Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-04
BULLS AND BEARS
Special Dispatch to The star

Special Dispatch to The Star.
NEW YORK. June 4.-Some of the lead
ing members Of the speculative fraternity
EXPRESSED themselves this morning as being
entirely confident that price movements In
the stock market this week would be gen.
orally upward 1t was pointed out that
after two weeks Of dullness, such AZ we
have had. with intrinsic conditions showing
substantial Improvement during the same
period the stock market shortly began to
reflect in a more pronounced manner, such
condition OF AFFAIRS. The technical posi-
tons were regarded as entirely sound. ana
sence OF liquidation In any degree worth
mentioning during the last fortnight clearly
demonstrated the manner IN which stocks
are held.
dinartly would have caused considerable
long stock TO be thrown over by tired hold
ers. but there has been very little evidence
81 selling OF this nature. Within the same
almost to q man ranged on the bear side.
but they succeeded IN causing only COM
parativeiy insignificant depressions In
The heavy returns of funds from the
west have engendered the greatest conf
dence In the future OF the monetary situa-
tion. and prominent operators believed that
the time was nearly ripe for a sustained
upward movement In security values OF
substantial proportions. Taken in, connec-
ton with the assurance OF easy money. the
favorable condition Of growing crops. 1t
was believed, would stimulate renewed ac-
tiyity In speculation soon. The fact was,
OF course, appreciated that proft-taking on
considerable scale would continue to be
the order OF the day on all strong spots
Nevertheless, 1t was believed that the
power of absorption would be more than
sufficient to overcome such selling.
Ihe sharp advance In Wabash debenture
bonds Saturday. according to infor-
nation received from some well-informed
persons on the market position OF this is
sue will be followed by further appre-
ciation in value this week.
According to reports from Chicago, the
general business situation over the west
shows no sign of retrogression. The vol
ume OF transactions In the various lines Of
commerce and industry Is large enough to
keep the transportation companies extreme
ly busy. Traffic on all lines is heavier than
1t has been at any time during the past two
months, and everything points to steady
growth There IL the greatest confidence
concerning the outcome OF the winter wheat
crop. which Is the basis of the continued
prosperous condition. The Atchison people
are out with what some persons consider
rather extravagant estimate of the Kansas
yie,d-8O, O0O, 600 bushels-but 1t shows the
care the railroad people have In the s!tua-
tion. Assuming between now and the mar
vest the yield should fall 100000 bushels
short of the above estimate. 1t would still
be a good indication that the railroads
would have another prosperous year. pro-
yided OF course, the average yield OF other
states was equally as good.
-
The United States Steel Corporation Is to
expend about 100000 for forty open
hearth stleel furnaces at the Edgar Thorn
son blast furnaces at Braddock, Pa.
1t is said that the Bethlehem Steel Com
pany, Charles NJ. Schwab's pet. is to build
q plant for making automobiles on large
scale