Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-04
BULLS AND Be AIRS

Special Dispatch to The Star.
NEW YORK, January 4-Although some
stock market interests are talking pes
simistically with respect to the market for
the next two weeks or more, persons who
are in close touch with the largest finan-
cial interests of the street seem to be con-
fident that at the end of that period or
sooner the trading will be on a larger
scale, and the prices generally ON higher
level They believe that the way is being
paved for very good market the latter
half of this month and next month. Not
withstanding opinions to the contrary fire.
quently expressed. they assert that none
tary conditions are steadily improving. and
that within a reasonable time they VIII re-
peat themselves without assistance from
Washington or from Europe In the shape
Of importations of gold. They also point
out that the extreme pessimism which pre-
walls In many circles will materially help
the position Of the market, as 1t will check
any unwarranted operations on the bull
side, and increase the operations for the
short account.
+
J. c. Stubs and other western repre-
sentatives of the Hartman lines are In
town for the investigation which was be-
gun by the interstate commerce commission
today. Apparently those most directly In
terested do not expect any sensational de-
velopments in connection with the investi-
cation. They believe that while 1t may adj
versely affect the securities involved tenn
porarily it will prove beneficial to all In
terests, as it will establish the strong posi-
ton Of the various properties which COM
prise the system.
X
It is assumed that there will be some
selling Of United States Rubber common on
the announcement that the resumption of
dividends on that stock will be further
postponed. There is good reason for be-
lieving that on any decline of Importance
there will be substantial buying Of these
securities by inside interests who are ia
miliar with the company's position. the
large earnings that are being made and the
expectation that three months hence the
payment of the dividend will be seriously
considered, If not actually ordered, by the
board. The statement of earnings made
public yesterday did not specify the net re-
turns for the December quarter. 1t is
understood. however, that they were about
that the business in all the departments of
various companies is very satisfactory.
The failure of the Wabash directors to
order the payment of any interest on the
"B bonds at this time is subject Of con-
siderable discussion in Wall street as a
| matter Of policy. There is good reason for
believing that the holders of this security
who have not deposited their bonds under
the refundinS plan will cause the manage
ment no little trouble If no distribution is
ordered in the near future on the approx
| mately 100000 Of the unassenting "B's.'
These interests argue that if the company
Is able to pay the per cent due on Janu-
airy on the new As 1t Is able to pay the
pro rata amount at least on the unassent-
ing "B's." If the present policy Is con-
tinued holders of Wabash securities gen.
orally are apprehensive of litigation that
will block the entire financial plan and
keep the company from raising the funds
greatly needed for improvements.