Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-08-16
BULLS AND BEARS.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 18-As the day adj
vaHced yesterday the remark was FREE
quently heard that the more cheerful seuti-
ment was due to the rally which set in soon
after the opening. Undoubtedly. SO far as
ordinary speculative circles were concerned.
this idea was very well founded. because in
those circles prior to the opening and until
after the market turned upward there was
grave apprehension of serious trouble at
any moment. In important banking circles.
however. where a greater degree Of conf
dence was expressed yesterday than for
many. weeks back. 1t was generally under
stood before the opening and even the night
before that conditions were shaping for a
very general improvement not only in the
stock market. but in affairs which have
much to do with the course OF the market,
and which, therefore. would result In far
more than a temporary upturn Of prices.
/ Important operators who had been ex-
tremely conservative for q year or more
yesterday were free to express the opinion
that turn for the better had come and
that from this time on there would be good
reason for taking a more cheerful view of
the situation. both politically and fnan-
cfally. They expect. of course. that the
market will be more less irregular for
some little time. because Of the great shock
TO confidence and the tremendous slaughter
OF prices and in some cases, 1t is believed
OF fortunes. They think. however. that the
federal authorities will be far less agrees
sve. at least more conservative with re-
spect to corporations, and that such
change of policy will undoubtedly restore
confidence to considerable degree. They
know that II confidence Is restored even
In ha Hnor 81
VIII improve proportionately and one of the
chief features of the Improvement. thew
tnink. Will be the appearance in the regular
onannels or business of surprisingly large
amount OF actual money.
X
Inc information comes from good sources
that powerful group Of capitalists, who
nave been credited with having more to
90 with depressing the market than any
osneI group SO far as operations on the
snort side are concerned have changed
their position and now buyers There
Is said to be very good authority for the
statement that this group of capitalists
were not responsible for the severe break
Tuesday, but that 1t was engineered by
far less important operators, who selected
the psychological moment and conducted
thelr campaign with surprising skill. Some
interests very well informed generally re-
garding forthcoming movements in the mar
ket would not be surprised to see very
sharp up turn within the next few weeks If
1t Is favored by certain powerful bank
ing interest
y
There is excellent authority for the state
ment that wel-defined agreement was
entered into by representatives Of the fed
eral government and of the Chicago and
Alton Railroad Company that If representa-
tives of the Alton would give the desired
Information regarding the company's af-
fairs in the Standard Oil proceedings 1t
would be granted immunity from further
was not given, but it Is understood that
representatives of the railroad company
maintain that the contention Of the Judge
Is based in reality only on the inability Of
one of the witnesses to answer questions
asked because of his lack of Information.
1t Is believed that the agreement will be
sustained.