Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-07
BULLS AND BEARS
Special Dispatch to IN. star.

Special Dispatch to The Star.
NEW YORK. May IA good many
SPECTATORS were quite unanimous in agree
ting that market conditions were thorough
" sound and that the tendency would be
toward higher prices. This did not mean,
however. that they expected big advance
right away or believed that the movement
OF prices would be uniformly In one direc-
ton 1t was pointed out that In view of
the quite extensive advance from the low
level which took place at the end OF last
week some reaction was now about due.
Many who bought stocks on declines. which
now show them a good profit. would be in
clined to realize on their holdings. There
also still exists a strong bear faction which,
of course. is likely to take advantage OF
any realizing movements to depress prices
further In order to permit themselves to
cover at profit
The best opinion. however, was that de-
veiopments within the last few days so
strengthened both technical and fundamen-
tai conditions that security prices are not
likely to suffer much further. the settle
ment of the coal strike is regarded by close
students of economic conditions to be OF
moro far-reaching significance than appears
on the surface.
1t is believed that II viii go far toward
causing greater stability in the labor stu
unions throughout the country will here
after be far less ready to break with the
employers than they have been in the past
In short the settlement of this controversy
1t is believed means the establishment of
a principle which win be of the utmost
advantage to Industrial conditions through
out the country.
Men who have had opportunity to make
a more thorough investigation OF the mar
ket conditions since Saturday say that the
amount Of investment buying has not been
ot.,t4 IAad tr,r
railroad official said this morning that last
week the records of his transfer office
showed very large number OF new stock
holders whose purchases ranged from two
to fifty shares. He says that Inquiries re-
vealed the fact that similar purchases have
been going on in the case of nearly every
other good railroad stock on the list. This.
of course, is purely investment buying, the
stock being taken away from the street.
The best market judges are inclined to
the belief that the market in the immediate
future win subside in activity until the eff
fects of the recent disturbances have been
fully recovered from and that the tendency
will be toward gradually higher prices, 80
TAR as the general list is concerned.
The Chicago Ice Company has been in
corporated in that city. 1t is thought in
Chicago that the new company will at
tempt to force down prices. The project
Is backed by New York capital. The COM
pany IL permitted to deal In building ma
terials and merchandise.
The Knickerbocker Ice Company practical
Iy controls the Ice business Of Chicago.
~
The Delaware. Lackawanna and Western
Railroad Company and the Hudson Com
panys tunnel interests have reached an
agreement, which was filed In the regis
ter's office at Jersey City Saturday. where
by the tunnel company procures the right
to tunnel under the railroads tracks and
property in Jersey City. The tunnel COM
pany pays the railroad $4,000 for the
privilege
A Pittsburg correspondent reports that the
American Bridge Company Is to build the
largest factory building In the world at
McKeesport for the National Tube Works.
e wi