Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-13
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK. November 1S.-While tho
sentiment In speculative circles was still
beartsh this morning interests In close
touch with the Standard on party were OF
the opinion that the highest rates for
money and the lowest prices for stocks for
the time being were reached yesterday.
They believed that call money would APP
pear considerably easier today, and that
prices for securities would advance meas
urably. these same interests understand
that the Standard Oil party was a sub
stantial buyer of the active stocks yester-
day. particularly st. Paul. Union Pacific.
Steel common and Amalgamated Copper.
-
In connection with the quiet absorption
OF st. Paul by inside interests which is un-
derstood to have been in progress for some
weeks. broker who has always been very
well informed regarding st. Paul matters.
Is OF the opinion that the management will
0ner another block Of stock to the share
holders at par within comparatively
snort time. When the market becomes
more active this broker and others who
nave been watching the operations and tao
tics In st. Paul. believe that it will have a
remarkably rapid advance. It is under
stood that the management is still spend
ing money on q large scale on its Pacific
X,
now In progress on pretty much the entire
route, except in the mountain section.
From what can be learned, the leading in
terests in the Standard Oil Company are
not specially apprehensive over the an
nourced intention of the national govern
ment to investigate that corporation. If
the truth were known 1t will probably be
found that If WAC docided 70 hrin0 he first
action OF this character against the Stand
ard OIL Company because an investigation
OF that corporation would best satisfy the
public's clamor and because, also, mas
much as the stock Is closely held, mostly
by wealthy men, the result as to the mar
ket value of the security would not be disas-
trous to the extent that it would be If the
first action were brought against the United
States Steel Corpora ton, the securities Of
which are SO widely scattered and held
chiefly by small investors. On the other
hand, It is understood that 1t Is the policy
of the Standard Oil Company to defend the
action il brought in the regular way. 1t
Is also understood that the controlling In
terests In the company are Of the opinion
that the trial of the action will cover
long period. Persons who are familiar with
the policy. both of government and Of the
Standard Oil property, with respect to this
matter are ofN the opinion that the result
will be federal charter for the standard
Oil Company and other large corporations
similarly organized.
While an attempt was made yesterday to
associate the marked firmness Of Rock
Island with the reports from the southwest
that the company had acquired the Mext-
can Central, 1t is understood that the
strength was due chiefly to buying for
foreign account. 1t is understood that re-
Gently 10000 shares Of the stock were taken
out Of the market, chiefly by Amsterdam
interests. Those who are familiar with the
conditions under which the Rock Island
system Is being operated, and with the pol
icy of the management. know that the pur-
chase of the Mexican Central would not be
a bull card for the Rock Island. The lat
ter corporation Is now using practically all
of it's surplus funds for improvements and
development work. The Mexican Central
needs a large amount of the same kind of
work. Apparently, unless present plans
are changed. the Mexican Central will pass
to the Mexican government.
The Secretary of the Treasury Is adverse
ly criticized for disseminating the purchase
of silver for subsidiary coinage. 1t is UNI
derstood by metal experts that the demand
for silver Is sufficiently large to keep the
price at the present level and probably to
advance it materially. whether our govern
ment Is in the market or not. These ex-
perts believe that the ecretary of the Treas