Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-11
BULLS AND BEARS.

Special Dispatch to The Star.
NEW YORK. June u.-Thera was some
diversity Of opinion In speculative quarters
this morning regarding the immediate fu-
ture OF the stock market. though the moro
substantial interests stiil believed that the
tendency Of prices would be gradually up
ward The recent report OF damage to
crops has admittedly been something OF
an uiasettiing influence and the publication
OF the government crop report today waa
awaited with the keenest interest. The peo-
pie better informed on crop conditions.
however. did not take too seriously the
reported heavy deterioration in the Kansas
CROP and believed that the sinai out-turn OF
the western section would be quite salts
factory. 1t was pointed out that 1t was
still too early to get any positively definite
idea as to what the results would be in the
northwest, while in the southwest the
wheat crop was already virtually made and
measures up to good proportions
1t was expected. however, that some ir-
re gularity would occur in stock exchange
price movements this week In consequences
of conflicting reports from the crop Sec
ton.
Some of the shrewdest operators, how
ever. were fully convinced that stocks were
a better purchase on reactions than they
were sale on rallies. 1t was also believed
in some very good quarters that any de-
terioration which may be shown In today's
government crop reports has been to quite
an extent discounted by the decline in
prices at the cfose~of last week. The short
account was considerably increased and
good market judges were of the opinion
account on the short side and that the
covering of these commitments would alone
afford sufficient stimulus to bring about a
considerable rally in prices
Those who take the broader view of mar
ket conditions were greatly impressed with
the activity of business everywhere and
were fully confident that such prosperity
as is enjoyed throughout the country can
not but be reflected in higher prices for
securities before the end of the month. ir-
respective of various crop scares, which are
bound to arise in the meantime The money
situation was not regarded as likely to
interpose any barrier to active speculation
until well into the summer, in any event.
1t was generally conceded by the best
banking authorities that money would re-
main easy until August and that the out
look after that time would be shaped by
future development. There seemed to be
the utmost confidence. however, among well
informed interests that no stringency would
develop until the fall, and 1T was an open
question as yet whether or not money
would command a rate prohibitive to bull
movement In stocks. even toward the end
of the year.
The Sharpsville Furnace Comapny has
sold Its entire output of pig iron for six
months to Jones and Laughlin at $l42o q
ton at the furnace The furnace company
Thompson, Edwin N. Oil and Frank Pierce.
The first new wheat shipment of the sea-
son left Kerrville, Texas on Saturday even
ing for Galveston for export. 1t consisted
of five cars. and sold for eighty-three cents
bushel
II is reported from Chicago that the Ma
tional Candy Company will build glucose
and corn syrup plant at Clinton. Iowa. and
become an active rival of the Corn Products
Company. The National Candy Company is
one of the largest, II not the largest. buyers
Of glucose and starch in this country.
The Chicago. Burlington and Quincy will.
on July 1. take over the Quincy. Omaha
and Kansas City railroad. The general
offices of the latter in Kansas City will be
abandoned and the employees will be given
employment at the Burlington offices In
Chicago.
1t is reported from Bangor that the
American Pulp, Paper and Lumber Com
pany and the International Lumber Com
pany have acquired the water power at
North Arson. on the Kennebec river, and
intend to erect pulp and paper plant OF
large capacity and modern equipment.
These concerns, which have q capital of ST.
100000 have made extensive purchases OF
timber land on the Kennebec, and have
options on large areas.