Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-23
AND Be ARS'


Special Dispatch to The Stsf.
NEW YORK, January 2a.-From what
could be learned after the close Of business
yesterday and again this morning. the buy
ing OF stocks yesterday was Of quite az
good character as that Of the day before
and probably the day before that In fact,
1t was asserted that some Of the largest
houses. which represent ordinarily some Of
the most important financial interests IN
Wall street. bought stocks rather freely
yesterday. whereas the day before they
were not inclined to do 30.
Both banking and specualtive interests
look Tor the money market to be compare
lively tight during April and May. after
which they would not be surprised to sec It
easy during the summer months. What
ever activity there may be In the stock
market speculatively. following the recent
big decline, they look for during the next
two months
The heavy transactions in Reading on the
decline are still puxziing to some Of tho Ia
terests who in recent years have been the
most active factors IN the stock market
operations in that security. Operators who
are understood to have closed out large
bull account at about $50 still intimate that
IN their opinion the stock is rather high.
1t has been generally known that these IN.
terests put out a very fair-sized line OF
short stock at the high prices. and that 80
1
more than a part Of the line at least.
-
A member Of the board who is in a posi-
ton to get particularly good information
regarding transactions in the Hartman is
sues. says that in his opinion the buying
OF most any other active stock on the list.
The report that the dividend IS to be in
creased next month apparently originated
t. As,,~ - D.NIy NH
had absolutely correct Information regard
ing the declaration Of the initial dividend
last summer do not profess to have any
definite knowledge as to whether an IN
crease will be ordered in the near future.
They. only say that the earnings warrant
a high rate.
Bankers in close touch with the Canadian
Pacific situation who for some time have
maintained that a new issue of stock would
be put out this spring, apparently have
changed their opinion, simply because they
have received information from official
sources that 1t would not be possible to
spend the money If 1t were obtained through
the sale of an issue Of stock. These bank
ers say, however, that undoubtedly the
issue would have been made If the manage
ment had felt at all certain that it could
secure the necessary materials and labor
to complete the improvements and extern
sions which have been contemplated for
some time.
k*
Apparently it is taken for granted by all
except few speculative holders, that no
change Of dividend on United States Steel,
common, will be made this month. Some Of
the best-informed interests who expect that
no change will be made do believe that
higher rate will be ordered three months
hence In fact, they are of the opinion
that the stock will be advanced to a
per cent basis at that time 1t is known
that large holders Of the common stock
of several Of the companies out of which
the steel corporation was formed, agreed
to go into the merger because they were
promised that the stock of the new COM
pany which they received for their holdings
would pay dividends whenever they were
earned It Is known that more than the
present rate on steel, common, is now
being earned, and 1t is believed that the
interests who made the promise at the
forma ton of the corporation will now see
that it Is kept.
While 1t is accepted as practical GER
tainty that the Erie management will be
required to do some. temporary financing
in the near future, some of the most con-
sentative interests in the street are recon-
mending the purchase Of the common stock
on the basis that the increased earnings
will justify higher prices for that security.