Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-30
BULLS AND BEARS
Special Dispatch to rhe SEA-

II
NEW YORK. July so.-speculators who
nave been only moderately in sympathy
with the upward movement in the stock
market which has been In progress for
about three weeks. have been looking for
several days for reaction Of several points
on which they might buy advantageousIy,
A well-informed broker who. some little
time before the market turned. persistently
predicted that prices would not so much
lower. was Of the opinion today that we
would not have reactions Of moro than one
or two points in the present movement. He
looked for Southern Pacific. United States
Steel common and several other stocks,
which have been prominent in the present
movement. to advance considerably fur
Their.
Tnere was still q great deal of inquiry
among railroad men as to the purposes for
which the Union Pacific has recently Dor
roWed at least S10,000000. It was under
stood that the funds were not negotiated in
an extremely quiet manner and although
many questions have been asked by promi-
nent men from interests supposed to be ia
=. nainar Win the transaction. no one seemed
20 nave got definite information. While 1t
mas been generally conjectured that the
money was obtained for increasing the
Union Pacific holdings In Southern Pacific
STOCK. there was still notion that at least
part of the money was for the purpose
OF buying Illinois Central stock In rail-
road circles the report that E. Fl. Hartman
would make no effort to secure proxies for
the forthcoming annual meeting Of the
stockholders of the Illinois Central was not
credited. Six months ago 1t was learned
from entirely trustworthy sources that in
dividuafs who had been holders for many
years OF Illinois Central stock, which was
registered in their own name had appar-
emily been selling. and that the stock so
sold was then being carried in the name OF
others. 1t was believed that for many
months the Hartman interests nave been
steady buyers of the stock which Individual
holders were tempted by the high prices to
sell
1t was still believed that at the meeting
OF the directors of the Canadian Pacific
Railway Company, to be held about the
middle of next month. in Montreal, some-
thing more OF special interest to the stock
holders than the semi-annual dividend
would be announced. well-informed inter-
ests were still expecting that the 800" div
idend would be Increased at meeting to be
held about week hence or still week
later In connection with the Canadian Pa
cific's meeting. There are still other inter-
ests which did not believe that any change
would be made in the 500 common divi-
dend this summer. nor that any action would
be taken at the forthcoming meeting to re-
tire the preferred stock. They were more
inclined to believe that additional common
stock would be offered to the stockholders
on favorable terms.
X
More gold was received at the Seattle
United States assay office during the fiscal
year ended June 80, 1906, than during any
preceding fiscal year Of the office, except
1901. the year when the Klondike was at it's
height. and the Canadian Northwest alone
sent ST. 100000 to this city. The total re-
ceipts In the fiscal year 1901 were s21 ,707-
1927. The corresponding figures for the
year Just closed were 1898, O59.41. OF this
eighteen and one-seventh million dollars,
almost $1S,OO0000. was in gold, and only
s193. 745.74 In silver
In Alaska itself. the largest Increase is In
the receipts of gold produced In the Tanan
county. That district sent in the twelve
months Just ended 50. III. 72a.43 in gold and
$55, Al in silver In the preceding twelve
months 1t sent only s92S,229 In gold and
SS,S24 In silver. Receipts from Nome. end
ing June 80 last. were: Gold, 1854. 298:
silver, SIS, $50. For the previous year they
were: Gold. $a,174. 1852: silver, s21. Tos
X
In addition to the double track built by
the Ontario and Western between Carbon
dale and Forest City, it is said the entire
Scranton division from Scranton to Cado-
STA. is to be similarly treated. Bridges have
been strengthened for this purpose After
this work Is finished 1t Is believed an In
creased train service will be operated.
The adoption of stamp to be used on
stock certificate transfers, which cannot be
counterfeited or washed, is being consid-
cred by State Controller Wilson. He has
sent an agent to Washington to examine
the internal revenue stamp system. If neces-
sary. to prevent a recurrence of the recent
wash stamp steal in Wall street, an i'm
preston stamp will be adopted.