Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-06
BULLS And BEARS

Il
| NEW YORK, August 6.-Brokers who
throughout the period Of decline, which pre-
coded the present upward movement stead
lastly maintained that the market would
turn for the better sooner than was gem
orally expected. said today they saw no
reason for changing the position which they
have held eli along. To be more specific,
they believe that the market would be strong
and active for weeks at least. and that
money could be made only by buying stocks
whenever they react, and that any attempt
to sell them short would result In loss ex-
cept for traders. who might be able to
make fractional profits by close watching
and quick turns.
These brokers said that they maintain
this position because OF the excellent OUT
look for crops. the highly prosperous con-
dtfion OF the steel trade, the enormous
earnings which the railroads are piling up
on top of last years big returns and also
In the belief that there would be no strin.
gency In the money market during the CROP
moving season AS to the matter of larger
dividends being paid next fall by several
OF the more important railroads. these In
terests said that 1t was practically GER
tain that Union Pacific common stockhoid-
ers would receive dividends at the rate OF
per cent year when next the directors
take action on this question. Also that the
Atchison dividend. to be acted upon In
October. would be at the rate of per cent.
and the Norfolk and Western the same.
~
Il
Much attention was being given this
morning to the dispatches from Washington,
published yesterday, indicating the large
working surplus In the United States Treas
ury, and particularly to the statement
credited to Secretary Shaw that he would
use the government funds next fall If nec-
essary. to prevent serious stringency Ia
the money market
The buying of Southern Railway common
by Philadelphia interests during the last
few weeks has attracted considerable at
tention on the part OF interests who are
watching closely the transactions In that
security. Atlantic Coast Line and Louis
vile and Nashville are expected to sell
much higher on the excellent conditions in
the south. the large earnings which those
companies have already accumulated and
the bright prospect for another year of big
been considerable foreign buying also OF
Southern Railway common and this security
tty. Atlantic Coast Line and Louisville and
Nashville are said to be scheduled for
big movement upward.
4
No Information was Forthcoming this
morning with respect to the st. Paul situa-
ton. but 1t Is still believed confidently by
railroad men and by prominent interests in
Wall street that matters Of great impor-
lance regarding that road and several
others closely associated with 1t are stin
pending and are likely to be announced
within I've next week or two.
It Is learned that what is known as the
Paredon Line of the Mexican Central sys-
tenn has been completed and Will be opened
for operations as soon as formal consent is
given by the Mexican government. This
line connects the Coahuila and Pacific
railroad at Saltiilo on the Monterey divi-
sion of the Mexican Central system About
125 klometers of the proposed Tampico
Short Line. between that port and Mexico
City. have been surveyed and the line def
nitely located for that distance. Construc-
ton work will be begun very soon. About
two years will be required to complete this
line.
Mute fhot Ooy,of toy