Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-01
BULLS AND BEARS



NEW YORK. March 1T was the belief
in Wall street today. unless some new factor
develops calculated to disturb the confidence
of the speculative element, the stock market
will continue to improve moderately for a
time. No one. however, is willing to predict
more than fair recovery on the basis of
the big decline and the oversold condition of
the market and stock exchange houses are
not advising their clients to buy stocks ex-
cept for a turn of a few points. If the mar
ket does recover several points further on
the average 1t is believed that 1t will be at
tackled by the bear contingent and will lose
a part of the gain. From that level 1t is
predicted that there will be fair trading
market for some weeks.
+
An attempt was made by of the
morning newspapers to convey the impress
sion that for some important reason yes
terday's hearing of the interstate commerce
commission was abruptly brought to a
close. There is no ground whatsoever for
this theory fnasmuch as the counsel for the
commission had in mind at the outset yes
terday morning to ask for an adjournment
not later than midday. 1t Is learned that
the character Of the testimony presented in
the two hours session yesterday had no
bearing upon the time of adjournment.
Il i
According to the statement Of a high au-
thority In Rock Island affairs. there is no
intention on the part of the Rock Island
mana cement of bringing legal action
against Mr.. Hartman and his associates
in the reorganization and management Of
the Chicago and Alton for a restoration Of
funds alleged to have been used for Inn
proper purposes legal authority who
hoe int "a fIlIv
Furthermore, that there can be no question
as to the legality of the Chicago and Alton
bonds which were under discussion through
out the investigation of the Chicago and
Alton situation. Competent railroad men
believe, however. that without question the
disclosures made this week regarding the
management of the Hartman lines will re-
suit in legislation at the instance OF the
federal government not only against the
roads making up that system, but the rail-
roads of the United States as q whole.
lines of far greater Importance than any
legal action that may be begun by minority
interests in any one of the Hartman roads
for restoration of funds alleged to have
been Incorporated
i
President Maben of the Sloss- Sheffield
Steel and Iron Company Is here on a brief
trip from Birmingham. It is understood
that nothing of Importance regarding the
Affairs of the Sloss- Sheffield company win
develop during Mr.. Maben's stay in town.
as his visit has to do almost entirely with
personal matters. Mr.. Maben states that
his company has sold its output for three
quarters of the present year, and has also
placed considerable iron for the fourth
quarter. Most Of the contracts for the
third quarter were made at $40 a ton. All
of the iron sold for the final quarter was
at that figure. He says that there will be
no difficulty In contracting for the COM
pc iy's entire output for the final quarter
Of the year at about SO.
The annual meeting of the stockholders of
the Sloss-Shefield company will be held
about the middle of this month It Is un-
derstood that, considering the adverse con-
ated during considerable part of the year.
the exhibit will be very favorable.
There q sttil q great shortage Of cars ON