Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-19
BULLS AND Be AIRS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 19.-While II is ad-
mitted that there was more liquidation in
yesterdays stock market than on any pre-
yious day in the recent decline a member
OF one Of the largest and most active stock
exchange houses in Wall street said this
morning that, in his opinion, there was
more Short selling yesterday than was gen.
orally realized. During the last fifteen
minutes OF trading. when it was pretty
generally stated that most of the transac-
lions in the active issues represented
urgent liquidation, he indicated that con-
siderable proportion of the transactions was
for the bear party He further said that at
few minutes before the close three men
were sent into the crowd, each with SELL
ing order OF 5000 shares of st. Paul He
was or the opinion that no one experienced
in stock exchange tactics would set this
down as liquidation on long stock.
A careful canvass Of the situation after
the close of business yesterday failed to
disclose any tangible reason for yesterdays
big break. Bankers expressed the opinion
that the decline would not go very much
further, for the present at least. No one
seemed to believe that the street is on the
eve of even a moderate SiZed panic. A
representative of a large commission house
expressed the opinion about midday that if
the market experienced a further sharp
break before the close of business the
atmosphere would be materially cleared
and that the market would be in position
to recover pretty rapidly. This morning it
seems to be believed that the situation was
very well cleared up yesterday. 1t is
known that there has been a considerable
number of stale accounts on which pretty
heavy losses have been encountered. So
f,r ha lnar of
counts have been liquidated. and it Is
thought that the stocks now held specula-
lively are in at least reasonably strong
hands.
Active interests. in discussing the market
this morning. have given SPECIAL prominence
to the fact that many of the standard issues
which have been carried to pretty high
prices are now selling on a basis that yields
a very handsome return For instance, it is
thought that there will be good investment
buying of st. Paul. which has almost
reached 5 per cent basis. The opinion is
also expressed by bankers with prominent
European connections that although for
eign Investors and Spectators are inclined
to look with some distrust upon our cor
porations and securities. ii the latter decline
much further they will be tempted to buy,
because of the big dividend returns.
X
Action is about due on the Twin City
Rapid Transit common stock dividend
There is good reason for believing that the
rate will not be increased at this time Ex-
cept for agitation on the part of the state
and municipal authorities for lower fares
undoubtedly the stock would have been put
upon 6 per cent basis at thi- period.
President Winchell of the Rock Island
says that the facilities of this company are
being taxed as heavily as they have been
at any time during recent months. With a
little smaller volume of traffic, he adds,
larger net revenues could be made.