Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-17
BULLS AID BEARS

NEW YORK, May H.-Speculative senti-
ment this morning was quite uniformly OF
oullish nature. Well-informed brokers
said that during the last few days there
had been unmistakab1e evidence Of renewed
accumulation of stocks by so-cailed inside
interests in various properties. The short
interest. although reduced somewhat yes
terday. was stiu believed to be OF large
proportions. The manner In which prices
advanced yesterday when shorts attempted
to cover was pointed otit az conclusive EVIL
dence of the shortage OF stocks for sale at
current quotations
SO far as general conditions throughout
the country are concerned. representatives
Of large interests declared that they could
not be better. A weH-knovn railroad man
who has Just returned from six weeks
trip through the west says that there ID
not cloud In the sky anywhere. Close
market observers expect that there viii. OF
course. continue to be slight reactions from
time to time, but the consensus OF opinion
Of those who are disposed to take a broad
view and not base their convictions upon
momentary fluctuations Of the tape Is that
we are in q bull market.
~
The report of the Anaconda Mining Com
pany. which made such a splendid showing.
operators who previously were not inclined
to take decided stand on one side or the
other. The figures published. It is pointed
out. leave absolutely NO doubt az to the
genuineness OF the boom In copper metal
Shrewd judges declare that yesterdays rise
IN Anaconda and An1algamated Copper will
be succeeded by stu further advances in
the near future as the full significance Of
the strength of the copper position Is real
lied.
In the railroad list there has been noted
excellent absorption of Erie issues. Better
feeling Is beginning to prevail In speculative
quarters regarding the Pennsylvania group
ana intimafions come from good sources
that these roads are likely to show appre-
citation in market values soon.
1t Is said that there Is good prospect of an
agreement being arrived at between Hook
Ing Valley interests and the minority stock
holders committee of the Kanawa and
Michigan Railway Company whereby the
rocking valley people will take over the
minority stock of the Kanawa and Michigan
at price satisfactory to the holders there
OF. The kanawa and Michigan Railway
company. which Is controlled by the Toledo
ana OHIO Central Railway Company, a sub
sldlary company OF the Hooking Valley, has
total capital stock Of $4,000 600, 81 600 GOO
OF which Is held nthe treasury It's bonded
debt per mile is 1888. its stock per mile
$eOS4t and total charges per mile H72p,
wniie the gross earnings for the last fiscal
year amounted to $4,000 per mile 1t Is
said to be the only road in the country
whose STOCK Is traded In on the New York
proportion to Its fixed charges that does
not pay dividend on the stock
Whether there Is to be a strike nv the
members OF the Marine Firemen, Oilers
and Water Tenders Union will depend upon
the desult of referendum vote which the
| dod 20 Iuvv
Withdrawing Tuesday from the conference
at Cleveland with the representatives OF
the Lake Carriers Association the dele
gates OF the firemen's union YESTERDAY da-
cided to let the members Of the union vote
On On tne proposition made by the carriers
LOT continuation Of last years ware
schedule. 1t Is not known what recon-
mendation the union delegates will make
put the general opinion is that the offer
OF the vessel owners will be accepted and
that no strike will follow.
II
by way OF Pfttsburg It Is announced
that million dollar corporation was form
ed yesterday by Pittsburg capitalists at
Wilmington. Del. to be known as the Roser
3. Pease Machine Glass Company, which will
compete with the Mochine Window Glass
company, which has a capital Of so 600 900.
injunction proceedings have also been com
menced against the Machine Window Glass
Company by Roger s.. Peass to restrain
tnat company from using his patents in
their factories, and bill of equity has
been filed against the company, asking for
an accounting on the contract with him
Announcement Is made from Chicago that
President Wheeler of the Chicago Subway
Company Will return from New York on
Saturday, President Wheeler went into
conference with the eastern interests more
than month ago. and 1t was declared at
that time that he would remain In New
York until all the details Of the rearranee-
ments had been completed Nothing has
oeen given out In New York with regard
to the financial plans, but from local in
terests some Of the essential features have
been learned. The principal feature viii
likely be In reference to the proposed SUBJ
way bonds which will be issued to refund
the present issue Of Illinois Tunnel b,s
There has been some talk that this new
issue will bear pea cent interest.