Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-05-03
BULLS AND BEARS

Special Dispatch to The Star.
NEW YORK, May 8-yn some Of the
] largest commission houses in Wall street
the opinion was expressed yesterday that
the movement in the Union Pacific issues
was largely, II not altogether, Of q specula-
tive character and that nothing Of fua-
portance regarding tho company's Affairs
ON which such q movement could be based
would be announced I'm the near future. A
close observer Of the market, when asked
this morning for his opinion regarding the
heavy trading and correspondingly sharp
advance In Union Pacific. said that to him
the stock was suspiciously strong. He did
not seem to be altogether certain as to
whether the movement should be regarded
as purely a manipulative one or as fore
casting important Developments. like that
Of the declaration Of the greatly increased
dividend last August. It is recalled. how
ever, that prior to that announcement
Union Pacific stock was notably active. nor
did 1t display special strength. It is point
ed out that undoubtedly for some time be-
had been accumulated on q large scale by
prominent inside interests. 1t il suggested
that II there was heavy buying by those
interests at this time. the street would
which have been in circulation during the
last few days
"a
In spite Of all of. this 1t is believed by
some conservative interests that In due
time important announcements will be made
by the Union Pacific management. In the
meantime, 1t Is pointed out that the stock Is
entitled to still further advance on the
basis Of its dividend return alone As to
the question Of harmony In the Union Pa
cfffc management. a banker who 10 In
position to get good information, expressed
the opinion some two weeks or more ago,
when Union Pacific stock began to display
special strength, that whatever differences
may have existed among large inside IN
terests In the company had been adjusted
and that In the bringing of the settlement
about the chief executive had had the sup
port and assistance Of two of the most
powerful members of the board.
X
There Is great diversity of opinion re-
garding the advisability of the officials In
railroads in the United States attempting
to have valuation placed upon their prop
critics.
Not few railroad officials and bankers
believe that 1t would be largely a waste Of
money and effort. Some interests are of
the opinion that the men who control the
affairs of the large railroad systems of
this country do not have an adequate idea
OF the actual value Of the properties rep
resented by the outstanding securities.
A railroad expert In discussing this ques-
ton this morning said that in his opinion
it would be well fer the railroads to have
an inventory taken, the same as Is done
for mercantile concerns at least once
year. He believes that most Of the rail-
road managers and large stockholders do
not know anything definite regarding the
value OF the properties which they repre-
sent or In which they are Interested. He
thinks that 1t would be wise to have the
valuation made regardless of what the gov
eminent may do along this line or without
any idea of creating a favorable impression
In the minds either Of the stockholders or
OF the public at large, not to speak of
politicians.
The directors Of the United States Rubber
Company held their regular monthly meet
ing yesterday afternoon, and at its close
1t was officially stated that nothing of
interest or importance to the general pub
lie was considered. The matter of taking
over the 1nterconttnentaI Rubber Company
Is being considered Informally, but it Is
not believed that the controlling interests
in the United States company are DESTROYS
of carrying the deal through in the near
future, If at all. brief meeting of the
rubber goods directors was also held, but
the business transacted was Of routine
character.
~
Representatives of some of the bond
houses say they were confident Of better
bond market in the near future, but that
the action of the Atchison directors will
give 1t q fresh setback They also are of
the opinion that other railroads which NAV
come into the market for additional money
Will be compelled to pay correspondingly
Mt afro
thought that If the railroads come forward
generally for additional working CAPITAL
there will be little money left for specula-
ton. particularly II the crops are satisfac
tory and large amount OF money Is re-
quired to move them.