Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-18
BULLS AND BEARS


Special Dispatch to The Star
NEW YORK. October 1s-Unless infor-
nation which could be regarded as definite
with respect to the Amalgamated copper
dividend was received. some time In adj
vance. most observers believed that to-
days stock market would be even narrow
er, until after the dividend was of1icially
announced, than 1t has been seen for some
days This morning there was the same
scarcity Of definite information as to the
Amalgamated dividend that there has been
for several weeks. Although 1t has been
commonly reported that Amalgamated
stock was pretty generally held by the
speculative contingent there was not the
degree Of interest manifested regarding the
action that the| Amalgamated directors
would take on the dividend question that
would be expected under those circum-
stances. One operator who has watched
tho transactions In Amalgamated for
long time expressed the opinion
chat the stock was not sale, even II no
change was made in the dividend rate this
afternoon. II the dividend was not in
creased, he expected Of course, that the
stock would sell of two or three points
temporarily, but he believed that on the
basis OF the enormous demand for copper
ana the larger earning power OF the ANAL
gamated and It's subsidiary companies the
tendency of the stock would be upward.
With respect to the general market. the
most common prediction heard was that
unless some new factor developed the trad
ing would continue to be largely profession
al and on relatively small scale. Men
who have investigated the matter said that
the commission houses were carrying far
less than what might be regarded as nor
NAL volume of stocks in q reasonably active
market and they suggest therefore, that
the buying power Of these concerns Is much
larger than has been generally realized.
1x@I a.,
morning do not believe that the higher
rates for money yesterday indicate forth
coming disturbance in the money market.
4 4
The heavy buying movement in the iron
and steel market continues and production
Is being regulated only by the available
supply Of pig iron. There is, says a Pitts
burg correspondent, practically no Bessemer
iron for sale, producers being sold out until
July 1. The nominal quotation on Besse-.
mer Is placed at so valley. However, any
one fortunate enough to have lot for sale
would find little difficulty in securing
price above that figure
Demand for semi-finished and finished
lines continues to rule in volume beyond
productive capacity. Billets are unobtain-
able Light rails are sold several months
ahead and structural shapes are enjoying
unprecedented inqiry..
Sheets are said to be commanding pre-
MUM prices in some cases.
The coke market Ia maintaining Its firm
and strong tone, and some producers are
predicting higher prices before the first
of the year. Furnace coke is being quoted
at s. to 1910. while foundry coke is rang
ing between $3.50 and "a. =
Dick Bros. & GOETHE market will not
be damaged by such reactions as that OF to-
day. On the contrary its position will be
strengthened, and If speculation Is kept
quiet for the moment there will be greater
reason to count upon substantial improve
ment later on. There seems no warrant for
serious money market disturbance. nor any
real reason apparent at the moment for
apprehension as to the outcome OF the
political campaign"
Naturally in a market so dull and in
which there is little or no general interest,
there Is a great dearth Of gossip or predic-
lions with respect to individual securities.
1t Is believed, however, that If professional
operators and the general public could be
assured of the election Of the republican
candidate for governor in this state the
buying Of the low-priced railroad issues
and Of many Of the Industrial securities.
beside the United States Steel stocks. would
soon become very general and pronounced.
A well-known bituminous coal operator
says that the soft coal trade is steadily i'm
proving and that the principal difficulty
now encountered by most Of the operators
is the scarcity of cars. He adds that prices
are steadily becoming more stable and that
the consumption Is rather rapidly catching
up with the supply. A few years ago the
trade was demoralized by the supply being
vastly in excess of the demand.