Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-08
BULLS AND BEARS
epecial pispatch to Tbe star.

epecial Dispatch to The stsr.
NEW YORK. August e.-There was still
some difference OF opinion in Wall street
today a. to whether the money market
Would be frightened next tall. The prevail
ting opinion was that there would be no
serious strtngency unless In tho meantime
an attempt was made to carry speculation
IN stocks beyond reasonable bounds. Some
conservative interests In banking circles
thought that they saw signs OF tight money
two or three months hence. An Official Of
a large banking institution in this city said
that within the last few days he had re-
ceiyed an inquiry for q large amount OF
money for six months on which the pro-
posed borrower would be willing to pay q
per cent He regarded this inquiry as an
indication that large interests were still
fearful that money would not be as plenti-
fui when the crop-moying season was at
It's height.
"a
Persons who have been extremely con-
sentative with respect to the stock market
and who are now watching the entire sit
uation very closely said that they saw moth
ing to prevent q reasonably active stock
market for some weeks to come. They
were not extremely enthusiastic however.
with respect to making the market par
ticularly active during the next few weeks.
but they were convinced that the men who
have 1t in hand propose to carry out such
q program.
~
It is known that since the market turned
upward some wel-known operators who
last winter often carried 100000 shares or
more OF stocks apiece now have not been
disposed to participate In the present move
ment One of them. however, who has
been particularly skeptical with respect to
this movement. few days ago became
convinced that 1t was wen founded-some
prices were going considerably higher.
He became SO confident that he bought
rather large amounts Of one OF the high
priced railroad stocks which has been q
feature Of the market sine. early in July.
The information comes from high official
sources that there Is no truth In the report
that the St Paul Is to make extensive
traffic and trackage agreements with the
Northern Pacific which would enable the
former company to reach the Pacific coast
without building new line all the way
from the present western terminus Of the
system. From the same source comes the
information that nc such agreements are
they will be made with the Union Pacific.
-
Men who have been studying the Cana
dian Pacific situation for many years and
who are Ia position to get good information
regarding the plans Of the management
stin believe that the directors at the meet
Ing scheduled next Monday will do lore
for the shareholders than to declare the
regular semi-annual dividend. These in
terests believe that In a comparatively short
time Canadian Pacific stock will sell as
high as Northern Pacific and they believe
that on the basis Of the ccmpany's position.
prospects and earning power 1t Is entitled
to sell as high as Great Northern. In
terests in this city who should be we'll
informed do not expect the 500" common
dividends to be Increased al this period.
So far as can be learned. no meeting Of the
directors Of that company was held In
Minneapolis last Monday. but IT is now be-
Aeved that action On the dividend will be
taken next Monday at the meeting of the
Canadian Pacific directors.
It Is quite probable that before the close
of the present week call will be issued
by the Wabash Railroad Company to its
stockholders for special meeting to con-
slider the financial plan which has been
under consideration for some weeks. but
which has been allowed to lie largely dor
nant because OF the monetary conditions.
It is also probable that circular will &C
company the call for the meeting In which
details of the plan will be set forth.
X
Tie report OF lake commerce passing
through the canals at SalIlt Ste Marie,
Michigan and Ontario for July. 1905. show
an east-bound tonnage Of 6,273.734 net tons,
as against 5.494. 1878 for the corresponding
month in 1905. and west-bound net ton
mage of ass, O37 tons, as compared with L.
20S. 8S2 for July, 1905, or total net ton
mage Of 7.732, I'll for last month, as against
6,7O3 100 for July Of 1905. an increase of
1,029011. The number of vessels passing
through the canal for the month was 1895,
as compared with 3, Isl in July last year.
The cotton mill presidents of South Caro-
lima will. it is said, endeavor to secure the
cooperation Of manufacturers Of cotton
throughout the United States tn asking the
next Congress for the imposition Of an ex-
port tax on cotton, with q corresponding
compensation to the planters in the way OF
10,ynfies and T1rOtacfiOD which wifi nurIal