Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-25
Prices Were More or Less
Downward Today.
THE ACCUMULATED ORDERS
Further Pressure From the Specula-
tive Contingent.
THE TALK ABOUT LIQUIDATION
Pressure Of Long Stocks Recently De-
clared to Have Been for Specula-
tion-Reading Down.
THE ACCUMULATED ORDERS
THE TALK ABOUT LIQUIDATION
Special Dispatch to The Star.

Special Dispatch to The star.
NEW YORK, January 25.-Wau street
was inclined thissmorn:ng to look for some
thing of a recovery In socks today, but
the course of the market for the greater
part OF the session was more or less stead
lily downward. The Selling side was re-
cruited by an accumulation OF orders from
the west, which represented the liquidation
OF commitments impaired by the declines
that have taken place during the more or
less complete suspension of wire service TO
western points for the first three days OF
the week. This service was practically COM
pletey restored today, with the result that
out-of-town traders. either because they
did not like the state of their accounts or
the course of the market, sent In a guam
tity of generally imperative orders to sell.
There was further pressure also from the
same speculative contingent which dumped
stocks overheard yesterday afternoon
chiefly through the house that commonly
stands as the representative of the stock
gambling contingent whose operations on
the long side more of a menace to the
market than when 1t espouses the bear
cause. In the literature which the concern
referred to sent out last night opinions
very averse to buying stocks until prices
were at a lower level were openly ex-
pressed.
There was good deal of talk too. about
the alleged liquidation of long line or
stocks. especially Reading, for the account
of capitalist prominently identified with
the coal and iron industry, but the pres
sure of long stocks for sale both yesterday
and today seemed, and was declared by
weli-informed interests. to be of highly
speculative rather than substantial origin.
Stories to Inspire Distrust.
A good many stories of nature calcu-
lated to inspire distrust in the long side of
the market were circulated during the ses
sion, but 1t is more than doubtful If they
were not all invented by or In the interests
or the element which treats the stock mar
ket nothing more nor less than open
gambling game and has at this time not
only closed out It's accounts on the bull side,
but has probably gone short as well.
At all events the house-to-house borrow
ing OF stocks. well the transactions in
the open loan crowd, indicates now that
very good short interest is making
There was nothing particularly note
worthy in the course of most Individual is
sues during the bulk of the session. The
low-priced stocks offered the best resistance
to pressure, but the Pennsylvania group
acted well, as did the United States Steel
character. Brooklyn Rapid Transit was
stri1ngly strong, and the new point was
made that the Brooklyn Rapid Transit
Company was well represented in the new
merger corporation just formed to take
over the PETERBOROUGH and Metropolitan
systems.
Formal Denials of Rumors.
OF other news relating to socks there
was nothing of any considerable impor-
aance except perhaps formal denials of
rumors of deals for control of the Allis-
Chalmers company. The Missouri Pacific
made a statement of earnings for Decem-
Der which was distinctly bad in compari-
son with the current reports of other rail-
roads. and from semi-official sources 1t
was learned that the earnings of the Rock
Island company were showing q distinct
Improvement.
further Indications of the gold export po-
sition in which this city is placed.
Money was easy enough, both call and
time. The bulk of the call loan borrowing
was done at per cent.