New-York tribune., 1908-01-26

apprehension OF the development Of any important
| bear movement The markets are now practically
in state of eQuipoise. Therefore, the best that
can be expected from the present conditions is a
continuance OF a comparatively and irreglI-
| lar traders market We think the tendency OF
prices VIII be more likely to work lower until con-
hdence has been fully restored and business has
had chance to revive rather generally Their.
| will be. In our opinion however good opportuni-
! ties offered for making scalping operations for
moderate profits. and with these in view We would
favor pursuing i traders position. and suggest
purchases OF the better class OF The more active
stocks OF the railroad list further breaks: but
only with the view OF selling promptly when
ever the transactions show a moderate profit
, pending developments calculated 10 the sta
bility OF the general market reussIrinS"
Alfred Mestre & Co say:
Monetary conditions have sunk TO a posi-
tiou of m!nSr Importance factor in speculative.
sentiment. and price movements on the Stock Ex-
change for some time 10 will be soyerned
more by matters pertaining To the state the
countrys general business. reflected in the earn
inGS OF railroad and industrial corpora tiCns Quota
lions on the Stock Exchange during the last week
after suffering rather pronounced slump ON Tues
day. nGctuated irreguariy. with the general
tendency downward, the list as Il whole leaving off
each day somewhat under the previous days final
level As for the immediate future of the stock
market. it seems to be drifting into more less
Of professional rut. promising be characterized
by comparatively narrow fluctuations"
Prince < Whitley say:
The only encouraging factor for speculative pur-
poses Is the cheapness of money here and abroad.
but already there are signs of an early demand
from all classes of corporations and if the rates
now ruling here should continue under those in
Europe the chances are for exports OF gold: al
ready the constant advance in exchange is paving
The way In that direction. Without referring to
possibly disturbing chances of the coming Presi-
dental campaign. with its effect on business the
situation IN general. as it presents itself US.
warrants caution and crcumspecton in commit
ments. especially speculative ones
J. 5 Bache 4 Co. say:
The stock market having enoyed its January
boom which has reflected the Deneiicent effects OF
me return or easy money. may nave reactions and
recoveries in the speculative stocks each
time stopping in it's rises a a lower point than
before. until finally. settling down the lowest
tbut not the low levels OF the panC) NAV be en-
pected to drag along. with duness tne dominating
characteristic for longer shorter period until
the industrial position has shown evidence of thor
oughly rghting itself and the political outcome is
reasonably certain. Then. barring the unexpected |
the real rise should begin and the country should
enter upon four years of the greatest prosperity
that any land or any time has before re- |
coded
Marshall. Spader & Co say:
While not prepared to urge full support To the |
market at this juncture. il must be admitted that
corpora tons stand in a much improved position |
with regard to their chances for securing funds
for equipment and betterments reasonable terms
and this may finally be reflected in trade
activities.
Carpenter. Baggot & Co. say:
LAS view the situation, We recommend con-
servatism. although We regard the increased de-
mand for bonds, the decision of the Supreme Court
of Pennsylvania i'm favor of the Pennsylvania
Railroad declaring the 2-cent rate law unconsti-
tutional. as far reaching. and the Improvement III
the copper metal situation most encouraging. /
and all making for better basic conditions and "A !
firm founda ton for Improvement later on
F. F. Hutton & Co
Some recent bull accounts have been iquidate,.
giving the market weak appearance in spots We I
believe the market entitled To frm rally
Miller K Co say:
The tendency of the market seems plainly To
become duller and narrow but the short interest