Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-15
BULLS AND BE AIRS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. January 15.-In spite Of the
temporary setback which the Stock market
experienced yesterday afternoon. chiefly be-
cause of the widely circulated rumor OF an
impending offering of stock by the Chicago
and Northwestern Railway Company. 1t is
the belief of some spectators that the ten
dency OF the market will be toward i'm
provement. 1t is stated that some OF the
largest operators are ready to make pretty
extensive commitments the long side
as soon as they can be reasonably assured
that the Improvement will be continuous
A European banker who has just arrived
from London says that the sentiment in
that center is optimistic with respect to
the European situation. but that some APP
prehension exists regarding American Sc
curities, largely because Of the increases In
the capitalization Of severa l OF the
railroads already made and the expec-
similar character will be made
In the near future. On the contrary. adj
vices received here from European repre-
sentatives Of some of the largest interna-
tlonal houses Indicate the tendency on the
part of foreign interests to buy our stand
ard stocks and bonds.
In view Of the expectation that more of
the railroads and some Of the industrial
COTpOTdtlOu5 Will SOOu dSh ti1elt
holders to ratify issues of stocks or bonds.
1t is generally expected that the market
will be more less irregular for a little
time. Some Of the largest interests be-
heve, however. that In due time the street
will come to regard In a more favorable
light the capital requirements of the cor
porations and it will be seen that invest
ment Of this money will materially increase
the earning capacity and will make 1t pos
sible to maintain the present rates of divi-
dends as long as the business offered Is
anything like what 1t has been for many
months, and what 1t promises to be for
many months to come.
President Hughitt of the Chicago and
Northwestern is still in town. but while
western railroad men who are here under
stand that the company Will announce an
offering of stock In the near future, no
one seems to have positive information as
to the proposed amount and the terms on
which the offering will be made.
President Harahan Of the Illinois Central
has come on from the west to attend the
meeting Of the directors called for tomor-
row, at which action will be taken on the
semi annual dividend. So far no intima-
ton has been made that an increase will be
ordered. From what President Harahan
says 1t does not seem at all probable that
nounce any increase in Its capitalization in
the future. He says that the COM
panys facilities are adequate for handling
the business in it's territory. OF course.
there has been some shortage of cars and
some congestion of freight at terminal
points. but nothing OF a serious character
in either instance.
X Il
W. W. Gurley. general counsel Of the Chi
cago Union Traction Company. who has
been in New York for some days regarding
the affairs of the company. will leave for
Chicago this afternoon. He says that the
new traction ordinance which was to have
been presented to the council last night by
voted until February 2. In the mean
time an opportunity will be offered for
the filing of petition to have the question
brought before the people at the spring
election on q referendum vote.
If no such petition is filed the ordinance
will be voted on under the law on February
2 If the petition, signed by the requisite
number Of citizens. Is filed prior to Febru-
airy 2 the ordinance cannot become enec-
tive unless carried by a majority Of the
referendum vote. The best informed inter-
ests do not look for the petition to be
filed for that vote.
Contrary to statements published in Bos-
ton yesterday the United States Rubber
Company has had very good boot and
shoe business this winter. In all sections
Of the United States the weather has by
no means been as mild as 1t has been In
the east. Early storms in the northwest
materially stimulated the trade. and the
severe blizzard that has been raging in that
section for several days will be an inn
portant factor in the business of the sea-