The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-01-21

an early collapse To this possibility
may be attributed the policy of the
Standard Oil crowd not to increase the
dividend OF Arnalgamated Copper from
s per cent. TO 10 per cent. although the
earnings would have fully justified such
a dividend.
Maybe that Standard OH did not wish
TO further encourage the Boston Copper
bull movement, but would rather see 1t
cool down. for the wilder 1t becomes, the
sooner the collapse will follow. and this
would interfere with the interests. plans
and prospects OF Standard Oil in a wider
and more important f1eld-Wall Street.
The Steel Dividend. !
The action OF the directors Of the Anal
gamated Copper Company in not ncreas-
ing the dividend can also be considered
as an indication that there will not be
an increase IN the dividend on the United
States Steel common stock. for the powers
that control Amalgamated Copper are
also powerful in the councils of the Steel
Trust. The Steel Trust directors meet
January 18th, and unless change OF
mind should come over the steel mag
mates, the regular X per cent. quarterly
dividend will be declared. AT that meet
ing, however, statement will be Issued,
showing an enormous business. a tremen-
and condition OF assets and earnings
OF the most ENCOURAGING character. These
magnates feel that the market Is at
present not In the right mood TO appre-
ciate Increased dividends. but may do 1t
later, when the April meeting comes and
the Industrial, monetary and political sit
uation begins to look more hopeful.
The Hartman Stocks.
Speculation will soon begin to turn its
attention to the next dividend of Union
be decided upon about the middle of Feb
ruary. At present the impression pre-
walls that the 10 per cent dividend on
Union Pacific will be maintained. and
that OF the Southern Pacific may be
raised to per cent, In view OF the plle-
nomenal increase in the net earnings of
this road. A great deal. however. de-
ponds upon in what mood Mr.. Hartman
and his associates may be at that time,
for the Investigation OF his roads by the
Interstate Commerce Commission will be
resumed at the beginning OF February,
when very interesting results are ex-
pected by the public.
In this connection there IS an interesting
piece OF gossip going around. 1t Ia said
that frequent meetings of representatives
of high finance are taking place to con-
slider how further Corporation baiting,''a
as these interests call Investigations of
their doing. could be stopped. It Is said
that plans are considered to reach the
President by men, who enjoy his conf
deuce. to induce him to ''let off" upon
the promise that these big interests will
reform" and put into operation whatever
reasonable suggestions the President may
make In the public interest. SO as to
N
must effect the security market. wreck
prices. stop the prevailing prosperity and
the possibility OF raising the necessary
means to place our railroads on tho most
efficient basis, Whether tho President will
he accessible to such proposition Is
doubted.
At the same time the most conspicuous
mouthpiece OF the big interest. the New
York Sun, which is said to express the
opinions Of the house OF j. p, Morgan
& Co. In important financial matters,
continues to attack the President ,ercely
to fasten on him tho responsibility for
crash In the stock market and the col
lapse OF prosperity
10 Take Waiting Position.
In the meantime. or at least for a few
weeks, the big interest seem 10 be- In
cltned to assume q waiting position and
to extend their market operations to
mild support OF the market, should the
temporary reactionary tendency continue,
In their view urgent liquidation by pools
has ceased.
A turn to the better can come only
from tho development of new purchas-
ing forces. which may come as soon
as the public begins to feel that the
prices have reached their bottom and
II Is ascertained that the bears have
overreached themselves and have sold
more stocks than can be bought back
at low prices. Then there viii be al,
onslaught on the bears, who. II they
find the market bare Of stock, win run
to cover and bid prices up. This
eventually may be the signal OF the
usual spring bull movement,
LOUIS GuENTHER,