Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-25
BULLS AND BEARS.

Special DispateA 10 Tho star.
NEW YORK. April Is Commission houses
were Of the opinion this morning that COM
dffions are gradually Shaping thsmsslyee 2uR
better market. Come further improve
ment IN prices was looked for to-day. though
much larger holders are still inclined to the
belief that bullish activity on . large scale
would not Be renewed until the situation
was somewhat more clartaed ThA conean-
sus Of opinion was that the market Tor q
few days would be OF tradinx character.
accompanied by an irregular price move
ment, though with an ultimate tendency
upward.
While admittedly there wits some short
covering yesterday. good judges OF the trad
ing believe that there was still In existence
. very heavy short interest. II was pointed
out that some Of yesterdays buying was os
. character much better than has been seen
within the last week.
The quarterly report Of the United States
Steel Corporation has created q most favor
able impression among market interests.
and was taken as conclusive evidence OF the
continuation of the present prosperity In the
steel and iron industry for another year.
80
Any anxiety which may have existed re-
sarding possible money strinsency seems
to b fast disappearing. We are still In q
position to secure further gold imports from
Europe. and no doubt exists among we'll
informed interests that our bankers win get
enough gold from Europe to Offset the ship
ments OF currency west
-
The supreme court Of Ohio today rem
dered decision against the wabash Rail
road Company In the suit brought by John
C. r. Gardner OF this city, as attorney, tn
favor Of William r. Redmond. John B.
Manning. Edward H. Iitchfe1d. Ham Bros.
Kohn q Co. and other holders OF Toledo
and Wabash equipment bonds, declaring the
whole issue OF the bonds = hen on the Ohio
o aagi d sup5scs ely e morss.sss o VI
ern roads INST II Chicago yesterday and
tried to a4ree on q reduction In grain rates
In competition with lake navigation. 1t was
proposed to reduce the domestic rate from
17h to 1914 cents, and the export rate from
Is to Ii cents. An agreement was not
reached and another meeting will be held
next Wednesday. The Chicago Pneumatic
ID March g rs sor
depreciation of buildings. plant and ma
Chinery and amount written OF for ex-
perimenting and perfectfng new tools,
$36327; balance. $108, 995; bond interest,
$3.50 sinking fund reserve, $4,000; total
interest and sinking fund. al. $50: available
for dividends. $155.745: dividend. $81.0SS;
surplus. So. 6b7: appropriation for building
plant at Fraserburg $4,000: surplus.
$50 857: previous surplus, $536292; total
surplus. $685.. $40 The earnings shown by
the report are at the rate Of 1920 per cent
on the capital stock, against 9.s2 per
cent in the first quarter of 1905.
At a meeting OF the directors yesterday
OF the United Railways Investment Com
pany Of San Francisco. George H. Earle.
jr.. Of Philadelphia, James H. Reed, presi
dent of the Philadelphia company: James
D. Gallery, president of the Pittsburg Rail-
ways Company. and Alexander Brown and
Henry J. Bowdoin. both Of Baltimore. were
added to the board.
A Pittsburg dispatch says 1t was an
nounced last night that Robert Pitcairn.
resident assistant to President Cassatt OF
the Pennsylvania Railroad Company. would
retire on June l.