The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-02-11
Weeks Recovery Of Prices Dis
sipatcs in a Measure
1'cssimisln.
BIG INTEREST NURSING STOCK
Believes That Future Will Bring
Far Better Prices-Waiting
on Hartman.
Weeks Recovery Of Prices Dis
zig INTEREST NURSING STOCK
BY LOUIS GUENTHEN,
Editor OF Financial World.


NEW YORK. February 10. = Wall
Street has assumed duietcr aspect
after the storm that has broken all
prices for weeks. A more hopeful view
begins to take place. hut only In regard
to further liquidation--tliat is, that prices
have for the time being struck bottom
and no further large blocks will be thrown
on tho market by distressed pools and
poorly nlargncd Spectators. In looking
backward one finds that the deprecia-
ton during the last month was treInen-
dous. and probably totals up to about
1000, 900. 1t was crash, the equal OF
which even the reactlonary days OF 1909
1904, when prices melted away like snow
under tho sun. have not seen. During
that time continuous slumps, covering
n period Rof Six months, brought about
an average depreciation Of 20 per cent.
while the average losses in prices dur
ing January. 1907, were about 10 per
cent. THAT such reaction. through
which we have Just gone, must meet
with fair recovery, was evident, and
this recovery took place last week. II
was brought about by partial coverings
by shorts, but the short interest has not
yet been eliminated. 1t Is still strong,
and TO a certain degree guarantee OF
further recovery In prices, should good
news come in.
Bull Pools Broken Up.
Nearly all bull pools formed long
nso have gone TO pieces after meeting
heavy losses. The latest Reading
pool alone is said to have liquidated
with loss OF at least two million
dollars. The pools In Great Northern
and Northern Pacific have faced losses
several times as big as those OF the
IA Htstrr II -
preston OF stocks have sprung IN
and have rcnped golden harvest, but
finally they Will meet with the fate
of all former bear pools, for this kind
OF combinations usually overstay the
market and cover their short settings
at highest prices.
The Public Apatl1etic.
From almost all commission houses
through which the speculatively In
clined public usually places their
trades. reports show that they are
carrying very little stock. The great
quantities OF securities that have come
on the market during the last few
weeks have evidently gone into firm
hands. that can afford to see further
severe storms and are not liable to
dispose of their holdings at reactions
OF a few points.
The Big Interests Doing Nothing
The big interests, who by purchases
make markets. are practically doing
nothing. They believe that a not far
distant future will bring better prices,
but In the market they confine them
selves to support their stocks by adj
ditionai purchases Of which they dis
pose at every little Improvement
They don't wish to drive the shorts
In as under prevailing conditions the
bears form the most desra BILE support
for prices. 1t is said that the rich men
don't plan any bull campaign until
they see what the further investiga-
ton OF the Hartman lines by the In
tcrstate Commerce Commission, which
Will convene towards the end OF this
month. will bring to ligh.. BY that
time the present Congress will be near
Its end, and not in n position to make
trouble. In the meantime, tho railroad
begins to prepare the public, and es-
pccially the business world for an in
crease in freight rates upon which
they have already settled. and which
will probably take place In all lines
cast OF the Mississippi! River about
April list