Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-07
BULLS AND BEARS.


were not Inclined to express themselves to-
day regarding the immediate future of the
stock market. Some believe that money
with be the dominant factor for q little
time at least, but are not free to indicate
to what extent they beAeve the stock mar
ket win be affected BY monetary conditions.
II the Bank Of England actually further
Increases Its discount rate. interests which
were seen this morning did not seem to be
entirely clear ~ to the extent to which the
stock market would be affected by such
action. While in some circles It Is claimed
that our money market win be tight for the
rest of the year. some prominent financial
interests stiA maintain that monetary con-
ditions on this side will ease materially
within the next two or three weeks The
head Of Q large commission house. which
does an active London business. said this
morning that most Of the selling Of Aueri-
can stocks In London today was for New
York account and chiefly for professional
operators. He added that not In many years
were so few orders placed on election night
by what might be termed outside and gem
eral interests In the stock market. He b.
lSeves that after q few days. unless none
tary conditions become decidedly more UNI
salts. actory. the stock market will settle
down and that the tendency will be toward
Improvement.
In the somewhat unsettled condition Of
the securities market, as indicated by the
London quotations this morning. there Is
. scarcity Of gossip with respect to indi-
vidual issues. A well-informed interest ex-
presses the opinion, however, that the buy
ing of the standard stocks. like Union
Pacific, Southern Pacific, St. Paul. Pennsyl-
vania and the United States Steel shares
will continue for the account Of the same
interests which he says have been the
principal buyers OF them for some weeks.
Railroad men who are In town continue to
express genuine confidence with respect to
the labor situation and repeat that the
chief difficulty being encountered by rail-
road officials is the shortage OF cars.
It is understood that representatives of
the Mexican Central are working upon a
modified plan for acquisition Of the prop
erty by the Mexican government which Will
be presented to representatives Of the latter
in due time.
+
Some observers think that New York
Central Is likely to be especially benefited
sentimentally by the defeat Of Mr.. Hearst
for the governorship. The New York Gen.
trail, being state road, was more suscep-
tible to any INSCRIPTIONS attacks or agi-
tations that might have been set on foot
had Hearst been successful.
~
II proceedings instituted yesterday by the
Pittsburg Subways Company with Attorney
General Carson are upheld by the courts,
about half Of the street railways now be-
ing operated by the Pittsburg Railways
Company will be wiped from the map Of
the city. President Gallery Of the Pittsburg
Railways Company states that the charges
will be answered at the proper time, and
at the same time claims that his company
has possession of the streets legally and
will fight the subways company to a finish.
A writ Of quo warranto is asked against
the Duquesne Street Railway Company.
and the rights are attacked Of the Citizens
Traction Company, both subsidiaries OF the
Pittsburg Subway Company. The petition
asks that the rights of the company be
looked into. If the claims are proved, most
of the lines beyond East Liberty station
would be declared illegal and ordered re-
moved. The Pittsburg Railways Company
Is owned by the Philadelphia company.