Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-29
BULLS AND BEARS
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK. October 29-The higher
quotations for American securities in Lon
don this morning were taken as evidence
OF renewed confidence on the part OF the
London interests regarding the future of
the money market at that center and at
Paris. and also as evidence Of greater con-
fidence on the part OF American interests
with respect to monetary conditions here
and probably the outcome OF the election
in this state. In speculative quarters here
there seemed to be less apprehension re-
garding the latter matter than there has
been at any time during the campaign.
and the opinion was expressed that the
stock market this week would be at least
steady. and some observers would not be
surprised to see q rather marked demon
stration Of strength. 1t il understood that
within the last few days commission houses
here have received inquiries from corre-
spondents and representatives at various
important centers. both in the United
are the best purchases. The houses which
have received these inquiries say also that,
Judging from similar inquiries which they
have received locally, the tendency to buy
stocks Is much stronger than that to sell
them.
While some Of the best informed men in
the market apparently have not received
any direct official or authoritative intima-
lions that the dividend on United States
Steel common will be increased at the
meeting of the board tomorrow they point
out that the tape indicates higher rate.
Conservative observers are inclined to be-
lieye that the best policy would be to MAIN
tain the rate on per cent basis for the
rest Of this fiscal year. which ends Deem
Der 81 next. They admit of course that
the earnings of the steel corporation, the
present condition of the steel trade and the
outlook for at least six or eight months to
come warrant an Increase at this time.
Nevertheless, they believe that the d.
rectors should act with unusual conserva-
tism on the question Of restoring the stock
to the per cent rate which was paid at
the outset.
Chairman Shonts of the Panama canal
commission. who Is in town this morning.
says that while there has not been any es-
pecially important developments recently In
connection with the negotiations which
have been In progress for some little time
for the purchase by one of the important
trunk lines of the Clover Leaf property.
the matter Is moving along steadily. There
is good reason for believing that when
iuouetaTy cONOltlOnS DeC0me more SatlS-
factory several important railroad deals
will be carried through whereby some of the
largest Independent lines and systems will
be acquired by the larger systems.
=
Several weeks ago 1t was intimated by
well-informed banking interests that plan
for giving the Great Northern railway
stockholders a large extra distribution of
profits would be worked out and put into
effect before January 1 next From what
can be learned, If the monetary situation
works out satisfactorily in the meantime,
both this plan and one for giving the
Northern Pacific stockholders a big bonus
will be carried through before the close of
the present year. Well-informed interests
are looking also for additional rights on St
Paul stock within about sixty days. The
idea still obtains that Southern Pacific
shareholders will also receive rights within
q comparatively short time. The buying
Of Baltimore and Ohio Is said to be of an
excellent character. but whether this buy
Ing is based on something more important
temporarily than the large earnings of the
company has not been disclosed thus far.