Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-28
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK. September 2S.-Although 1t
was generally expected that the stock
market. particularly for certain stocks
would be more or less sensitive and irreg-
ular during the next four. or Ave weeks.
bankers who view the situation In a
broad way today believed that the ten
dency of prices would be upward for some
time to come. They based this opinion not
only on the great prosperity throughout
the country, but on the knowledge of the
fact that several important and compre
hensive railroad deals are yet to be an
nounced. They pointed out that, obviously,
these undertakings could not be satisfac-
torily financed on a falling market. AL
though it was claimed in some circles that
certain stocks. which have been features
OF the trading for some weeks, have been
pretty widely distributed. persons in close
touch with several of the most prominent
interests In the street maintained that.
while speculative lines OF these securities
may have been liquidated by inside inter-
ests, the latter are still the holders. OF
large blocks Of these stocks.
@ 3'
Credence Is given here by railroad men
to the report published in Chicago that at
the annual meeting OF the stockholders OF
the st. Paul road. to be held tomorrow, a
proposition will be presented to double the
capital stock. II such action were taken.
OF course, the new stock would be issued
as needed to meet the cost of the elaborate
extension and improvement work which
the directors have decided upon or have in
mind. 1t was pointed out in this column
some time ago that the st. Paul manage
ment had decided to finance the Pacific
coast extension largely by the issue of
OF 0hroxx n1N
servers of the transactions In st. Paul in
the recent downward movement claim that
the buying has been Of an excellent char
acter and that inside interests have taken
all OF the rights on the new stock offered
in the market.
1t Is asserted again this morning that
the buying of Southern Pacific recently has
been chiefly by interests which are famil-
lar with the important plans with respect
to that company. which 1t is confidently
believed will be announced In the near
future. 1t is claimed that some of the best
Informed banking houses in the street have
been large buyers Of this stock.
A broker who is familiar with the affairs
of the Canadian Pacific says that the re-
cent strength In the stock of the COM
pduy HiuSl ne que TO knowledge or q IA
vorable announcement soon to be made
by the management. It Is understood
that recently one Of the most important d.
rectors Of the company sailed for Paris. 1t
is claimed that much of the buying during
the last few weeks has been for Berlin and
Paris account. 1t Is denied that Paris capt.
talists have become interested in Canadian
Pacific stock on the understanding that
purchases made now will carry with them
valuable rights the new stock soon to
be issued. perhaps at the Forthcoming
annual meeting of the stockholders.
4 X
The weakness Of United States Steel COM
mon has. of course, caused much disap-
pointment. It Is learned, however that rep
resentatives Of large interests which took
profits on a considerable amount of this
stock around At have been buying it dur
ing the last few days on a pretty large
scale, being confident that 1t will soon rally
to the recent high prices.
*
Financlers who seemed to have definite
information yesterday morning that the
Secretary of the Treasury would deposit
government funds with the banks yester-
day are equally confident that in due time
he will make additional deposits If the sit
uation demands such action. -