The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-07-01
WHITE HOUSE GUNS; III III 8
MISS WAL!L:::ijIlE..[E|:l:l[:.
" s1is1st'a sEis " Gsfi'
Last Shot in that. Direction q! Has,
Been. Fired. :sby & s s;::| !;
President. ~. 81. 4.
Special 20 The, Journal.

Special 70 The Journal. -, ~, 49,:
New York, June 3o.-!Wfilee. 1T: is. .ex:;:
peeted that prices will go somewhat
lower as o result OF the bearish senti.
ment now so prevalent, conservative =
observers do not look for big slump,
unless some new and important factor
5 In the situation, such, for instance, as
serious damage to the crops, should ap-
pear, Altho the bearish feeling pre-
dominates, there are men prominent in
Wall street who are studying the situa-
tion closely who, believe that there
win be marked reversal of the pes
simistic sentiment within reasonably
short time. They believe also that the
Investigations now being carried on UNI
der the direction of the federal govern
ment will be more favorably regarded
even by the highly speculative contin-
gent in the stock market, than they
have been so far. -ga ez-e>-. II
In connection with the aforementioned
point there is excellent authority for
saying that all the important news
with respect to Investigations of large
corporations is out, so far as President
Roosevelt Is concerned. Upon the same
authority, it may be stated, that he has
no further startling announcements to
make in this connection. The investi-
progress, or have been ordered, will be
conducted along the lines which have
been mapped out. According to this
authority, the government does not pro-
pose to bring actions against any 9TH
er large corporation.
If this program is carried out, con-
sentative observers believe that the
chief result of what has been done, and
vestigations, will be beneficial to all
interests, They also are strongly of
the opinion that when the investiga-
tions are completed the sentiment thru
ont the United States with respect to
Wall street will be much more favorable
than It is at the present time, and that
undertakings can be successfully
financed only in Wall street or in the
large financial centers of Europe.
Reports that the Standard Oil inter
ests have been heavy sellers were freely
used by bears this week, and detailed
accounts in the papers of the bureau of
corporations plan for further investi
eating the Steel Corporation may have
caused some of the decline in Steel com
mon, which reached new low record
for the year, recovering the loss after
progress for some time, and has thus
Far revealed little, altho the full re
ports have not yet been published.
The copper shares, both AmalgamateC
and Anaconda, slumped badly, but
when the announcement of an increase
In Anaconda's dividend from % pei
cent rate to rs per cent reached The
spectators, Amalgamated rallied smart
~ and Anaconda also. AS often hap
pens in a falling market one or two
high priced shares took a damaging
tumble, such as Federal Smelling, which
on one sale Tuesday fell off 10 points
st. Paul seemed unable to withstand TIL
heavy pressure against it and rallie,
less than the other stocks. It's con
srection with the Standard Oil interest
was regarded as significant.
A strong feature was Southern Pa
.eific, and the reports of an early re
sumption of dividends on the commo
are receiving more serious attention
One rumor which disturbed the stree
was that the banks had refused to az
cept industrial stocks as collateral i
view of the uncertain state of the ma,
ket, but the rumor received unqualife
denials. Atchison stock received goo
support on the statement of earning
for May, showing a gross gain of $3.50
900 and gain in net of $666,014, an
q total increase in income for eleve
months of over $5,o00,000. For tt
third week Of June the Southern Raj
way reported gain of 100000 an