Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-03
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK. April 3-The sentiment in
speculative circles was quite cheerful today.
While ''runawa'' market Is not looked
for the Improvement In conditions cover
, ing the market and the Improvement in the
market itself are expected to be gradual
1t is believed that there viii be fiurrses in
call money. such as was seen yesterday.
at rather frequent intervals for the next
two weeks. But the tendency will be to-
ward lower rates. The improvement IN
the bituminous coal regions 1t Is believed
Will be gradual also
80
A man who is familiar with the entire
coal labor situation expressed the opinion
today that the bituminous operators who
have not already signified their intention of
signing the 1903 scale will not do so. with
out first showing considerable resistance
With respect to the anthracite situation.
ne says that no one can yet predict any
thing of a definite character. 1t Is true,
howev.lr. that very large proportion or
the anthracite miners In the Pennsylvania
district are strongly opposed to strike at
this time
On the other hand. the latest information
IS that there has been no change In the pro-
gram OF the operators. They still regard
the demand of the labor leaders as unreal
sonable. and for this and other reasons
they are not disposed to yield to the de-
mand.
A cable says that there is dissatisfaction
among the cotton mill workers at Lam
cashire. The operatives demand an in
crease of per cent in wages. and may
walk out II the demand Is not granted by
the employers.
Vice Presidents e. V. w. Rossiter and
John Christensen and Secretary Dwight w.
Pardee OF the New York CentraPs lines are
at Chicago today to arrange certain details
in regard to the consolidation of the In
diana. Illinois and Iowa railroad. the In
diana Harbor railroad and the Danviile ana
Indiana Harbor railroad companies. Inc
new company Is to be called the chicago.
Indiana and Southern railroad. which Will
be the holding company for the cohsonoa.eo
roads The new stock will be offered to the
stockholders of both the Indiana, limos
and Iowa and the Indiana Harbor railroad
companies in exchange for their present
holdings and the amount not subscribed
for them will be offered to the general pub
lie. The proceeds for the sale OF the Dono
and stock. greater part OF whlch Will ~
toward reimbursing the Lake Snore anu
the Michigan Central railroad companies
who advanced the necessary funds to con-
struct the 1G0-mile stretch or road OF the
Indiana Harbor railroad, extending from
Chicago to DanVllle, at WHICH poiut tii0
big Four will make a connection, giving
that road an entrance into Chicago over
the New York Central tracks instead OF
over the Illinois Central, with which COM
pany It now has trackage rights.
Dick Bros in their letter today says; IL
seems to us that the upward tendency OF
the market IS now clearly demonstrated
and all Indications seem to point to a more
active speculation ana a generally hshoi
range OF prices.
Reactions must be expected, especially II
the rapidity of yesterdays advance Is con-
tnued. Such reactions. however; VIII oe
only the normal and necessary breathing
spaces and they will afford excellent OPP
portunties for purcha ses
The following quotation. attributed to
.Boston authority and by him to "a lead
Ing official OF the Amalgamated Company
Is interesting: THE transfer of the Heinze
properties to the Butte Coalition. Mining
Cuppany ard the termination of the Heinze
litigation will make Amalgarnated stock
worth q good deal more than 1t ever has
been in the past. 1t will make possible the
development of the mining area owned by
the companies on broad and comprehen-
sive scale and will release tens of millions
of dollars worth of ore now practically In
sight which has been tied UP by this Htiga-
ton.
'It means that Butte will permanently
hold it's place as the leading producing dis
trlct Of the world. Amalgamated will go on
increasing its output from year to year for
a generation to come OF course, the COM
pany will pay larger dividends. 1t is now
supplied with a substantial working capital
it's earnings are larger and from now on its
expenses will be smaller.
'Of course, we are greatly pleased to have
this matter settled and out of the way. In
the past we have been called upon from
time to time to do a great many things
which were not business. In the future our
Will au 1nth fn1 al n n hut
mine and smeft copper ore