Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-28
BULLS AND BEARS

Special Dispatch to The Star
NEW YORK. May 2S.-Speculators this
morning were inclined to take a cheerful
view of the speculative outlook. The re-
dictionary tendency of the market on Satur-
day was regarded as altogether natural in
view of the general disposition OF many
traders to close out their commitments be-
fore the end of the week. This was par
dculariy true under such circumstances as
prevailed. the advance of the two previous
days having resulted In fair profits to
operators on the long side. While some
very shrewd market judges admitted today
that the reaction may be carried a little
further. they believe that before the end Of
the week high range Of quotations would
be reached.
Though some people were inclined to takc
a pessimistic view OF the money outlook.
reports of the leading banks declared that
there need be no apprehension on this score
and that money would be maintained on a
comparatively easy basis. An official of
one Of the most prominent national banks
said that he expected $250O0.0O0 would be
returned from San Francisco within a
month Another factor, which has operated
somewhat against our money market. has
been the large amount OF cotton carried
by the southern interests. The banks of
that section OF the country have accord
ingly found employment for a large amount
of funds which usually at this season of the
year would be directed toward New York.
The opinion was expressed by some of those
conyersant with the situation that large
part of the loans being carried on the old
cotton crop would soon be lquidated and
the release OF a large amount of money
would follow.
There was a more pronounced feeling In
speculative quarters that the various in
vestigations OF corporations now going
would instead of impairing public conf
thar cfr fk
1t was pointed out that Il csc inyestiga-
lions would be the means Of eliminating
graft" and that the money heretofore di-
verified from the corpora tons by such meth
DDS would go toward settling their earning
capacity, with a consequent larger amount
available for disbursement to shareholders.
The technical position of the market, ac-
cording to competent observers, was in a
thoroughly healthy condition It was be-
Heved that a considerable short interest
still existed Brokers also declared that
recently the more substantial banking in
terests, which previously have taken little
or no part In the stock market, have been
substantial buyers and. according to reports
received this morning, a good many orders
from such sources were placed in the mar
ket SATURDAY on a scale downward and
still larger buying orders were on hand at
slightly below Saturdays closing figures
1t Is estimated by the Alaska Club of
Seattle. an authority on the subject that
the output of gold in Alaska for the year
1906 will exceed S24 coo, while Dawson
and Yukon territory would have an output
OF SS,OO0,OO0, total of S32, 600 600 which Is
an increase of $s.OO0,O00 over the yield for
1903. The increase is almost entirely from
Alaska proper.
The New Orleans Cotton Exchange has
appealed to President Roosevelt to order
the monthly cotton report held back until
June 8. because June is confederate
Memorial day.
A few days ago 1t was reported that sew
eral tunnels of the Baltimore and Ohio
railroad would have to be enlarged to per-
init the use Of some OF the latest Iocomo-
tives designed for the freight service. 1t Is
now denied that such work will have to be
done.
The Great Western Sugar Company has
filed a certificate with the secretary of
state at Trenton. N J.. increasing It's cap
ital stock from s20.O00,OO0 to $4,000 coo,
of which half Is preferred and half is COM
mon. The increase was decided upon at
a meeting held January 20. II. o. Have
meyer is president of the company and C.
K. Heike Is secretary.
Under the recent act Of the Maryland leg
isature, the Pennsylvania railroad cannot
work it's telegraph block operators in that
state more than eight hours day. 1t has
issued orders to that effect, to go into
force June /. At the same time it has
notified this class of employees that their
wages will be cut 20 per cent, or from $50
month Sj4 and there is a good deal
OF talk of a strike. The company has made
preparations for such an emergency.
THE TOBACCO INDUSTRY