Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-26
BULLS AND BEARS
Special Dispatch to The Star.


NEW YORK, October 2elspecuIators
who view the stock market in broad way
and who have only small interest in the
daily fluctuations maintained today that
most of the selling yesterday. as on sew
erai days before. was for the short ac-
counts, and that the offering of large sums
of money on the radical candidate for gov
ernor was in the interest Of operators on
the short side. and not in the interest d.
rectly Of leading politicians. The Idea
that insiders have been selling United
states Stee1 common, Amalgamated and
TWO or three other active stocks was not
credited by men who have watched the
transactions closely. On the other hand,
the head Of a large commission house said
that representatives Of the leading inside
interests have been quietly buying Union
Pacific Southern Pacific. Baltimore and
Ohio. the steel stocks and Amalgamated
copper. He called attention to the fact
that the idea was general that the mar
ket would work somewhat lower during
the next six or eight days, and that inside
interests were disposed to keep the mar
ket barely steady and to buy stocks on as
favorable terms as possible without bring
Ing about serious break.
Banking interests which have been dis
able view of the monetary and stock market
situations were disposed yesterday to take
an almost equally favorable view of the
monetary outlook. They did not believe
that the Bank Of England rate would be
further increased and they thought that
monetary conditions. both here and abroad,
would adjust themselves within a reason
able time.
:. In discussing the general railroad situa-
ton. Capt. Grammer of the Lake Shore,
VINO Is now In town, said that the shortage
OF cars Is the greatest obstacle with which
the Inc railroads have to contend at the present
Time He says that traffic in transit is
moving without special Interruption and
that, therefore, he does not anticipate
freight blockades of a serious character.
IN me reai trouble is that the railroads have
not suhcient cars to offer to the shippers
ne believes, however, that within two or
three weeks the situation will be materially
rel eVed. fhe railroads were far-sighted
ana placed their orders for cars well ahead
out the equipment companies have not been
aple TO give prompt deliveries. For in
stance, the New York Central lines have
not received considerable number of cars
winch were due last August.
Capt Grammer is Of the opinion that the
present agitation on the part of certain
classes of railroad employees for higher
wages and shorter hours will not result in
ohy SeTiouS disturbances.
An official Of the Chicago Subway Com
Pany, who Is In town. says that the deal
between MS company and the Chicago Ed
son company was closed two months ago.
ana 1ntlmates that only details remain to
be worked out.
X
"A wall street news bureau makes the
following compilations from the official re-
ports of railroad gross and net returns:
For the second week Of October the gross
earnings of forty railroads aggregated &c.
756.351 against $9.699,312 in the correspond
ing period last year, an increase of $685.
OSS. or 1889 per cent For the third week
OF October the gross earnings of nineteen
railroads aggregated $7,749.OlO against &c.
S16.0O7 in the corresponding period last
year, an Increase Of $92S, 103, or 1857 per
cent.
Although there has been no action on the
question OF declaring a dividend upon the
American Ice securities, the directors of the
American Ice Company have declared six
quarterly dividends Of IN per cent each on
the old cumulative preferred stock on which
no payment has been made since 1902 Sub
stantialiy all OF the American Ice preferred
stock was exchanged for preferred stock of
the American Ice Securities Company under
the reorganization plan of 1905. Therefore
the dividends declared yesterday on s14,-
$4,000 of American Ice preferred, aggre-
eating per cent will amount to ST 342, S18,
which Is nearly per cent upon the author
lied capital stock of the American Ice Sc
curities Company.
1t was figured out in Wall street today
that about all of the dividend declared on
the old preferred stock would go to the
American Ice Securities Company and that
when the directors of the securities COM
pany see fit they can disburse it in divid-
ends on the stock Of the securities COM
pany.