Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-21
BULLS AID BEARS|


Special Dispatch to T1s Star
NEW YORK. May 21--Several we'll
known brokers expressed themselves this
morning a. being entirely confident In re-
gard to the position OF the stock market
The consensus Of opinion was that trading
would be comparatively quiet Tor while
yet. The opinion was expressed that the
market would be one in which speciai
stocks would be the features while the
general HIST would be allowed to remain
rather inactive.
| It was pointed out that tho action of the
market during the past week had clearly.
shown that there was little or no pressure
OF stocks for SALE and consequently It was
! not believed that the bearish element would
be able to have much effect on prices gem
orally It was believed by some OF the
| best market judges that the next pro-
| nounced movement In prices would be nm
ward.
II was confidently expected by banking
| interests today that the opening I'D of the
San rahcisco banks would be Immediately
l IoAioWed by large return OF currency from
the Pacific coast, and that accordingly
| money rates here would remain easy for .
| long time
| It was intimated today that improvement
| IN the United States Steel stocks would have
more OF Strengthening effect upon the
rest OF the market than anything else
PERSONS in close touch with the United
States Steel Corporation affairs were very
positive in the opinion that the common,
shock would be placed on q dividend basis
| In the not distant future
me scarcity of Louisville and Nashville
In Saturdays market was observed and
commented upon. There was not a single
transaction until within half an hour OF
the closing, and the DAYS sales were only
ooV snares. The bid price closed one point
| up. The declaration Of the dividend for
| the last half of the fiscal year is now
not far OF. and in good quarters it is
stated that the rate for the half year will
| pe or per cent. This would make G1k for
the fscal year, but would really place the
| STOCK on Z per cent basis. Notwithstand-
| ing The disturbance OF traffic by the yellow
| FEVER outbreak Louisville and Nashville
gross this fiscal year and viii probably
snow actual earnings OF about 10 per cent
on It's capital stock.
AA
The Post says this morning:
negotiations are about completed be-
tween the Gould interests and the syndt-
cate headed by, J. v. Thompson of Union
town Tor the sale of the rights of way,
charter and all the franchises secured for
the new UniontownW Wheeling short-llne
railroad, which has been surveyed ana
mucn preliminary work already completed.
| Just what price was paid is not known.
| put 1t Is stated 1t will mean about 50 50O,-
| 700. This will include not only the COM
piete risht Oh way for the new road, but
considerable coal lands, which can be oper-
| ated TO advantage also. The charter for a
orldge over the Monongahalea river is also
included. and terminal rights near Wheel
| ing, which are regarded as of exceptional
| value to the Gould interests have been Sc
cured. The most important element in the
| deal Is that it will hasten the construction
OF Oh, the sea board line Of the Wabash. for 1t
Will give the Goulds the benefit of sixty
! mile line that will cut off almost an equal
distance, thus meaning an advance of 10
miles toward the goal that has been fore
| most In the minds of the Goulds since the
| Wabash entered Pittsburg Incidentally
| the completion of the short-line railroad
| will give the Wabash entrance to the Con-
| nellsville coke fields
ST
| President H. r. Hilton of the United
| States Window Glass Manufacturers AS
| ISOLATION has sent a circular to all manu-
| facturers suggesting general shutdown to
| enable manufacturers to maintain prices.
1t Is proposed to shutdown all but machine
! equipped plants of the American Window
| Glass Company on June 8.
| X
Grain receipts at Chicago all kinds last
| week amounted to 2,oS9, 800 bushels, de-
| crease Of 352.712 bushels, but they were
! 469,559 bushels more than year ago.
| Wheat deliveries increased 81 400 bushels
over the previous week. and were $40 400
| bushels over the same week last year
| Corn arrivals decreased 126, 700 bushels
| from the week before, but were 199, 200
| bushels greater than year ago. Receipts
! of oats fell off 521 1888 bushels from the
| week before, but were 169,327 bushels
! larger than last year.
| X
| 1t is formally announced In a dispatch
| from Calumet, Mich. that the Calumet and
| Pittsburg, the Lake Superior and Pitts
| burg, the Junction and Pittsburg and the
| Pittsburg and Duluth Mining Companies,
| operating at Bisbee, Ariz are to be merged
| into new company under Minnesota laws
| with a capitalization of $40 000, 600. OF this
| S14,0oo,oo0 will be paid for the mines
| 81 100000 of stock will be sold at par to
| stockholders and IS 09o,000 will be retained
| in the treasury. The exchange price for
| the stock of the new company for the old
| met and Pittsbnrg and Lake Superior and
| Pittsburg, 1890 for the Junction and
| Pittsburg and the Pittsburg and Duluth.
! The par value Of the stock will be $40
per share These companies are controlled
| by Thomas F. Cole and associates Of Du
| luth, Charles Briggs and James and
Thomas Hoatson of Calumet and promi-
! nent officials of the United States Steel
| Corporation The merger will make one
| of the largest copper mining companies in
| the world.