Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-02
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK, April 1.-The White House
statement concerning the Presidents atti-
tude toward railroads has been variousiy
interpreted in financial quarters, and there
was considerable difference of opinion al to
whether on the whole It should be regarded
as reassuring or as alarming. Yesterday 1t
was plain to be seen that the sentiment of
Wall street, as q whole, was more truly
/ hopeful than 1t had been In many weeks,
and for that very reason not q few OBJ
servers expressed the opinion after the
close yesterday that the statement would
be favorably Interpreted. This idea was
expressed on the basis that when the ssnti-
ment Of the speculative contingent IL opti-
mistfc 1t IL inclined to puts favorable con-
structton on all important announcements
when such construction Is at all possible.
-
prominent operators were unable this
morning before the opening Of our markets
to decide whether the sharp decline Ia
American securities in London represented
the attempts Of foreign interests to take
accumulated profits on q relatively narrow
market or whether they represented re-
newed short selling and liquidation on fresh
apprehension regarding the attitude OF our
President toward our railroads In view
Va tAO oShlluucII anu the CQaTuCtcE OI our
market Yesterday. some observers believed
that the New York market would display
considerably more strength before the day
Is over than was reflected In the London
quotations for American railway shares in
the early trading today.
1t was generally believed by conservative
banking interests that unless some new
disaster arises the active issues struck bot
tom week ago yesterday, and that the
tendency for q time at least would be to-
ward higher prices Yesterday, and for
several days before, 1t was believed that
the market would rally still further and
then gradually recede into a period Of ex-
treme dullness pending a readjustment Of
trade and monetary conditions
~
An official Of a large western railroad.
when asked for his opinion as to the prob
able effect upon general business Of pres
ent financial conditions. said that he does
not look for a material falling-of during
the present year.
According to Information which officers
in his company have recently received.
there Is a much larger proportion Of last
years crop still in the hands Of the pro-
ducers and the jobbers than is realized in
the east. He believed that If the figures
regarding the grain situation which his
company has received are even approx
mately correct It will be possible for all of
the large western grain-carrying roads to
show substantial increases in gross earn
tngs up to the time that the new crop is
ready for shipment. After that, he says,
OF course the traffic of the railroads and
the business of the country in general will
depend very much upon the character of
this seasons crop. Other railroad men who
have been interviewed are Of practically
the same opinion as to the outlook for
business during the balance OF this year.
but nearly all OF them are OF the opinion
now business will have fallen OF suff1-
GENTLY to materially affect the prices of
both labor and materials.
Frequently rumors have been received
from st. Paul that James J. Hill was about
to retire from the presidency Of the Great
Northern Railway Company Those who are
best acquainted with Mr.. Hill have never
believed that he would be willing to give I'D
his grasp Of the Great Northern situation
SO long as he was physically and mentally
able to direct the affairs Of that corpora
ton. 1t Is now definitely rumored among
railroad men In this city that before very
long Mr.. Hill will announce his intention Of
retiring from the presidency Of the Great
northern and of becoming chairman of the
board. an office which would be created for
the purpose Of carrying out his plan. In
the event Of his taking that step. 1t Is said
Stevens. until recently chief engineer Of
the Panama canal. and who for many years
was In the employ of the Great Northern,
will be elected president of the company,