Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-17
BULLS AND BEARS.
Special Dispatch to The Star,

Special Dispatch to The Star,
NEW YORK. October 16.-While the opin-
lon prevails in speculative centers that the
stock market will continue narrow and
highly professional until after election. 1t Il
stated today that the information has been
impaired by q prominent financial interest
that no money will be made between now
and election by selling stocks. Apparently
confidence with respect to the outcome Of
the voting, in this state at least, is steadily
increasing. Some important interests freely
predict that Mr.. Hughes majority will be
decidedly overwhelming. The prevailing
watchword, however. is caution against
over confidence.
Although the market is almost universally
characterized as professional, 1t is learned
that significant buying Of certain securities
Is In progress. 1t Ia understood that prac-
tically all of the rather large offering Of
Wabash debenture "B" bonds yesterday
between "a and IS were taken by interests
friendly to the management, which, are de-
sirous Of securing the bonds on which
proxies have not been given for the forth
coming special meeting Of stockholders and
bondholders to vote upon the pending
financial plan. It is authoritatively stated
that the management and it's friends have
now obtained proxies for IS per cent Of the
debenture "B' bonds outstanding, and that
these proxies are all in favor of the plan.
Il
Close market observers say that q large
part Of the United States stock sold on the
latest advance was taken by powerful in
terests which are not considering the prob
ability Of an increase in the dividend in the
near future, but who believe that year or
two hence the stock will be selling at dou-
BILE present prices.
It Is claimed also that St. Paul stock Of
kr,r 0ra-- l.,
has also been taken by large inside interests
which are desirous of accommodating as
large line Of that stock as possible.
Although Peoples Gas has not shown any
indication of a genuine upward movement
in the near future, 1t is claimed that inside
interests in that company have informed
their friends that this is not the time to
sell. but to buy, and that they have been
endeavoring to accumulate line of stocks
which they sold nearly year ago above
par Holders of this security who have
been approached are understood to be of
the same opinion as the inside interests who
are endeavoring to buy the stock and are
thoroughly convinced that it is worth more
than present prices. 1t is understood also
that there is good reason for believing that
in due time the Peoples Gas Company will
be consolidated with the Chicago Subway
and the Edison and Commonwealth Electric
Light companies. Railroad men are not in
clined to credit the rumors that there will
be contest at the annual meeting of the
illinois Central stockholders today, in spite
of the arrangement that was reached last
summer at an important meeting Of the
board of directors. at which Gov. Deneen Of
the state of Illinois was present.
It is understood that he told the members
Of the board that they could not afford to
participate in a contest for control of the
property. Well-informed railroad men are
inclined to believe that today's meeting
A railroad expert expressed the opinion
this morning that some interesting develop
ments and announcements will follow the
result of yesterdays meeting Of the AL
bany and Susquehanna stockholders It
is understood that some prominent and
conservative banking interests have led
the movement for control of the Susque-
hanna property. 1t is intimated that &C
ton will now be brought to break the lease
OF that property to the Delaware and Hud-
son.
J. H. Moore Of the firm Of Darr Luke
& Moore arrived in town this morning
from Pittsburg. He says that the senti-
LieHl III Ills CITY Will respect W al Increase
in both the Pennsylvania and United States
steel common dividends this fall is consid-
erably mixed He tntimates that greater
emphasis is being placed by Pittsburg in
terests on the enormous business that the
steel corporation Is handling and it's
strong financial condition than on an in
crease of " per cent in the dividend this
month three months hence 1t is still
believed in the Pittsburg district that Oc-
tober will be a record month in the history
of the steel corporation.