incompetent management by the present
regime and in support Of his argument pre-
sents digest Of the actual financial results
and the results which he says would have
followed reasonably competent manage
ment'' of the property. According to Mr..
Williams calculations, which seen well
considered, the Seaboard's earnings show
per cent earned on the common and
per cent on the preferred stock. The
circular would be found interesting to the
holders of the company's securities.
Pig iron is In active demand at Birming
ham. Ala, and prices have advanced again.
No. 2 foundry is now quoted firm at
$3.50. an advance of SO cents a ton since
last week The reasons given for the in
creased demand are the reopening OF the
foundries and the excellent crop outlook.
"a
It is reported from Cleveland that the
railway companies in Ohio are ignoring the
2-cent fare law as applied to interstate
traffic. Attorney General Ellis has ruled
that under no circumstances can they
charge In excess of cents a mile within
the state even on Interstate business The
commercial travelere of the state through
their state organization. threaten to begin,
proceedings against the railroads to compel
them to adhere strictly to the new law.
x
It is stated that the Nevada Smelling and
Mines Corporation has been organized to
take up several Nevada properties, includ-
Ing Gold Reed Company at Karwlch and
the Southern Nevada mines concern at
Revefiie. This is believed to be a step to-
ward the organization Of the Ely-Nevada
Copper Company, which has been in process
OF formation for some time. The president
OF the new company will be Malcolm L.
Mcdonald of Tonopah.
An officer of one of the leading independ-
emit brick manufacturing concerns of Chi
cago says: I'VE have not approached the
Illinois. Brick Company seeking settle
ment of the price war, nor do we Or some
others know intend to. Thus far we have
not made much money. but we have lost
none. This Is perhaps due to the fact that
the worst decentralization of prices did not
" AL