Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-09
BULLS AND BEARS

Special Dispatch to The STAR.
NEW YORK. July a-By reason Of the
disappointing exhibit made by the bank
way On the contrary. it was claimed that
today with respect to the stock market for
the next few days were combating. II
was believed by some that the bank state
ment would be used by the bear party to
depress prices and 1t was feared that this
contingent would be successful in q marked
way. On the contrary 1t was claimed that
the bank statement did not reflect actual
monetary conditions by reason of the ex-
traordinary movements of funds In con-
nection with the July ! disbursements.
1t seemed to be the opinion that prices
would recede little farther at least before
the rally. which was in full swing on Fri
day. was resumed.
Men who have come to town from the
west since the close of business on Sat
urday said that on the basis of the pros
perity which prevailed throughout the
country the transactions In stocks on the
New York exchange should total 5.O00o0O
shares daily. They asserted that the con-
dftion of crops was excellent and that
business was increasing at the large CEN
ters more rapidly than could be realized,
except by those who were actively engaged
at those centers. One man who has just
returned from Chicago said that the growth
of general business there was enormous.
Not only were the railroads handing an
immense traffic. but every line of business,
both large and small, was growing rapidly.
The Chicago subway would be prepared to
handle the mails within twenty days.
From this source the company would re-
ceive much larger income from the gov
eminent than was paid for handling the
mails altogether by wagon. 1t was esti-
mated that. within the next two years the
income which the subway would receive
from It's telephone service would be suffi-
cient to pay the interest on its $1T, 600 900
bonds. Practically all the railroads except
the Pennsylvania and Vanderbilt lines. have
entered into contract with the Chicago
Subway Company and traffic would be in
terchanged dtrectly.
A man who has just come back from In
diana said that conditions in that state
were gratifying. Wheat delivered was
of an excellent quality The yield
was from twenty-five to thirty-five BUSH
els per acre and the price received by
the farmers at the close of business last
week was about - cents. He said that
oats were rather light In Indiana and the
same was true of the hay crop. Corn, while
a little backward, looked well. This man
predicted that the crops as whole this
year, in the central west at least, would
be well above the average for some years
past. Another man who has been travelling
through the west said that, in his opinion.
the Increase in acreage this year for most
OF the crops was considerably larger than
was generally realized In North Dakota,
in one important section, he thought the in
crease would be about 80 per cent.
The advanced stage reached by the crops
through the southwest has Increased the
confidence of many OPERATOR in the securi-
ties of that section, 1t was now believed
that the crops in the Atchison territory
were sufficiently assured to justify confident
expectations of an increase in the dividend
of Atchison common to 5 per cent basis.
and the stock was being accumulated by
opera tors who believed that this dividend
advance would be discounted by rise in
the market price to par within the next two
months.
A dispatch today says a strike of elevator
employees at South Chicago, which will tie
up all the elevators on the Calumet river,
is threatened.
The men demand an advance in wages
from 81 to 30 cents an hour. which the
companies SO far have refused to grant.
Some 800 men were affected.
Pittsburg reports that eight hot mills of
the Monongahela works of the American
Sheet and Tin Plate Company will resume
operations at am. Monday, July %. All
hnJ,o 70 nntt