Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-28
BULLS AND Be AIRS

Special Dispatch to The Star.
NEW YORK. January 28.-In the dis
cussion OF the stock market in speculative
quarters since the close Of business on
Saturday. 1t has been easily discernible
that the prevailing opinion il that prices
are likely to work to q lower level. Those
who take this position continue to empha-
sixe the probable adverse effect upon the
market OF litigation and legislation against
the corporations, both of which are regard
ed as inevitable. 1t is still argued that It
viii be practically impossible to carry on
an active speculation in stocks II the de-
mands Of the corporations for additional
capital are to be anything like as great
as 1t is now predicted they will be.
There are some. however, who still main
tain that the spirit Of pessimism. which -is
now SO much in evidence. is being carried
too far and that within a reasonably short
time 1t will develop that 1t will be entirely
possible to have a reasonably active mar
kee and that the prices Of many securities
win recover materially.
Prominent stock market operators who
have talked since the elise Of business on
saturday, with weli-knUwn manufacturers
ana mercantile interests in the west, say
that the latter tell hem that they ar: at
mtsm In Wall street, which is now so pro-
nounced. These business men say that
throughout the west, there are no fndica-
lions Of q falling-on in trade. and that the
present prosperity seems to be of an en-
ttrely healthy character.
In connection with the recent decline in
Mexican Central stock 1t has been inti-
mated that a hitch might have occurred in
the deal to sell control Of the company to
the Mexican government. AS a matter Of
fact. no hitch has occurred, and it is not
unlikely that an official statement Of de-
tailed character will be forthcoming in the
near future in which will be set forth the
terms on which the securities of the old
company are to be exchanged for those of
the new corporation. If the truth were
known, it would ;-obably be found that the
decline in Mexican Central stock was due
chiefly to selling by interests who bought
on the belief that much higher price
would be paid for control than has been
agreed upon.
Whether the directors of the United
States Steel Corporation at their meeting
tomorrow, will or will not increase TIE rate
Of dividend on the common stock ceased
to interest Wall street week or more ago,
although for palpable reasons, there was,
until the closing days of last week, more or
less gossip on the subject Taking 1t for
granted that there will be q continuance OF
the present rate, of per cent a year on
little steep' the meeting tomorrow Is with
out special interest. The most important
meeting in the company's year will be that
to be held in April, when successors to Ell
bert H. Gary, ]. Pierpont Morgan, George
w. Perkins. Henry H. Rogers E. C. Con-
verse; Henry Phipps, Thomas Morrison and
James Galley are to be elected to the d.
rectorate. That these gentlemen will be
continued in the board is admitted and
wished by all stockholders who have no
axes to grind. for 1t Is conceded in all quar-
tiers that the management Of the corpora
ton Is above criticism from every point Of
view.