Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-20
BULLS AND BEARS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 20.-There was Q
considerable difference Of opinion uptown
today as to the course Of the market this
week. 1t was understood that over Sunday
there had been q large accumulation Of buy
Ing orders from all parts Of the country,
which. with the local buying. was expected
to result in Wild opening. and advances
or perhaps between two and three points
for the most active issues.
On the other hand. some observers
thought that the profit-taking today would
be sufficiently extensive to make the mar
ket steady, IL not irregular. In some CIR
cies also doubt existed as to whether there
would be sustained buying on the part OF
the public on larger net scale to keep the
market strong and active for several weeks.
The shrewdest observers were inclined to
believe that the market would continue
strong and active for several weeks at
least on the basis Of the tremendous earn
inss that the railroads are piling up. and
the outlook for equally large returns for
six months II not year to come. 1t was
believed also that the buying movement
pectations Of larger dividends on probably
half dozen well-known railroad stocks.
4
man who has been in close touch with
the leading industrials Of this country for
half q century. In commenting upon the
striking events in Wall street last week.
today said:
You can manipulate the market for q
time. but you cannot manipulate the condi
ton prevailing throughout this country. In
my. opinion, there should not be adverse
criticism Of E. H. Hartman for increasing
the Union Pacific dividend to 10 per cent
and for declaring an initial dividend on
Southern Pacific stock at this time.
THE persons who paid any attention to
the earnings of these two great companies
knew that the final results were equivalent
to substantial dividends on both issues in
question"
Ansel Oppenheim. vice president OF the
Chicago Great Western Railroad Company.
has just returned from trip to st. Paul.
He said he Travelled by daylight for the en-
tire distance. and that during the forty
years in which he has been familiar with
the territory between st. Paul and New
York he. has never seen the ground so
laden with wealth. Mr.. Oppenheim. In
speaking OF the affairs of the Chicago Great
Western said that the earnings Of the com!
pany were increasing at such rapid rate
that there need be no fear regarding the
continuance of full dividend on the pre-
ferred "A" stock. Mr.. oppenheim was IN :
feet that the st. Paul has been acquired
in the interest of Union Pacific and South
ern Pacific were well founded.
4
1t was still believed that IL the upward
movement In the market continued only on
a moderate scale the low-priced railrosd
issues and the Industrial shares would soon
come to the front in marked degree.
X
Apropos Of the new issue Of stock to be
made by the company a Chicago dispatch
quotes "a high official Of the Chicago and
Northern Railway Company as follows:
There Is nothing unusual about the pro-
posed plan to authorize 500. 100000 new
common stock. We are simply making
provision for the future. The stock viii
be issued only as it Is needed for various
purposes. 1t may be said that anything
the company may do will In NO wise prove
hostile to the interest Of Union Pacific The
talk Of a Pacific coast extension is q wrong
impression"
1t Is reported from Uniontown, Pa that
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