Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-03
BULLS AND BEARS.

Special Dispatch to The Star.
NEW YORK. April 3.-while there is no
disposition on the part of conservative in
terests, either in banking or in speculative
circles. to attempt to make q big upward
movement In the stock market in the near
future, 1t is generally conceded that condi-
lions are steadily becoming more favor
able. A prominent banker, In discussing
conditions both here and abroad today. said
that there is every indication that the
money market will work easier, both In
European centers, in New York and at
the principal points in the southern ana
western sections OF the United States. He
believes that q contraction in business is
inevitable. but, Of course, cannot make
any prediction as to what extent it viii go.
The announcement by Secretary Cortely0u
Of the plan for the refunding $50. 000, 600
government IS during July next received
this morning. 1t is believed that definite
announcement on this matter will have q
very favorable effect upon sentiment, al
: though under the terms of the plan the
money market may not be materially af-
fected.
The official announcement Of the retire.
ment Of James J. Hill from the presidency
OF the Great Northern Railway Company,
which was forecasted yesterday, did not
cause any surprise in railroad circles. It
had been known for some time that he con-
templating taking such action. Those
most familiar with the situation believe
that Mr.. Hills part in the affairs OF the
Great Northern will be equally as promi-
nent. for q time at least, as it has been
for many years. AS matter Of fact, the
chairman Of the board in most corpora
tions has greater authority than the
president.
The outcome of the municipal election in
Chicago yesterday was the principal topic
Of discussion this morning by the western
railroad and business men who are here.
They believe that it's Importance is very
imperfectly realized by most persons. They
point out that the large vote in favor of
the traction ordinances clearly shows that
a goodly number Of the common people, as
well as the moneyed interests, are thor
oughly tired of the municipal ownership
idea and were willing to do all in their
power to make 1t possible for the interests
who control the traction properties to
carry out their plan to give the city an
adequate traction system.
They further point opt that the res, t
Of the election is severe blow to the
Hearst element. for without it little would
have been heard of the municipal owner
ship idea during the campaign just closed.
Western interests believe that the eff
feet of the election upon the people Of other
cities who had become possessed of a desire
for municipal ownership will be even more
important in some respects than upon Chi
cage itself. In fact. they believe that the
death knell to municipal ownership In the
large cities of the United States has been
clearly sounded.
While it is generally agreed that If tie
directors of the Atchison road increase the
dividend on the common stock today to
6 per cent basis they will be adversely
criticised both In financial centers and In
the west. it seems to be pretty generally
understood that they will further raise the
rate to that basis. 1t Is known that not
few of the prominent directors in the COM
pany would be glad to keep the rate at 5
per cent but that they feel that they are
under obligations to advance it to per
cent. inasmuch as some time ago they prac-
tically agreed to take such action. Con-
sentative interests hope that at the last
moment the board will decide to leave the