Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-25
BULLS AND BEARS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 25.-It is needless
to say that from a speculative point Of view
the investigation of the Hartman lines.
which was resumed in this city today. is
the chief factor in the situation. It is un-
derstood that New York speculators sent
over fair amount Of selling orders to be
executed in the London market this morn
ing. It is believed that an attempt win be
made to break the market here today. and
naturally Union Pacific will be the chief
target. Whatever may be the outcome q
the investigation, it Is wn that the large
inside interests in both the Union Pacinc
and Southern Pacific are entirely confident
with respect to the future Of the properties
and with respect to the securities. They
realize fully the great Gaming power OF
win be able to control them, whatever may
be the ruling Of the interstate commerce.
commission as to the present method OF
control. the same rs James J. Hin ana MS
associates have controlled the Great North
ern, Northern Pacific and Burlington since
the dissolution Of the Northern SECURITIES
Company.
-
In conservative railroad and banking
ci. ,les there seems to be disposition TO
minimize, rather than magnify, the I'M
portancc Of the Hartman Investigation as
a market factor. 1t has been taken lor
granted for some days that the Interstate
commerce commission at its hearings this
week would give special attention to the re-
organization and management by the dar-
riman interests of the Chicago and Alton.
Apparently the witnesses who have oeen
subpoenaed will be questioned chiefly as TO
alleged violations of the moral law. rather
than the Sherman antitrust law or any
other statute affecting tre acquisition anu
management of railroad properties. ~ IS
intimated by prominent railroad omclais
that the finances of the Union Pacific ana
Southern Pacific will be gone into again az
this weeks hearings, but 1t Is pointeo ou.
that that ground was pretty thorousniy
covered at an earlier hearing In this CITY
when minor officials of those two companies
were before the commission. 1t mas Deeh
predicted that the commission woulo occupy
the entire week and perhaps longer. put
there is high authority for the statement
that unless matters develop OF wnlch the
commission has no information at the pres
ent time, the hearing will not occupy more
than two or three days. SO far =. W. III
lard Is the only representative or the ROCK
Island interests who has been subpoenaed
in connection with the proposeu investtga.
ton of the Alton. He IS the controiler OF
that property under the ROCK lslana man nan
agement. So far as has been learned, QUO
H. Kahn Is the principal banker VINO mas
been summoned as a witness for the forth
coming hearing. OF course, d. H. Hartman
VIII. be the star witness and, as matter
of fact, the commission adjourned When
1t was here last simply because MT.
Hartman was unable to appear.
A prominent stock exchange operator who
has spent several days in Washington seems
to be confident that the Aldrich bill will be
passed, but he apparently believes that 1t
will be rushed through during the last days
and perhaps hours of the session. as many
important measures are often handled by
Congress.
No one seems disposed to express
very positive opinions regarding the course
of the market this week. AS already stated.
it Is expected that it will be under pres
sure. while the interstate commerce inves-
tigation is on and prhaps until the fate Of
the Aldrich bill Is known. In the mean
time 1t may be taken as a fact that the
large inside interests will not make any at
tempt at a demonstration on the bull side
but If spectators are disposed to sell the
market there Is good reason for believing
that the largest interests will be perfectly
willing to take the stocks offered at present