The daily morning journal and courier., 1906-02-19
STOCK MARKET FEATURES
CONSIDERABLY LIQUIDATION
 BY TIRED HOLDERS.
Bears Triumphant and Talk of Lower Depths--Bulls Charlottesville Money nuestion--StocIx Market Opinions.


 nuestion-StocIx Market Opinions.
 The stock market had quite slump again Saturday with sales in two short hours amounting to almost one million shares.
 The bears are saucy and say it is time for them to have their innlngs;' that the bulls have had it all their own way long enough
 The bulls claim that all is not lost, and that the bears will be forced to cover. Some brokers still advice buying on the slumps and selling on the ral- lies.
 Wall street is disposed to be a little pessimistic.
 There has been steady liquidation for some days and stocks are down from 2 to 4 to 10 points from the recent high levels.
 It has been a sort of 'tired" selling. It is said, however that there is, in fact, good authority for the statement that so-called "insiders" are long of large amounts of Union Pacific between 152 and 1855, of United States Steel com- mon between 42 and A, Shelters be- tween 16O and 165, and Amalgamated Copper above 110. These stocks are simply cited to show the investment attitude of those who really control the market situation.
 One important factor causes discus- sion and some alarm is the big issues of new capital Since the first of Jan uary there has been authorized new capital to the amount of nearly S5OO,- 000,00O. This is nearly half the whole amount of 1905. The past week alone has witnessed perfect flood of new se- curities on the market. Not only have the railroads in the densely populated sections of the east, where improve 1nents have been prodigious, asked for new funds, but western and southern lines have been making application to bankers for new money for improve ments and extensions.
 There is some easiness shown over the prospect of late spring planting of wheat and corn and other staples. The delay in starting these cereals is im- portant to consider on account of it's postponing maturity to a season when sudden and extreme climatic changes are likely, involving incaIculable dam age to growing plants.
 This Is what is causing speculation to halt and look around.
 Tight money at this time of the year is anomalous This is the season when 1t should be easy.
 With money tight all over the world and no immediately relief in sight the stock market can be hardly expected to boom.
 Leonard D. White, of White & Black well, says: Unless general conditions change decidedly for the worse it does not seem likely that there will be a se- were decline; probably dull market. Then if there is no coal strike and the crops are good resumption of the bull market and higher prices than ever be- fore the end of the year.
 R. M. Stuart Wortley, of Edward Sweet & Co.,. The paramount adverse factor and the one which is quite suffi- cient in itself is the exceptionally un- favorable condition of the present money market,
 Charles A. Morse, of Charles A. Morse & Co.,. The big deals are not over. Selling is often carried to as great an extreme as is buying, and the market seems to be getting into shape for sharp upturns when favoring news becomes public"
 Charles H. Dewitt, of Charles H. De- Witt & Co.,: Tt looks as If dull and generally sagging market Is about the best that can be expected until money market conditions are simplifed and something definite is known about the winter wheat crop"