The Washington times., 1908-02-10

NEW YORK, Feb. Io.-NoOn-Wall
Street is becoming very tired o. the
nonotony of a continuous decline, un-
relieved by the slightest show Of ttmid-
ity on the part OF the bears or OF In
terest on the part Of the public. The
situation IS tiresome even 10 those
whose duty It IS 10 watch the market
from day TO day.
George b. Post, jr-. one o. the best
known brokers on the Street, gave IT
as his opinion that ''sOmet hiTs ts hand
ing over the market. but whatever it is
the real trouble lies N the pail OF
politics and semi-sccialism, that is more
effective than anything that could hap
zen. There is no doubt but what liquida-
ton is here again. 1t Is hard to feel
Eullish when the hand Of every man IS
turned against you"
Mr.. Post Is rot usually pessimistic
In his views, bat there seems TO be bUG
one side to the market right now.
However, the declines have wiped out
most of the advances since the october
and November panic quotations. and
there must be q turn II II IS only caused
by the shorts taking thei- profits. On
this theory the chances at this time
are for a better closing.
The bank statement or Saturday was
g. Keen disappointment to the traders,
as it showed decreased reserves and in
creased loans.
London was somewhat lower, and
there were selling orders from the other
side.
The declines were well distributed
throughout thu list although Copper.
SneIteT, and the StseIs did much bet
ter relatively, than did the rails. Sugar
was the only one Of the industrials that
was i'm bad shape, the decline here be-
ing over 2ls points.
The most serious losses IN the rails
We're ON Canadian Pacific, pa, Northern
Pacific, lla, Southern Pacific, rs; Sal
IIWOre and Ohio, ~, and AICh1son, a
fun point. New York Central PenIsyl-
vauia, Missouri Pacific, Great Northern,
and St. Paul We're 1zgSA lower on the
average. Reading was the active leader
of the market, but here there was a 1c-
cine OF IA points. The Steels were
3aa3s lower.
1:I5 p. m.-The first hour Of the after
noon found the bottom slipping out Of
the market. The bears, sure Of their
position and confident of the inability
OF the bulls TO rally the market pressed
their advantage in their old and ag-
srcssive style. They hit the list first in
one place, and then IN an another, ard
wherever they struck the price dropped
not by Fights and quarters with &C
CusiOnal rallies but by halves and With
cut recovery.
In this raid they uncovered much long
stock that was thrown on the market
by tired holders and some maTgined
shares that were also thrown over. In
this decline there were no exceptions. no
strong spots In the general and all-pre-
.Vailing weakness. Everything broke
and broke more OF less badly,
The decline 81 Copper reached IA
fSmelLer ia net. Baltimore and Ohio
dropped an additional 2. and so did
.lAtchison. The ret losses ar this time
.Were points on Union Pacific on
jReading and Sugar, . on Missouri, 1sl
ION Norfolk and Western, SO on Cana
dian Pacific, and 3 on Louisville and
Nashville and Delaware and Hudson.
Great Northern was of ? points, end
the Steels sol point
The situation appeared TO be getting
worse rather than better. although the
enlargement OF the short interest is the
hope OF subsequent advance