Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-24
BULLS AND BEARS


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NEW YORK. November 23.-while It
was not expected that today's brief mar
ket would display great activity. 1t was
thought that the tone would be Arm and
that the character Of the transactions
would reflect to some extent the improve
naent brought about in financial matters
both locally and In the country at large
during the last two days. Conservative
hnanciers are confident that the offering
Of the new government issues will not
only be q success. but that . benefit to
the money market will be substantial
Those who have had an active part In
Strengthening out the financial tangles are
also confident that within ten days or two
weeks. and perhaps sooner. the whole
financial situation will experience 4 ma
terisl change for the better.
49,
Great satisfaction was expressed over
the absence yesterday Of unpleasant ru-
mors that had been in circulation for
some days. Some observers are disposed
to believe that with the improving con-
ditions in the financial situation and the
covering Of short contracts the market is
likely to have q substantial rally In the
near future.
-
Much has been said In recent months
regarding the damage to the cotton crop
In Texas by the wet and cold weather
early In the season and correspondingly
dry weather during the late summer and
early autumn. A western railroad Official
who has recently Travelled through the
state OF Texas says that the best esti-
otao ~ Ia 4fvHf 10 ~
$4,000 bales, against 100000 bales for
Texas last year. In other words, he says
the crop this year Is about go per cent
of last years yield.
Recently reports have reached this city
that the Colorado Fuel, Coal and Iron
rAS.--. ~ was operating on a greatly re-
duced scale. : prominent railroad off,
cial who recently vis,.~. Pueblo says that
the plants of the company dev..cca TO the
manufacture OF wire and wire proauSts
have enough orders on hand to keep them
running practically full for some time,
ana that In spite Of the general retrench-
ment policy Of the railroads the Colo
RADIO Fuel rail plants are turning out a
large amount Of product.
= - .
A banker whose judgment Is very highly
regarded says that, regardless Of the large
number OF unfavorable rumo-s which are
daily put In circulation by professional
operators on the short side Of the mar
ket,, 1t should be borne steadfastly in mind
that underlying conditions are improving
day by day. While there has been more
or less confusion over the proposed new
issue Of federal securities, he says that q
syndicate headed by a very prominent
banker IN this city is now in actual op-
Grafton and that the results will be felt
very soon. He would not be surprised to
see things In the financial world look
somewhat irregular until the two new
government issues are fully taken care Of
but he is confident that during the first
week In December the people generally
VIII realize that much more improvement
has been actually brought about than
they realized was In progress.
+
p The feeling of bankers generally who
have been so active in helping to main
tain confidence in financial affairs is very
strong toward professional operators who
within the last two or three weeks have
daily circulated large number of base
less rumo-s. with respect to the financial
conditton Of firms. corporations and In
d1v1duals. While the Developments of the
last few weeks may have seemed to az
ford some ground for the rumors circu-
lated regarding Industrial corporations. 1t
is pointed out that the embarrassment
which has come to corporations of. this
Grass In nearly every instance has been
que TO the extreme tension in the financial
situation and not to lack of business or
valuable assets. It is believed that as
soon as financial matters clear up 1t will
be possible for most of these corporations
TO resume business in the usual way.