Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-09-01
BULLS AND BEARS


ket was expected to be more or less irregu-
lar and undressing. It was confidently
predicted, however. by those who had been
studying the situation closely during the
last few days. that. beginning with the
London market on Monday, speculation In
American stocks would be renewed on .
large scale. It was maintained by men
who believed that they had good informa-
ton that within a few days New York
bankers would acknowledge having engaged
q large amount Of gold In London and
Paris. It was believed. also. that other ia
vorable announcements would be forthcom-
ing next week. Although 1t had been OIL
cially stated that there was little or no
probability OF the Atchison directors acting
on the common dividend at the meeting
called for next Wednesday, 1t was still
thought by some shrewd Observers that the
dividend would actually be declared at that
meeting and announced Immediately there
after. The belief was still strong that the
rate would be ~ per cent regular for the
SIX months and n of per cent extra, maxi
ing q per cent basis. It was claimed that
Amalgamated Copper stock for some little
accumulad ton. A sharp upward turn in this
stock was looked for In the near future. An
authority In the copper trade said that the
metal situation could not be more satisfac-
~
1t was understood that during the month
Of august the largest metal selling COM
panies in this country sold 100000 pounds
Of copper. This authority said that there
was very little copper in sight for nearby
delivery. In his opinion the directors of
both the Anaconda and Amalgamated COM
panies cannot we'll fail to increase the divi-
"a aaYf ~ a
the Amalgamated dividend would be at the
rate Of 8 per cent, but did not have def
mite idea as to what the exact rate on An
aconda would be.
Anse1 Oppenheim. vice president of the
Chicago Great Western Company. will go
to st. Paul next week to attend the annual
meeting of the stockholders of that COM
pany. 1t Is understood that no change will
be made In the board of directors and that
the meeting will be routine In character.
A preliminary statement Of earnings for the
past fiscal year has been made public. The
complete pamphlet report will be ready for
distribution on the day Of the meeting.
Arthur A. Housman, who has returned
from six months trip to Europe, enter
tains wholly optimistic ideas with respect
to conditions and the outlook both In Eu-
rope and in the United States. He said
that the flnanciers in the leading European
capitals have their eyes firmly fixed on con-
ditions in the United States, and that they
are believers in the prosperity with which
this country is blessed. He believed that
the large and prosperous corporations in
this country would continue to increase
dividends. Mr.. Housman did not have any
apprehension with respect to monetary
conditions, as he believed that they would
be satisfactorily adjusted in a short time.
X
The weekly financial review Of J. 8.
Bache & Co. says:
Independent and Individual movements
in stocks occur daily, and 1t Is unreasona-
BILE for the pessimist who persistently fights
the advance to assert that the bull move
ment has lost its vitality and only gains
its present source of inspiration from pure
ly technical conditions.
Following along, or rather leading the
procession, are the wonderful reports of
railway earnings coming to hand. State
ment follows statement with fattering in
creases in gross and net earnings. All
these point to increased disbursements to
patient stockholders, after large sums have
been set aside for extension and construc-
ton purposes.
1.-THE stock market will not only keep
up with the prosperous gait set by the
country at large, but, as records show in
the past, will go far beyond what Is rea-
sonable and conservative. 1t seems there
fore, inevitable that higher prices will rule:
the conservative SPECTATOR and investor
will wait for just such psychological mo-
ments as occurred this week to make their
purchases"