Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-15
BULLS AND BEARS
specla1 pi.patch to IVA st.r.

Special Dispatch to The Star.
NEW YORK. August 15.-There was
some disappointment over the fact that the
market did not display greater activity.
Il was understood, however. that men who
were watching the transactions closely were
very fdyorably impressed with the buying
in Union Pacific. Southern Pacific and At
Gibson. They said that there was buying
for the same foreign interest who bought
heavily OF Union Pacific and Southern Pa
ciflc when both stocks. particularly the
former. were selling very much below pres
ent prices.
These observers could not help believing
that If these foreign interests were willing
to buy these three stocks on top Of sharp
advances that there must be important
plans pending which would materially en-
nance the market value OF these three
stocks at least. and probably others.
80
There was still some difference Of opin-
ion regarding the money market during the
next few weeks. A well-known institution
in this city which last week received an
inquiry from one of the largest commits
sion houses on the street for rates on
large loan over the end Of the year, only
today received another inquiry Of the same
nature from a representative house In this
city. Although the money market promises
now to be easier q month or six weeks
hence than was predicted a few weeks ago.
these inquiries lead some observers to be-
lieve that the largest houses in the street
were still afraid that money would be tight
before the first Of the year. In each of the
instances quoted II was understood that
the houses making the inquiry signifed
their willingness to pay 9 per cent for the
accommodation desired.
4
T.
President Earling Of the st. Paul was
expected today In New York. 1t could not
be learned. however, that any important
announcements would be made after the
regular weekly meeting Of the executive
committee tomorrow afternoon. 1t was not
certain that a quorum could be obtained
for that meeting. The fact. however, that
President Earling has been making much
more frequent trips to this city than has
been his custom in previous years leads
many persons to believe that important
plans in connection with the company's
affairs have been worked out.
X X
George F. Randolph. vice president of
the Baltimore and Ohio Railroad Company,
is in town. This was the regular day for
the weekly meeting for the executive COM
mittee. 1t could not be learned in ad-
vance whether any changes in the board
would be announced 1t was intimated after
a recent meeting of the executive committee
that If any designations were presented
such action would be taken only at a meet
ing of the full board of directors.
X X
man in close touch with the affairs OF
the 800" lines expressed the opinion that
when the directors Of that corporation
meet next month they will not make any
change in the dividend on the common
stock. While he admitted that the earn
ings were largely in excess of the 4 per
cent which was now being paid, he init
mated that 1t might be necessary for the
company to keep Itself very strong hnan-
cially. inasmuch as formidable opposition
might be encountered from the Hill lines.
It Will be recalled that the 500 manage
ment has been ambitious and aggressive
with respect.to invading new territory. So
far no serious opposition has been encoun-
tered. but apparently the management
would not be surprised to see something de-
velop along that line.
kF
1t will be recalled that ten days or more
ago it was stated that one or more Of the
large western railroad systems were bid
ding for control of the Colorado and South
ern.
1t was not believed by interests who
are familiar with the value Of that prop
erty that Edwin Hawley and his ascot
ates would part with control for $40 a
share for the common stock Since Mr..
Hawley purchased control of this property
1t has been developed wonderfully, The
earning power has increased materially.
and when the new line to the gulf is open
the company will have through line from
Denver to the gulf. The proposed Pacific
coast extension Of the st. Paul crosses the
country. only 200 miles north of the upper
terminus of the Colorado and Southern
system; 1t Is not unlikely that the latter
will build an extension to connect with the
former.
- ~ '-s"-ai.ss
A telegram from Galveston says that the
second flood in west Texas has n;Ied I'm