Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-19
BULLS AND BEARS

special DaspatcA b TIA Star.
NEW YORK. Nocember 1o.-Specuiators
ara looking forward to considerable fsH-
provement IN the stock market. although
occastonat checks may be produced by
money hurrtos. Tho late sharp advances
In prices ON Saturday was clearly due to
tho unexpectedly favorable character OF
the bank statement There - q general
feeling Ii wsil-infufn,sd banking circles
that the monetary problem 70 working fl
self out naturally. and while It u to be
expected that tie shifting OF loans that
necessarily accompany the annual settle
onents may cause Q spurt In rates tatss IN
Decenoer, the preponderance Of opinion n
that nothing IKE stringency b now prob
abba The foreign money markets are ad-
justing themselves also and the prospect
Of some measure Of currency reform pass
ing Congress - the coming session Is re-
Sarded ~ OF high significance Of encourage
ment
4 =
It 10 the opinion Of the closest observers
that for tho time being the stocks Of tho
railroads in the Pacific northwest win hold
the most prominence ON the stock exchange
stage. Those who ara closely associated
with the Hill interests are looking for early
announcements affecting both Great North
ern and Northern Pacific and they say that
BUN expectations will not be disappointed
It II declared confidently that the payments
to be made to stockholders of the two
companies will justify a considerable sd-
vance In these issues from the present
level
The Investment holdings of Union Pacific
In the Hill properties are believed to be still
OF considerable amount and. therefore.
Union Pacific will derive considerable bene-
nt from any Hill melons" The Hartman
following = understood to be quite bu,lish
ON Union Pacific for rise Of at least ten
points Southern Pacific Is considered
believed that the advance viii be gradual
and spread over a considerable period
Developments IN sc. Pauf are still talked
OF. and market observers who said. Just
on interests were quietly accumulating 81
Paul, declare that the situation In this
respect is still the same.
Il
Talk has been revived Of an early In
crease in the dividend ON Louisville and
Nashville. It ID also predicted that Balti-
more and Ohio 10 being sroomed for q con-
siderable advance. It Is pointed out that
the market price is far below the figures
warranted by the company's dividend rats
ana the trafao Of the Baltimore and Ohio
is continuing at q rate which affords ample
security to the dividend rate.
Aside from the aggressive strength Of the
stocks with which the greatest financial
interests In the country were associated dur
ing the recent stringent monetary period,
it has been significant that at no time Of
late have some Of the very largest bankers
expressed any other than favorable views
regarding the securities market outlook II
Is clear that Secretary Shaw was equally
well informed and knew that the abnor-
mally high rates for funds would quickly
work natural cure. Temporarily, and this
is what has occurred. A banker who Il
AFFILIATED with one Of the very largest in
terests In the country said Saturday after
noon that money was now perceptibly
easier, although he could not explain def
initely how this had happened. Cables from
London received by international banking
houses after the close Of business expressed
considerable satisfaction over the more ia
vorable monetary position in New York a.
illustrated by the restoration OF a surplus
reserve. Good local authorities expect that
the conditions that obtained In New York
at this time year ago Will now be re-
peated, temporarily at all events, and that
the New York banks will gain considerable
cash this week. rejecting helated arrivals
Of money, particularly from the west,
where, as Indicated by the premium Of Is
cents per 81. 600 on New York exchange at
Chicago. the demand for crop-moving pur-
poses has been satisfied.