Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-17
BULLS AND BEARS|
Special Dispatch to The st,,-


Special Dispatch to The Star.
NEW YORK, December r.-From wha,
was heard yesterday 1t seems evident that
brokers do not expect that the banks and
other large lenders OF money will supply
them with funds during the next few
weeks to carry on an active speculation
In stocks. On the contrary, It is under.
stood that they have been informed thai
the manufacturers and mercantile inter.
ests must be supplied with money first
and that loans for purely speculative pur.
poses VIII be curtailed in every way
possible Not few brokers believe also
that the rates for money at this center
VIII continue high in the belief that only
In this way can funds that were with.
drawn by interior institutions be rede.
posted here.
y
Consequently commission houses as wei
as the investment houses, are planning tc
direct their attention and efforts chiefly
to the bond market. They think that In
view Of the uncertainty with respect tc
the maintenance OF the present rate o.
dividends, even upon sorae OF the lead.
ing railroad securities. investors generally
Will turn from the stock market to the
bond market. It Is believed also tina,
if the latter becomes considerably more
active during the next few weeks a very
fair proportion Of the January dividend
and interest money will be reinvested In
bonds. representative of one Of the
most active bond houses in Wall street
says that SO far the general bond mar.
ket has not shown distinctive signs OF
renewed activity, and that most Of the
transactions have been confined to spe-
cial issues. He looks, however. for
greater activity in both the speculative
and purely investment bonds before long.
Very little interest is being taken In the
stock market speculatively. as the rec
ords OF the daily transactions clearly at.
test Those who might be expected to
take the most active part In the specula-
tive movements apparently are not plan
ming to make extensive commitments on
either side in the near future. Conse-
quently, 1t is believed that there will be
little or no change in the character Of the
market between now and the end Of the
year, but that the tendency is more likely
to be downward than up.
X u
President Winchell Of the Chicago. Rock
Island and Pacific Railway Company. who
is in town this morning, says that railroad
traffic is keeping up better than the man.
ayers expected few weeks ago 1t would
do. AS to the. future. he said that he
does not care to make any statement, as
In view Of present conditions, no one can
make predictions that are worth much.
-
An Official Of one Of the best-known
southern iron companies says that there
is practically no demand for the COM
pany's products. A representative Of q
large manufacturing company closely al.
lied with the iron and steel trade says
that whereas the mills of his company
should have been very busy up to tbs
Christmas holidays. the trade fell OF very
materially in the midst Of the busy sea-
son and is still dull. He does not look for
any material improvement until spring.
He says that the iron and steel trade
generally Is dull and that no one can pre-
dict when the turn for the better will
come, but when 1t does arrive he thinks
that business will be decidedly brisk,