The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1907-02-22
MARKET SHOWS Loss
Traders Quiet Oh Eve of
Three Days Holiday.
BRISK BUYING NOT EVIDENCED
transactions Indicate That Liquida-
zion in Small Way Is Being Com
tinued-strect Believes AIdrieh FL
nancinI Bill VIII BE Passed ny SEN
ate and House Before Adjournment.

New York. Feb. I.-The course CT the
stock market to-day was. perhaps, what
might have been expected under prevail
ing circumstances. On the eve of a three
days holiday. such as is now about to be
had, spectators do not care TO enlarge
their ventures on account, and, on the
other hand, generally prefer TO close out
portion at least of their commitments.
Closing quotations showed irregular net
advances and declines. with recessions pre-
dominating. AT the opening of business
the market was a little stronger than 1t
was yesterday, then declined. again raj
lied and left of weak under a renewal Of
the selling movement led by an onslaught
upon the Reading common shares which
closed for the day 1t a net decline Of
nearly two points There were critics who
professcd TO regard the course of the
days market as being more or less unsat-
isfactory in that, according to certain
technical points Of view, greater resiieney
in values should have been shown than
was actually witnessed
Buying should he Brisk.
According 10 their contentious, as prices
have declined rather steadily throughout
the week. and as large short interest IN
the market has been created, to-day, pre-
ceding "a Ions suspension of stock eX-
change business. should have been time
for "a rather brisk buying in ofNspecula-
tive contracts for the fall 1t was ad-
mitted that covering" purchases of this
.rFT fr,r
quent. out no financial powers seemed dis |
posed to make an attack upon the short
interest. and those who decided to buy in
stocks against sales previously made did
not seem T. have any great difficulty in
doing so. II appeared 10 be the case, in
other words. that dribbliag liquidation in
the market was still going on.
Ii is probable that the weakness in the /
market in the closing half hour of bust
ness was to be particularly attributed to
cabled reports from London Of stories !
current there that the Car of Russia had
been assassinated. but these tales We're
entirely Uncgnhrmed up 20 the close of
business, and were generally believed TO
have been started for speculative pur-
poses.
Two counteracting forces regarding the
One of these was the strong hope that
before next Monday the Aldrich financial
bin would pass the United States Senate. /
if not also the House of Representatives,
and the other. the fear OF the results
Of the investigation into the Hartman
railroad management that viii be begun
i'm the city on Monday morning. II was
apparent this morning that the Aldrich
BIN would meet with some opposition 70
,nf
Congress. bat the belief was entertained, I
nevertheless. that this opposition would
not prove 20 be II a broad and determined
character.
The chief danger affecting the bill is, OF
course that even L. no strong fight
against il is made, any general debate
started over it may so delay its passage
I'm the remaining few days of the Con-
Srrssiouul session as 10 cause the biz 10
fail &c enactment It is understood. how
ever. that IL is the sentiment OF the Re
publican party leaders in both Houses of
Congress that the bill should become a
law before March T. and an reasonable
changes, therefore. seem to favor the
probability that the bill viii soon be
placed upau the statute books
Kin believed Pessfmissic.
Ssuuman, was again adversely affected
to-day by consideration. particularly, of
the -essimistic remarks made by James
j. Hin in an interview published here yes /
lerday afternoon. although il was remem- !
bered that Mr. Hill is often in The habit
Of Saying tliugs that have To be under
stood u peculiar fashion There is
very utJla doubt however. that those In
charge 81 the railway interests of the
country are impressed al the present time
rs they have not been before since the
days of the auti-Tailroad agitation i'm the
decade of 1870 To 1856. with the harm that
the railways are suffering and must still
suffer from rasl and unjust legislation
directed against them.
The weakness of the Hin stocks, and
especially of the Great Northern ore Ger /
tifCatcs was to-day considered as being
consequent upon Mr. Hills utterances. /
Very little attention was paid To the ind- /
cations for Saturdays statement, posi- /
bly, from the fact THAI there will be no
session Of the stock exchange on the last
day of the week. The prognosis OF the
bank return was, however more or less
uulavOrable. as il Indicated Il loss by the
banks of from S1.2)JO)0 TO $2,O0),GoG, while
the chances were held to be that the
bank loan account would be enlarged
owing 20 transactions relating 10 the rail
way short-tcrm note issues.
The Bank of Englands proportion of
reserve WIS reported to-day as having
fallen 10 IS per cent as against 1923 per
cent last week, but the reserve compares
with a percentage of 49, per cent on the /
same date last year. In banking circles I
here more or less unfavorable comment I
was made concerning the fact that the
return movement of currency from, fine /
interior Of the country was not as great /
as had been looked for. This, it was said. /
Is undoubtedly due to the extreme activ- /
lty that still continues throughout the /
Western section.