Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-08
BULLS AND BEARS

Special Dispatch to me star.
NEW YORK. March s.-There are many
months OF hard work ahead for the cham
Der Of commerce. committees appointed to
make a report on currency reform with
recommendations For some reason the
Wall street community Is imbued with the
Idea that no suggestion enaanating from
New York with regard to monetary legis-
lation has any chance Of being enacted into
law at Washington. on account OF political
jeaiousies in various parts Of the country.
and especially because Of western enmfty
to Wall street. There Is very excellent
reason for saying that what has blocked
legislation looking to currency reform has
not been these matters, but internal 1eal-
ousies In the New York financial COM
munity. The opinion in some weii-informed
quarters Is that II the leading financial fn-
terests here would get together. agree on
some measures and thus assert the firsan-
cial leadership, which is actually New
FORKS, there would be no trouble at WASH
ington.
~
There Is nothing to dfsmay stockholders
In the prospect Of an Issue of bonds on the
mammoth new plant which tbs steel corpo-
ration is building just outside Chicago.
According to Judge Gary, chairman OF the
board of the corporation, the plant VIII
have capacity Of 1, 750, eco tons OF fil-
ished steel year, which Is amos. guar
ter of the present actual output OF the
corporation. The net earnings OF sueh
plant will be many times the amount neces-
sary to pay interest on the bonds OF ths
plant.
-
The banks which were the first to receive
their share Of the s1O,0o0,000 Of the treasury
deposits obtained them first merely because
they were the first to comply with the nee
essary requirements. Probably the whole
$10,O00.O0O will have been deposited by Sat
ufday noon in the various cities designated.
*
:
Ball & Whicher say: AN aggressive bear
party is putting forth every effort to de-
press prices. and strenuously resist all at
teInpts to advance quotations. The result
is a nervous market. apd this promises to
continue for some time. When the bull
movement is resumed we look for partfcu-
lar activity and higher prices in many of
the industriaIs The earnings and business
conditions OF Distillers. American Weolen,
Virginia Chemical. American Ice and Amer
lean Locomotive make these attractive pur-
chases on any concessions"
x
Taylor & Smith say: ''Our Investigations
for the purpose of ascertaining some good
and tangible reason for the ma terlal falling
off In prices leads us to believe that outside
the immediate monetary situation there was
nothing In itself warranting any such de-
cline in prices. 1t is our opinion that the
monetary situation will from now on grad
ually improve; consequently we look for
betterment In stock exchange prices, with
the expectation that ultimately prices
of certain stocks will advance to a
higher level than they have yet reached.
After the material break in prices, and
unsettlement coineident Herewith, an
immediate and pronounced upward move
ment could hardly be expected. Some
irregulartty In prices for time would be
more natural. causing weakness here and
there, but on any weak spots we would be
inclined to purchase with some confidence"
y
Bartlett, Fra Zier q Darlington say: "It Is
believed that we have seen the low prices
of stocks. and that from now on there will
be betterment and that good railroad
stocks will score big advances One banker
expressed the opinion today that the
foundation had been laid for a good bull
market"