Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-30
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK, April 9O.-It is believed that
for some little time the stock market will
follow the grain market very closely. and
will respond quickly to the reports regard
ing the growing crops. because 1t is realized
that the business of the country six months
later will depend very largely on the final
results as to this years out-turn Of grain.
1t is generally believed this morning that
the better tone Of the stock market yes
terday was due chiefly to the reports of
general rain in the west and south.
President Harahan of the Illinois Cen
trail, who il in town this morning, says
that wheat and cotton have been damaged
to some extent. the former chiefly Ivy the
green bug and lack of moisture. and the
latter by low temperatures. He says also
that fruit in the west and southwest has
been damaged to a considerable extent by
last two three weeks. He explains that
the weather in March in those sections was
SO warm that the buds started earlier than
usual. only to be nipped few weeks
later. He calls attention to the fact. how
ever, that 1t is yet far too early to speak
of the crops only In the most general
terms.
~
Mr.. Harahan says that a large amount
of traffic is still being offered to the rail-
roads, but that the situation has eased
sufficiently to make 1t possible to handle
the business more promptly than the rail-
roads were able to do for some months.
About month ago, he says that less than
one-half OF last years corn crop along
and adds that only a comparatively small
amount was delivered to the railroad by
the farmers during the last four weeks.
because they were busly engaged In pre-
pairing the ground for this years crops.
At some points. notably Memphis, there Is
still large amount OF cotton awaiting
shipment. although on the whole the cotton
crop. he says, is pretty well moved out.
He believes that the planters have very
generally sold their cotton, and what cotton
has not been shipped is largely at the COM
pressing point.
He says also that there IL till considera-
Bile wheat in the country to be moved. Mr..
Harahan believes that there will be some
falling off in certain lines OF business later
on because of the policy adopted by the
railroads generally several months ago 10
hold in allegiance all new work not absolute
ly necessary for the moving of the traffic
In sight.
-
Most of the rumorS In circulation yester-
day with respect to the Union Pacific are
not credited in well-informed circles. If 1t
becomes necessary it is known that the
controlling interest of that company and
the Southern Pacific will bring forward a
plan for the preservation of the invest
ments Of the Union Pacific, of which. OF
course, the Southern Pacific Is the largest
and the most important. Some shrewd OBJ
servers think that If an important move
ment in Union Pacific were really under
way there would not be as many rumors
afloat as there were yesterday. 1t Is gen.
orally conceded. however. that when the
market does begin to broaden on the buy
! ing by substantial interests Union Pacific
| vii be easily the leader.
| 1t is understood that for some time the
| two most prominent interests in the Arm OF
c. G. Gates & Co. Rave been considering
| retirement from the firm and from business.
| 1t Is expected that an announcement to this
effect will be made in the near future.