The Washington times., 1908-02-09
New York Traders Dread
Message on Labor
Problem From
President.
Talk Of AtChison Either
Cutting Or Passing
Quarters DiVi-
dend.


have been occasional spurts during the
week the stock market has been dull
every one Of the six days, undressing
and profitable only to the bears. There
have been but a few timid rises and
nothing indicative OF strength.
The situation is discurasing, and there
is no telling but what the Ides OF No
Sembor may have TO be on deck be-
fore there VIII be much of anything
doing. The Presidents message proved
a blow and the market is still unable
TO get its bearings. The latest dread is
the fear of another message on the
labor question. Anything that The Pres
Ident says, whether pertinent 10 the
speculative center or not is OF vital
Importance.
The campaign Of 1903 is on. but the
result is a matter of doubt. That this
is true is admitted By both the leading
parties Congress is busy manufaotur-
Ing cam align ammunition and In fits
haste for offensive and defensive weap-
ons it is doing but little business.
Pennsylvania Orders Rails.
Perhaps a slight Improvement in the
demand for rails-an order for 5000
IONS from the Pennsylvania being the
largest oroer booked-is about the
brightest side to the Industrial situa-
ton The January failures are the
largest on record. numerically and for
tie volume of business and liabilities
involved.
The declines We're not severe in the
early days Of the week, as partial
recoveries followed temporary reactions
and the bears old lot seem at all in
c,iHed really to taFa advantage Of their
opportunities.
Now and then increased dividend talk.
good report Of earnings from some
road, as in the case of Great North
ern's January showing. and a little COW
eTing on the part Of shorts would cause
n recovery of a point or so from the
low mark
But an the time the weight Of Iquida-
ton incident 20 the cleaning up Of the
securities Of the defunct banks was
bearing on the market, all the time the
dread OF the proposed labor speech was
hanging over it; coupled with the
knowledge that the failures for the
month of January were the heaviest in
the history of the United States. as to
liabilities and numbers also.
Cuts Coney Island Fare.
Two probabilities cut much figure in
tie closing days Of the week. The in
DEDUCTION Of q bill in the New York
Legislature calling for a scent fare to
g0aey Island, was a severe blow TO
Brooklyn Rapid Transit. the more so
as the chances are that the measure
VIII be adopted. Then the story runs
TO the effect that Atchison win be IN
able to pay its full dividends this next
quarter and that it will either be
case of GU, or pass
In the face Of adverse conditions the
market remained very dull with inconse-
oUeutial changes, other than here and
there, up to the close on Friday. Sat
urday was the worst day of the week
for securities. The bears found en-
cOuragement and pressed their advan-
tage as they had not done before. and
the demand was SO incOnseqUentIaI, even
At the declines. that there was no rally
ing. Short sellers were sure Of their
position and Indifferent to all talk
Saturdays declines extended TO / to ,
to 3 points, every stock on the list in
which there were transactions going
of in the decline.