The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1908-02-07
NEW YORK STOCKS
AGAIN SLOW LOWER
Market Influenced by Dread
of Another Message From
President on Labor TrOu-
bles-Bears More Ag-
greSSlVe.

NEW YORK, Feb. 7,-ClosinS-Du During
The last hour of the day The market
became quite weak again and the morn
ing declines were extended about =
point and IN some cases "a of a point
additional
The bears. finding the Tallying power
very light put on a little more pressure
and the list yielded with not enough
doing TO attract special attention
A wearing, WeaTyIns market, with the
street thoroughly disguised.
NEW YORK, Feb I-NOOn-Llere
were numerous rumOrs about tOWn OF
further financial troubles, OF securities
TO be lIquidated. 1t was like pillug
trouble on trouble and on this condition
the market became weak very soon
after a steady opening and The entire
list, with the possible exception OF IL
Hnois Central, turned on the down grade.
Inc bears assumed Ette more ag-
SreSsive tone. and helped along the
break. They did not ike the rally yes
terday IN the last hour, evidently with
out reason. and they pressed their ad-
vantage today with "a little more aggres-
sJveDeSS as q result
he bears made a play at Brooklyn
Rapid Transit on the theory that there
would be a demand for a single scent
fare from the city 10 COney Island, al
though some Of the gosSips referred t.
this movement as a ''LwO-dOllar play,
and one that would hzZ out before il
had gone much further. The stock open
cd at 45>4, sold down TO AVS. ana re-
covered to ass.
In view OF the developments in the
Morse case. il was but natural that
Ihere SHOULD be q comparatively serious
break in Ice. although the stock is so
low now that there is not much chance
for further loss. II opened nearly two
points on, at 1Gts. and recovered fraC-
ton.
In the general market the trading was
very light. Professionals were about the
only operators, but here and there fresh
selling orders. liquidation of actual hold
ings, developed.
Another cause for uueasiness was the
reported intent OF the municipal govern
ment 10 market $I55I00 011 of bonds.
But the chief factor continues to be
the race for the limeLght between the
President and Mr.. Bryan, with every
thing that either says more or less OF a
jar TO the market.
than as stated. The unsettled COndi,
ton. nervousness. uncertainty, and gem
eraI disgust over the way conditions
have developed tends to nothing but re-
ues. Oue good feature was found In
the increase of the short line OF stocks,
for the short interests seem TO be the
only hope Of the Street for a recovery
in prices
The Pennsylvania Railroad Company
has ordered 5000 tons of rails. Every
rail Will be watched and examined DE
experts, and record kept of its use
and service. with a guarantee Insisted
on as 20 workmanship.
4 gross gain Of the earnings Of Great
Northern for January, 1903. of SI59,6t3, an
nounced yesterday afternoon, was par
tally responsible for the better close
Southern Pacific for the fiscal year
ending. June 90, 1907. earned 1888 per cent
.Ou the common stock.
Copper lost Is, Shelter Is, Baltimore
and Ohio p to S0ls. Chesapeake and
Ohio s. 10 =: Great Northern opened al
1871. and declined to LS12, loss of q
point. with a slight recovery from low:
Copper was on IA, and later recovered
all but = Of the loss; New York Cen
traI and Reading a point lower; 81.
Paul also a point OF with Union Pa
cifc s. lower. Illinois Central actually
advanced points
l-30 %. m.-There was a slight recOV-
egy from the noon prices. but the mar
llet was very, very dull, The Street
has commenced 10 fear the labor mes
sage which it is reported the President
has determined to send to Congress
Tie story is that the Executive fears
the effect on Secretary Taft's chances
for succeeding, unless labor Is appeased-