Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-08
BULLS AND BEARS
Special Dispatch to The Star.


NEW YORK, April SIN view Of the
substantial advance the stock market has
i had from the low levels Of last month and
| the uncertainty as to the crops for the
coming season, 1t is believed that operators
| will be inclined to take profits on all ad-
vances and on favorable news announce
ments. such. for instance. as the bank state
| ment of last Saturday. Not few OBJ
servers believe that while the market may
go higher during the next two or three
weeks, the tendency a little later on will
be toward lower levels 1t may be taken
as a fact that operators who made large
profits on the short side up to two weeks
ago are confident that during the summer
prices will go we'll back toward the low
figures Of last month in anticipation OF q
general slowing down in business late this
year. or early next year. Accordingly these
interests in the market are obstinately
fighting the advance and are disposed on
the short side. Consequently the most con-
sentative observers believe that the market
for some little time will be, to q large ex-
tent. professional and rather irregular. but
they do not anticipate slump such as
| took place in March.
-
As far as can be learned railroad Of
f1ctals are still undecided to a large extent
as to the probable outcome of the present
| labor and rate agitations. 1t is confidently
expected that the agitation for higher
wages will be continued, and it is under
stood that 1t is likely to be renewed on
| the eastern lines within a short time. Some
prominent railroad officials are unwilling
to express an opinion as to the extent
which the railroads will be able to increase
freight rates. They regard the entire stu
alton as to labor and rates as being SO I'M
settled that they are unwilling still to en-
bark on any important new extensions, al
though the outlook for the raising of fresh
capital is much brighter than it was a few
weeks ago.
Although the Chicago Great Western was
able to sell the remaining amounts of de-
benture stock in its treasury on favorable
terms abroad. 1t Is understood that the
management proposes to proceed very slow
ly In the expenditure Of the proceeds.
The stock was sold principally for the
purpose of raising funds to double track
the eastern division of the system. A rep
resentative of the company says. however,
that the management does not intend to do
much along that line until 1t Is possible to
get better idea of the entire railroad and
financial situation.
Erie railroad. in commenting upon the ef-
forts made In a published statement last
Saturday to convey the impression that the
company paid II per cent for the $500 900
notes recently Sold said that apparently
some one was being used to assist q few
struggling bear operators to cover their
contracts. or else an effort was being made
to compel the bankers to make public the
commission which they received for finan-
cling the loan. He added that long before
the Erie railroad would pay II per cent for
money It would adopt drastic measures
along other lines. Referring to the recent
direction of the management to cut off
work in New York. which had been decided
upon and some of which had been started,
he said that this largely represented the
construction of branch lines which were not
absolutely necessary. He calls attention
further to the fact that the main lines of
the Erie system are in good shape and that
they will be able to handle the business Of
fered satisfactorily with present facilities.