Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-22
BULLS AND BEARS

NEW YORK. October 22.-while somewhat
lower prices were expectd in the early trad
ing today on the stock exchange, some observ-
ers believe that practically the lowest prices
IN the present movement were reached in
the last half hour Saturday, but at best
IT was believed that the market today and
FOR several days would be irregular and
nervous. While a decline of serious proper
lions was not anticipated. it was expected
that there would be more or less selling
during he next two weeks on the part Of
holders who may become apprehensive OF
the money market and the election in this
state. Firm money rates were looked for
this week, and it was understood that the
leading banking interests were decidedly
In favor Of the market being no more than
steady until the money market be-
comes adjusted and the election re-
suit matter of history. The ru-
NOR was in circulation this morning
that Secretary Shaw has already decided to
relieve the money market In the immediate
future by the redemption Of the per cent
bonds maturing next July. or by the de-
post Of an additional amount Of govern
ment funds in the national banks.
4
The prevailing opinion is that the entire
situation would be materially relieved by
further liquidation in the stock market. 1t
was learned this morning that several large
operators are disposed to buy the active
stocks at about present prices. One opera
tor, who closed out a substantial line Of
steel common between 40 and 80, has slgni-
fed his intention of taking on a good-sized
block in the early trading of today. It Is
known that the attitude of a group of promi-
nent operators is the same with respect to
Union Pacific, Southern Pacific and Anal
gamated Copper. Men who discussed the
MI sod
freely that both Southern Pacific and Union
Pacific should be regarded as good invest
ments even at present prices.
Owing to the farm prosperity Of
the west, the inability Of the car
builders to turn out cars faster
and the inactivity of shippers, both in load
Ing and unloading cars, the country now
faces one of the worst shortages that 1t
has ever known. All railroad men admit
that they are absolutely unable to furnish
Sars, sometimes even to put small per-
sentage of the number wanted. For IN
stance, a large local firm wanted 400 cars
and got only $50, while In another case fifty
box cars were wanted and only one could
be secured. Shippers have begun to profit
by the advice given them by railroad off,
GERS in the matter of eXpediting car move
ments by loading and unloading cars quick
err. In some instances the car builders have
found themselves facing higher prices for
material than when big orders were taken
from railroads and the builders have been
waiting for lower prices SO to come out
even on their contracts.
From Chicago reports come to the effect
that there will be diminution Of traffic
next year. 1t is said that the present ton
mage is the largest ever experienced by the
western roads and was never so diversified
The manufacturers are contributing to the
earnings Of the roads in way which sur
prises officers Of the railroads. There is no
product that is not moving In larger vol
ume than had been expected. except grain
Traffic men, however, would much rather
see grain held back on the farms for some
time. SO that they could get the benefit Of
1t would be an impossibiity for the roads
to do the hauling before the year rounds
out if there should be a sudden disposition
on the part Of the farmer to market his
cereals.