Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-13
BULLS AND Be AIRS
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK January LIT was learned
this morning that representatives of the
interests who We're responsible for the ac-
tive bull campaign in the Hartman issues
last summer take much the same position
with respect to the market now that they
did before that campaign started. Then
they We're optimistic. when practically the
entire street was decidedly pessimistic
Subsequent events showed that their op-
timism was founded on advance informa-
ton regarding the large dividend declared
by the Union Pacific and Southern Pacific
directors. When the street as whole
maintained that, in view of inevitable
higher rates for money and the approach
Ing fall election. there was little or no
possibility of a successful campaign for
higher prices until after the turn of the
year. these interests maintained with equal
confidence that the pessimism SO general
should be dsregarded and that the stand
ard stocks, notably the Hartman issues.
should be bought.
Now these same men who expressed opin-
ions of that character last summer assert
that they are not at all apprehensive over
the forthcoming sessions of the Interstate
commerce commission in its investigation
OF the Hartman properties. They do not
believe, either. that the Pennsylvania an
nouncement should be regarded as an ad-
verse factor. at least not to the extent
that 1t was SO regarded yesterday Fur
thermore. they believe that on this break
Pennsylvania stock should be bought AS
to the market, as a whole, they are not
disposed to give definite advice at the mo-
ment to the average operator but they be-
lieve that after the present feeling of I'M
easiness subsidies there will be a general
recovery in prices. and when that recov-
cry sets in they intimate that in all prob
ability 1t will be found that the large in
side interests have a very considerable pro-
nf hn foo fi,ar
Other interests in a position to get good
information as to the men who to
great extent control the money market,
and the stock market as well. still believe
that within the next few weeks consid-
erably higher range of prices will be reach
ed. They intimate that this campaign will
take place prior to the approximate date
on which demands for funds from the in
terror will be noted in connection with the
putting in of the spring crops. About April
l these interests look for a recurrence of
high-money rates. They intimated, how
ever, that during the intervening weeks
ample opportunity will be offered for a
substantial campaign for higher prices.
4 4
In connection with the rumors which
were generally circulated yesterday that
the Canadian Pacific. will soon announce ,
an issue of from S25.OO0,OO0 to $50,O0o,O 900
of new stock. a weil-informed banker in
this city says that he has understood .or
some time that during the present month |
such an announcement would be made. He i
adds that the company has now in prog |
ress approximately $26.0D0OOO of new
work. He is inclined to believe that the |
amount of stock to be offered to the share |
holders in the near future will be the |
larger of the two amounts previously men,
toned.
w. w. Gurley. general counsel for the |
Chicago Union Traction Company, who is
in town, says that the new ordinance was |
submitted to the Chicago council by the |
commission day before yes
terday. 1t is now being considered by that |
body, section by section. He says that the |
date on which the vote will be taken is |
entirely conjectural. The controlling in
terests in Chicago Union Traction Com
pany are entirely confident that the meas
ure will be passed in due time without |
SDecfa1 0nnoSifipn