Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-08
BULLS AND Be AIRS
Special Dispatch to The Stal

Special Dispatch to TIE Star
NEW YORK. January $50 far az can
be learned the largest Interests in the stock
market believe that the standard stocks are
entitled to a further recovery and advance
little later on. but they are opposed to
sensational upward movement just now.
They have told some Of their closest friends
that conditions warrant q moderate Inn
provement, but that R speculative interests
attempt to put up prices abruptly the OPP
portunities for a healthy buH market as
soon as monetary conditions right them
selves more generally would be to q large
extent removed.
The heavy profit taking which was In
dulged In during the early trading yester-
day was both favorably regarded and also
taken as an indication OF the probable
character OF the trading II prices are car
ried upward within the next few weeks.
In other words, It Is thought that operators.
both large and small. will be content with
moderate profits and will be nimhle In gath
ering them in. Saturdays bank statement
is receiving very little attention IN the best
informed circles, because It is realized that
only in a very rough way did 1t renect
actual conditions. Those who are in closest
touch with the local monetary situation
believe that while there may be tenn
porary flurries in call money during the
next two or three weeks, 1t will be toward
an average 5 or per cent rate. The shad-
Ing Of quotations for time loans is spoken
of as one of the clearest indications OF
easier conditions in the money market
generally. Foreign houses state that their
private advices indicate that money will
soon be materially easier at the principal
European centers.
-
The sharp advance in BROOKLYN Rapid
Transit yesterday and the heavy volume
Of trading are taken as foreshadowing q
favorable decision in the 10-cent-fare case
and the probability Of a dividend being
declared within the next two or three
months. Persons in close touch with the
heaviest stockholders in this company
claim that on the present movement
as it did on the last pronounced advance.
which was in the neighborhood Of "a.
A man Of prominence, who obviously
was well informed. when asked about a
week ago for his opinion as to the outcome
OF the investigation Of the Hartman lines
by the interstate commerce commission.
which is now in progress. replied that 1t
would probably disclose the large holdings
Of the Union Pacific in other railroad cor
porations. At that time, and even after
the investigation was begun, this man and
his associates were optimistically inclined
regarding the immediate future of Union
Pacific marketwise. Enthusiastically they
knew what was likely to be brought to
light regarding the financial affairs of the
Union Pacific and allied lines. Although
market movement Of these securities
may be somewhat irregular while the
hearing Is in progress, 1t is known that
these interests are very confident with re-
spect to the ultimate market position Of
the stock.
Even on the advance the sentiment with
respect to United States Steel common Is
favorable among professional operators.
One Of the most prominent Of this coterie,
who never hesitates to carry 100000 shares
Of stock or more IL he believes in the
market, said few days ago that he al
ready had q considerable amount or steel
common and that he intended to add to his
holdings materially.
Ansel Oppenheim, vice president OF the
Chicago Great Western, sailed for London
this morning on a business trip. While
abroad he will attend the annual meeting
of the English security holders in Chicago
Great Western.