Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-05-06
BULLS AND BEARS


special Dispatch to The Star.
NEW YORK. May 6.-No special change
In the character OF the trading in the
stock market is looked for by most ob-
servers In the immediate future Unless
the crop advices are extremely unfavorable.
1t Is not thought that che market will ex-
perience severe decline. but moderate
reactions are looked for at somewhat fire.
auent intervals. Not a few interests think
that the large operators will be quite eau
tious with respect 10 the making OF large
commitments as long as factors OF so great
uncertainty In the general situation exist.
II Is very generally conceded in banking
circles that the money market will not be
a disturbing factor for some months at
least. unless the railroads and large indus.
trial corporations decide to make a change
In the policy adopted several months ago
regarding new works. and come into tho
money market for q considerable amount
OF fresh capital. Those who are In closest
touch with the situation thought that the
large railroad interests will be inclined to
until they are in a position to have definite
Information regarding this years crops
Railroad experts and others best able to
give an intelligent opinion regarding the
matter seem to be practically unanimous
in the belief that the more the idea Of
having valuation placed upon the rail-
roads Is looked into the more practical Il
will be found to be. They are equally
unanimous in the belief that the actual
value. as nearly as It can be determined.
OF the large railroad systems will be found
TO be greatly In excess Of the present capt.
talization. One railroad expert expressed
the opinion this morning that the value
which John F. Stevens will place upon tho
New Haven property viii be four times its
present capitalization.
-
Much Of dispara ging character has been
said and published regarding the Erie rail-.
road within the last few months 1t may
not be generally known. but II is true, that
Its water front holdings on both the Jersey
and Manhattan coasts Of the North river
are equivalent to over q mile in actual
length. well-informed railroad man. In
referring to this fact this morning, said
II an actual cash value could be placed
upon this terminal property II would 20 q
long way toward covering the entire share
capitalization Of the Erie railroad.
well-known western railroad official
who has just returned from the northwest
says that It is altogether too early to
talk about crops in that section. because
as yet there are none in sight. In some
parts OF the northwest. he says, the seed
ing has been completed. but in others II
has not. He thinks that as much money
could be made in the end. both by the
farmers and the railroads. IL this years
crops were 25 per cent below that of last
year. .-"# tf
In his opinion the changes which have
been made by some of the states In both
passenger and freight rates and the gen.
eral clamor for lower rates Is the most
serious question with which the railroads
have to contend at the present time. He
made the statement this morning that IL
the states from Minnesota west to the coast
should order the reduction In both pas
senger and freight rates which have been
ordered by Minnesota It would be i'm
possible for the roads running through to
the coast to continue the present rates of
dividends. He thinks, however. that In
due time the present agitation will die down
and that an equitable basis will be arrived
at for both the railroads and the shippers.