Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-02-01
BULLS AND BEARS

Special Dispatch to The Star.
| NEW YORK, February More general
| confidence in the probability of a great cop
per and smelling deal is being shown in
\, all street now than has been manifested
for months. although rumors of such a
deal have been heard for q year and more.
| 1t win be recalled that Lawson issued f,iri-
| GUS blasts the subject as long ago as
last spring.
Edward Sweet & CO., who are likely to
| be speaking with some authority. say: The
Guggenheims will be interested with Mr..
Rogers and Mr.. Heinze in a combination
| which viii not only include the United Cop
per Company and the AmaIgamated Copper,
but also the American Smelling, the Ma
tional Lead and other concerns. The finane-
| Ing OF this huge consolidation WILL it Is
said, be done by the City Bank. 1t is be-
iieved that the details are now practically
settled and that it is only dependent upon
the Judgment in regard to the money mar
ket of those who are principally interested
as to when the public will be informed of
the plan Inside interests on shelters have
lately been predicting 300 for the stock and
l25 for National Lead as prices which
would be reached in few weeks.
y 4
truly bilious criticism on the Steel Cor
porations statement of earnings for the De-
cember quarter was made yesterday by GER
tain censors who have perverse inclina-
ton to make an Ill construction of every
thing. 1t was pointed out solemniy and as
though 1t was great discovery that the
statement showed that the monthly earn
ings for the quarter fell away instead of
Increasing toward the end of the period COW
cred. while in the September quarter earn
ings were on an increasing scale from the
beginning to the end.
The fact Of approaching winter seems not
to have been considered by these carpers
explaining satisfactorily why the earnings
decreased slightly last November as COM
pared with October, and in December as
compared with November. Moreover, the
earnings for the last quarter of the year
have always shown this diminishing scale.
The corporations revenue for the last three
months of 1905 was greater than for any
corresponding period previous.
Can any man rise up and say where the
control of the Pennsylvania rests IL any
such way as the lodging place of Union Pa
cific control. or New York Central control
or the control of other large or small sys-
TENS can be determined? Control of Penn
sylvana is not vested in any clique in
terest, but in it's great body of stockhold-
erS.
X
Taylor & Smith say in their weekly mar
ket letter: Despite repeated denials and
the cold water thrown upon all current
ell-deined and intelligent rumors of in
creased increments to stockholders, merg-
ers, consultations, etc, enough has
leaked out to give good assurances
that there. are at present deals of
great magnitude and Importance impending
in both railroad and industrial circles.
which, when they reach the point of frui-
ton, must add much value to the securities
t<o,.o Irxxpr, rSar
sorb time, and their great import often
cause seemingly long and unnecessary de-
lays, making 1t much more satisfactory for
trading purposes to restrict purchases TO
stocks of which their value Is easy of COM
putation. by investigating from published
reports"
An index of trade conditions Is the fact
that Chicago clearings for January made
a record for the month. with total of
$685. s44 Sal, and were also the second
largest amount for single month.
A prominent Chicago house says: During
the past two or three days it has been in
timated broadly that there was some trou-
BILE impending, and while we were aware in
a general way that this was accurate, we
were also aware that the trouble would be
forestalled and no serious developments per-
mitted. This can be asserted as fact niw.
and we believe that the financial and bust
ness atmosphere Is perfectly clear.
THE superficial news Of the week played
its part in bringing about break in prices,
but it must be admitted that there We're
other at least suggestive influences. We
use the phrase suggestive advisedly mas
much as the gossip was more serious than
the actual results. 1t Is undoubtedly true
that there is comparatively large short
interest in the market and 1t Is unlikely
that they will be permitted to cover with
special advantage to themselves.