Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-25
BULLS AND BEARS
Special Dispatch to The Star.

NEW YORK. May 25.-Yesterday's i'm
provement in prices has engendered more
hopeful feeling regarding the future course
of the market. weil-informed speculative
interests. while not unanimously OF the
opinion that the upward movement would
be continued on large scale In the fmme-
diate future. were inclined to take q con-
servatively buIlish position. II was pointed
out that the market had become pretty
well sold out and only aggressive move
ment In certain stocks would be necessary
in order to stimulate general covering or
short contracts. Operations of this nature
were believed to have been chiefly RESPONSE
Bile for yesterdays upward trend In the
general market.
According to information received from
good quarters today. 1t was stated that
weil-organized party was working for
higher prices in the hard coal stocks. A
good deal of the buying of these Issues
was admittedly on the theory that the al
thracite roads would divest themselves of
their coal properties, turning them over TO
separate corporations. the stock Of which
will be distributed to the shareholders In
the anthracite roads 1t should be stated.
however, that the highest legal talent was
or The opinion that the anthracite roads
would not be compelled to take any such
steps by reason of any recent court de-
cisionS or new law enactment inasmuch as
to own coal lands and mine and sell tvs
product If the companies should choose to
do so of their own voIition.
Some of the shrewdest operators were
still inclined to await further developments
before re-entering upon heavy commitments
on the long side, although they admit that
the market was in a position to advance
whenever strong banking interests under
take buying movement The passage or
the free alcohol bill, it was thought was
likely to be followed by additional improve
ment in distillers.
1t will cost the seven railroads for tbe
change of grade in the Chicago city limits
about S,00O,0OO to comply with the
plans recommended by the track elevation
committee The roads to be elevated and
cost OF elevation and subways are as fol-
lows: - 80
Fort Wayne 81, COG. 600; Lake Shore ST.
5Ooooo; Baltimore and Ohio, $500 900; South
Western Indiana, 100000; Chicago and
Eastern Illinois, $4,000; and Rock Island,
sG0O,000.
1t is reported from Nashville, Tenn, that
Chancellor Allison of that city yes .erday
granted an order restraining the issuance
of 81. 100000 Nashville bonds voted on August
8, 1901. to subscribe for 81 100000 stock of
the Nashville and GAINESVILLE railroad now
the Tennessee Central railroad Justice
Clark of the United States district court
on June II. 1893, granted a temporary in
junction restraining the city officials from
making the issue. The question hinges on
whether or not enough Illegal votes were
cast at the election to affect the result. The
legislature in 1903 passed an act ratifying
the action of the city looking to the issu-
ance of these bonds. Yesterdays order will
hold until case involving the validity of
the subscription Is decided by the Supreme
Court.
From Camden, N. J., it is reported that
II. c. Prick is negotiating for a tract of
land at Camden a site for large new
steel plant. The property is located on
Broadway and is adjoining to the New
York Shipbuilding Company's land The
Southern Railway Company has purchased
the old Trigg shipyard property at Rich
mond, Va. for extension of its local tracks
and warehouse facilities. The property ac-
quired covers sixteen acres of land lying
between the city docks and the James
$l07 600.
X
The supreme court of Georgia has hand
ed down a decision holding the Central of
Georgia Railway Company and the Georgia
Railroad and Banking Company liable for
taxes on 1900 shares of stock held by each
OF them in the Western of Alabama rail-
way. The taxes date back to 1S95 and