The Washington herald., 1907-02-03
MARKET LEVEL Low
Decline in Prices Greater
Than Is Supposed.
RAILROADS SHOW NET LOSSES
Possible Legislation, 1t Is Fiinted,
Has Something TO DO with Break
in stock Priees-Not since 1904
Have Prices Been So Depressed.
L. :. steel Holding It's own.

Have Prices Been So Depressed.
L. :. steel Holding It's own.
New York. Feb. 2-The decline in the
stock market yesterday was rather
greater than was generally supposed, the
fall carrying prices of the standard
shares down nearly two full points be
low the previous low record of the year,
and below even the low level touched in
1906 during the heavy liquidation OF
speculative holdings following the earth
quake in San Francisco. Indeed, on GER
tain bases of calculation. these taking
account of fluctuations in a large number
of stocks. prices Of securities at the close
OF business yesterday were down to a
range beyond which they had not been
depressed since the year 1904
At the opening of business to-day, pres
sure upon the market was once more
vigorously applied; but from this time on
prices slowly recovered. closing as a rule
very little changed from yesterday aft
ternOon's final figures. Right at the
very end of the stock exchange session
prices again weakened a little under the
lead of decline in the St Paul common
S'''iS ne ees-'' D''i-A s'l',.'ii'i-' p" as
ecessoTs in recent weeks il showed a
- ~, -. - - -,
m - -. - l-o, ~,
g. - - ., -.
-
III l.ie ma ''i ol CASH re-
sources undoubtedly repairing 10 some
extent the under statement of them made
in the bank exhibit a week ago. Surplus
reserves decreased p g2S 01a bringing I'm.
total e,,,.-I,,. dom, -, go -a..fao ~ II.
II. 49, tf,s,, ~ -. -. e.. -.
-
'''o'. '''' ISL li'o s9i'ul d 'Viiul'-o'l
VI 'He OdHAs as IL is reported from week
10 week IS Il seems, following the usual
precedents set for this season of the
year
Mon V,,.,,,- ,,,-,..-s,
TIC towering OF money rates tnat
almost invariably sets IN IN the early part
OF the year causes a transfer to the bank
of loans previously assumed bv prfvate
lenders. foreign and t,y,-,, Il,,ls-s
and nv tho 7-,,s+ o,,r,,-,.,,,te.- -
,,,iI,f,s, e.. -, - -
' '''-'i ''," 'i-e price %
lioHey was hlsh WIN a TAN IN the price
anu S'''A N''l''i'se aceui'iu-
'''' '''' vans maui ii t"e Hll'Iitldi
'O-'iiii uIli'S 'eHu once more 10 exhibit
themselves ruby IN the clearing house re-
turn The loans themselves, of course.
are no greater than they were and that
the strain on capital is much less than it
was previously Is proved bv the Iessened
anxiety of borrowers TO obtain rpo7ev
That any attention at all today Vas
paid in the financial district 10 the non
sensicaI Japsnese war talk in some Of tb.
morning naDerS must only ha oceaDta,t as
an evidence of the more or less disbesrt-
eDed snecularive sentiment .bot ,,,,,,. az
douhtedIv nravails F-,ar g, % q. -.
much to he doubted if he r,.,tt,,- -
TO could at all be considered ,s eor,o'
thing that i'm ann, nv in, ,1,,..-..,z -. .
ket The only devsI0rr7a7,te, ,,r ,a-1 -.
aside from the bank statement vvare rr,
further reports of railway e.rDfyes ror
the month of December Irricb &c =, ~
case of many others thar ~ -.
come to hand bear witness ~ n +avg7o--,.
Of railway ref earnings -, ,1s,.-os.. ~
ing December as was ro-rI,,- scr ear-t
the Pen7s,-l,-a7fa p.iI-o.,,5 ~,l,,,,-' "a,
earnings for i+s ,ir,- 80 90 80. -
increased Il az s6a a., e,s ~, 800 81, - s.
net '''
amin SHOWS Vet decrease.
,,,. 20 tle eH-lSy VAfla lines west Of
arcor,I,arisd Mn ~ 80 1 as 800 81, w.
gn T-rc, a.. -, Vi en-
TO-. -r,.ro ~ ~, - " " tIO'V' 'Ie-
81 IA Ear a,,4 90 - - 49, al s-OsS y.
vs. f.-l-l,- ,5-,t++-5 - Al ~ II
,ar..r.5 e.. lI-.-. ny a
svlvaDia-s o,er5tir7r- - ,. ~
arising from, H., i,,,5,.a-. a. ~ g.
e-lnIoy-es -taf ,,.s,,+ -, ..se-.+ - 70
b.r1 For a.. go, -. vi lI
I,ie.e e,rns 5l iiNe Sc lhe
S1l5 OK nil, +t, - Gnu - ne
.rrs- f-,-c--,, e, - --i-l Oi..0
C,7..-s.5 80 a. - 49, '.liu us Ie1 ut
,-as a,,rr-,,,,...7 - - -
so,-.e rogg eC, T1l,,r-. % p 'l,1 1'1i'i
Sos4 80 r, NJ ,-,-,f- = - 80
Vs. b.,- z, AZ - ~ l-',''5
,.,,,rts f 49,, -, nv ill.'''
49,, I,go-i s,-s,, s-l'e gu
,-.t 49,. ,.I,.-i- ~ . 80 - "a So'',o
+.raojrs. t,,,t a. go .'i1
fo~,e So a. ,e - &c 80 O1lle'
,ri-ior,. g-,7 -,,,,- y 80 LII
i,,-. l..t -, 49, ' ~ Ia 5e S'-i u
,..,7,i,- 60, Is. 80 - lo"1 q ''ii" a
-i,l,-. 60 - -i'-e,
1fei,s-. 800 -,
ana rra 5,-,ra7 - - - - 49,
al tt~t- tlLAl 49 p1i DIdocu b9 tl-e IdltOauS-