Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-11
BULLS AND BEARS
Special Dispatch to The Star.

| Special Dispatch to The Star.
| NEW YORK. March liza notable
change in sentiment on the part of the &C
tive speculative interests In the stock
| market has taken place since the close OF
business on Saturday. It was easy to dis
cover from the discussions Of the market
| on Saturday afternoon, yesterday and this
morning that operators who have been
heavily committed to tho bear side have
seen suficient buying OF the standard
stocks by prominent interests to make them
| uncertain as to their position. Specula-
tors who have not been specially pessi-
naistic regarding the market, but who have
not been disposed to buy stocks are con-
ndent that this week we will have sub
stantial and general rally. Az to there
being sustained upward movement ex-
tending over several weeks, there Il not the
same degree Of confidence, because It IL
seared that monetary conditions and the
rear OF further legislation and litigation
would nuke such q turn in the course Of
prices practically impossible.
It Is now coming to light that the fresh
buying Of the standard stocks last week
was Of far better character and far
moro extensive than those who were carried
away with hysteria OF pessimism realised.
Undoubtedly some Of the heavy buying
represented the covering Of large short ac-
counts, but 1t is learned there was the best
sort OF buying OF many Of the standard
odVaoeno,paying stocks which have suffered
severe snr1nkage. In addition to the pur-
chase Of 25,O0O shares of steel common
oy single stock exchange house. a repre-
sentative OF large International house
SAID this morning that on Saturday he pur-
chased 10000 shares Of steel common for
single account. So on through the list It
IS understood that there has been heavy
buying OF the leading issues.
some observers have been expecting
Canadian Pacific to decline still further
than 1t has trus far. It has been repeated
~ pointed out that on the basis of the
oivloend return the stock Is still much
nisher than many Of the issues OF lead
ing railroads operated entirely IN the
United States. Those best informed saw
mat Tor several years the bulk of Canadian
acinc STOCK has been so held that an ag-
eresslve bear attack would not be likely to
meet with marked success It Is learned
that on the decline from 200 to present
prices large amount Of stock in small
lots has changed hands, At the present
time the number of stockholders is between
lS,OO0 and 1900. A representative of the
Canadian Pacific says that all of the com
pany INES are now in operation. and that.
beginning with the current month, he be-
i1eves that the earnings will make a very
creditable exhibit, w.
"A week ago today was the regular time
Tor action On the $500 dividends. but SO
tar 1t has not been possible to learn from
representatives Of the company in this city
whether any action was taken, and, II not,
when the board will pass upon this matter
A man who is closely associated with
prominent interests in the 800" line SAYS
he does not look for any change in the
common stock dividend this spring. On
the recent declines in both the preferred
and common stock It is learned that there
has been further considerable distribu-
ton OF each issue. The naw purchasers
were chiefly in the New England states,
the west and abroad
About week ago a prominent man in
this city who has always been a great be-
lever In Twin-City Rapid Transit bought
outright several hundred shares of the
common stock at about par. At that time
he regarded the security as extremely cheap
at those figures and congratulated him
self upon being able to secure 1t at q
lower price than he ever expected to be
able to do. Last Saturday the stock sold
as low as 901s. While the company will
be required to contest the movement now
well under way for lower fares on its lines
inside interests are still confident that the
provisions OF the company's charter with
respect to the question of fares will fully
protect 1t in whatever litigation or legis-
lation may occur.