New-York tribune., 1908-02-16
MARKET OPINIONS.
Views of Leading Wall Street Houses.

T A Mcintyre & Co say;
..rbera is TOO much liquidation by recent failed
banks and other institutions and lrse :.
carried over the panic remaining unnnlsne. ~ 20 20
warrant the Inauguration OF a DUH movement 20
any extent at present This leaves eL'llrls .9 -.
~ ,ba question the continued COngested condltoh
nrevafIins in the bond market and the iIhpruOd-
biIItv OF many OF the leading railroads and lnohs
trial companies maintaining their present olEiueiu
rates to say nothing OF the cohtihu7u .Ds ale
sentimental influence of the repoTted CoL1I.lu1 ~
aggressive policy OF administration az NdsH-
tngton in It's attitude toward large corporate inter
ests and the uncertainty OF events IN connection
with the prosecution Of Hartman and the Inloh-
Southern Pacific merger. We do not oeAeVe uhsie
will be a resumption of any zeal DUN mo- e''e
until the banking interests have received SON
surance I'm regard 70 the character OF tHe e7.
tion 10 be put through by the present adnihlS
tration during the remainder OF tne tos -
session and also the probable candidates 20 90
chosen for the Presidential nominations ano 'He
character Of the platform o. policies they are 20
stand for. The country needs relief rom 80 -
uncertainties and assurance OF a good % s - -
new crops 20 check the spread OF further - -lt- -
lion and retrenchment in general business FeHuis
such developments the rallies are not I-AeS - - =
far or Drove more than temporary. as the paSSass
of the AIdrich financial bill is simply iiedsGle %
precaution 10 guard against repetition or - -
autumn's financial panic repetlton q "1'o-
are not likely TO see again
C;rannfs & Lawrence say:
..Tbe most encouraging news Of the week Is cont
rlerciaL The exports from the nlted Stt.VS - -
ing January amounted TO Szs.'oVy1- "A lal = -. a.
,ance Over the previous maximum for January,
which occurred last year As our 4l.y'- = -,
shrinking at the same time our exports n- a-e
creastnc il is not likely gold exports VIII ahII.
n much this wear. Domestic commerce alSo So So
rnYnistakable signs of revival; thousands oi ouy
have been in New York TINS week % s-"
orders for spring goods
Marshall Spader & Co say: . an
1T is impossible TO discOnnect the pfeseht -,
dition of the security market with the Pt P "a
si,Iation al RECENTLY developed. and. inasnNca s -
This influence will most likely preNSi' u - to
the spring and summer. We nave hotilLis - ,ssbls
rar41Pv
revival OF trade based on the promise -
crops Commercial enterprises and PHiiS .. % nsTa
ufacturers throughout the country are pc oe4e e-sred
In allegiance pending new leSlsI,ati,u - 7,rs,rifuL
in washington and elsewhere Money Is p pl lass
but II does not appear that even ~ 'lg ten a.
of railway securities would De eeiSV. 1scE os
mi i,,rcf,4re and IL IS right here that s.- -
confidence is shown. as well as eIea' W. 40 NOT
sion concerning the political outlook we r,rry ~
expect to see a sustained H'"'N
values in the near future
Carpenter. BagCOt * Co say; ,. .nslr
we unhesitatingly advise investors % s~-ard
- - ,ha basr class OF securities ard S'. -
nat" and to operators We Would say ,assd on
same class of securities should oe P..ar m
any violent recessOns The pears, 0N~F
few instances. have had their Gay
J. D. Bache & Co. say, .. A
There is really very little change % nc. no.. ,ut-
few manufacturing plants are increasas I.-.ass
nut but il must be remembered that -. -, stop
S.,o~es With what was almost complete -
mage Some wheels must turn 70 Aeep -, ~ IN
daily consumption. But no one IS oES-'e .-,.to,k
n e.
is certainly as usual depressing business -
nlent pulnsss is making for lower pi pe r ,,x,r
modttes but this must naturally so turtl sssr..s
prices must decline before the bottom @ -, -,v
depression Is reached the cost OF opera -oat
excludes proht and. without the incehtNe t.H~ an
business cannot be expected 70 expand -, *
however there = absence OF much peS'-4rs s,r,sss
business Stagnation accompanied oN hoPo
seems TO be a fair diagnosis OF the sltaA'0"
Miller & CO. say: 49,, ,-,,,ron
The transitory phases Of the poltles So, xs
NAV affect prices unfavorably az times. - o A
feel that the trend of prices continues ''
higher level
r f. Hutton < Co say - ,,., AZ
Financial powers not buying stocAS - n
the present level with the grave uncsrIAll csrI,s,r,
the results of government control over COZ
which seeris inevitable.
Prince & Whitley say - ard
The stock market is chiefly trader : U'iI. -
except when under liluidat ticu OF esPeelai i t,y
its movements are caused by theii 'et, Ian
changed operations either side OO''ii,s .~,ss
houses account % investors and ''e sr,r,
speculative public doing very niue, anu ai,r,l
present outlook there is little chance OF i a's sea-
speculative revival with the probability o. s..s
al recession Of values a point where hNsS"
will ind advantage TO take hold