Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-09
BULLS AND Be AIRS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 9.-Sentiment with
respect to the stock market for the rest
of this week. and perhaps longer. was con :
siderably mixed this morning. The traders
and some of the large operators were n
clined to be bearish. They maintained
that there was little probability ,f money
working easier in the near future to the
extent which 1t has been claimed it would
do. They also asserted that there were
other features in the situation, notably the
investigation of the Hartman lines. which
would make 1t practically impossible to
create any general interest in an upward
movement in the market as a whole.
The larges: interests. however, and those
which have the market in control, were
still optimistic with respect to the out
look. They said that there had been no
reason for assuming that the, money mar
ket would become normal earlier than the
middle of the present month. They claimed
that the disposition on the part Of some
large specula tors to put up prices rapid. y
last week has tended to check the interest
that might have been awakened IL the
Improvement had come about more grad
uaiiy. They believed that the market
should be kept relatively quiet for week
or ten days longer. and that then money
conditions would be such that trading on
larger scale would be warranted.
1t was fntimated that prices might go
somewhat lower today on further pront
taking and short selling. Some active in
tereSts remarked after the close yeSterda y
that ordinarily stocks could be bought with
a reasonable degree of confidence when as
many adverse rumors were affoat as were
heard yesterday afternoon. Il seemed to
be believed by the best-informed interests
that the market would be al owed to go a
little lower, but that it would rebound
excellent I'M
While there was general disappointment
over the failure of Brooklyn Rapid Transit
to advance further on the favorable decis-
ion In the 1O-cent fare case it Is pointed
out that in view of the general tendency
of the market. when the decision was. an
nounced, it could not be expected that the
stock would Immediately reject to any
great extent the character of the decision.
While an attempt was made by some inter-
ests pessimistically inclined to minimize the
Importance Of the decision to the company,
attention was called to the fact by men in
close touch with the company's affairs that
had the decision been adverse to the COM
pany 1t would have meant the loss of many
thousands of dollars. Large numbers of
excess fare checks have been issued by the
company which 1t would have been obliged
to redeem had the decision been otherwise.
OF course. now these checks are worthless.
1t is understood that there has been active
speculation in them by the politicians who
were largely responsible for the action in
which the decision was given yesterday.
X
A broker who has always mad correct in
formation regarding Northern Pacific af-
fairs says that he does not look for an
extra cash dividend to be paid on Northern
Pacific stock out of proceeds from the COM
panys interest in the lease of ore lands to
the United States Steel Corporal ton. He
says, however that the directors still pro-
pose to pay an extra cash dividend of 20
per cent If the state legislature gives a
favorable construction to the law which
now technically makes 1t impossible for one
railroad corporation to sell it's property to
another railroad.
Eastern interests In the Chicago traction
situation expect that the ordinance which
has been agreed upon by representatives of
the city and themselves will be presented
to the council by the transportation com
mite within few days. 1t is also conf
IDENTITY believed that the measure will be
passed by the council and vetoed by the
mayor. According to expectations. the or
dinance will then be passed over the may
ors veto. This will serve the interests of
the traction companies well as If it had