Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-09
BULLS AND BEARS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. Aprl 9.-Because the stock
market has shown declining tendency for
two days, and because the news develop
ments were Of a favorable character 1t was
thought that the recovery which was In
progress at the close yesterday would go
still further today. Pronounced advances
were not looked for at the moment because
1t was believed by most interests that the
active issues would fluctuate within a COM
paratively narrow range. There seemed to
! be good deal Of confidence, however, on
the part OF representatives Of leading stock
exchange houses who are in touch with the
most powerful interests in the street that In
tnc near future the market would show still
further decided Improvement. It was
pointed out that undoubtedly the better con-
oltions now existing in the bond market
would have a decidedly favorable effect
upon the stock market. AS matter Of fact
was expected that the demand for bonds
would steadily increase for some time. 1t
appeared to be taken lor granted by most
interests that money would be extremely
easy Tor several months at least Author
ltes IN the bond market said that ii that
proved to be the case 1t would be possible
20 clear up practically all of the bonds that
nave been carried for about two years by
3: 'dicates and individual institutions.
president Harahan of the Illinois Central
VINO mas arrived here from the west, seems
10 agree with President Hill of the Great
northern as to the probability of a mod
crate dtminution of general business which
VIII be reflected in the volume Of traffic
onered to the railroads. With Mr.. HILL he
believes. however. that the slowing down
Will not amount to a general depression or
anything OF a serious character He says
that. SO far as he is able to observe the
railroads are now more nearly able to han
ole the traffic offered with a reasonable de-
gree OF promptness than they have been for
some time. He points out that the opening
OF navigation on the Great Lakes will ma
terially relieve the congestion that has ex-
listed on the lines east of Chicago AS to
the retrenchment policy that has been very
generally adopted by the railroads, Mr.
Harahan said that. in his opinion, all Of
the cars and locomotives that could be
turned out this year by the various manu-
featuring companies would be bought by
the railroads
AS to the construction Of new lines and
other important new works, he believed that
due caution will be exercised Mr.. Harahan
added that the recent municipal election in
chicago VIII nelp tnit city IN many ways
and that the people there are more optimis-
tic on the general situation than they have
been for a long time.
1t is claimed that the controlling interests
in the Wabash Railroad Company propose
to extend the $3.50. 900 notes due May 10
and that the refunding plan has been I'M
derwritten by local banking institution
but so far it has not been possible to learn
its identity.
1t is understood that J. Ogden Armour,
who will sail for Europe today, was present
yesterday at conference held in this city
regarding the affairs Of the Chicago Sub
way Company. Those in position to
speak with authority say that Mr.. Armour
is one Of the largest interests in the COM
pany Il Is intimated that final announce
ment may be made this week regarding the
Chicago Edison deal