The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1908-02-12
MARKETS DULL LAST WEEK
Irospects is That Matters VIII be Tn
settled Until National Campaign lis
Over.

New York. Feb 1O.-Speculative ac-
tlvity in the securities market came
almost to a halt last week in the
Iniost or the uncertainties presented
py the accumulating evidence Of
shrlnkage Of business and Industries
in the country ard the symptoms of
| political activity in the form of nut-
TIC utteranccs by persons conspicuous
| in political affairs. The world of
STOCK market has felt itself inveighed
| against by both Of the great political
parties, and has conceived that the
heat of the coming campaign will see
continuance Of this policy i'm the
shaping Of thc~ oratory and publicity
incident to the canvass Of. candidates
for the presidency. E.
| A discouraging effect on active OPP
erations m the stock market is ar
gued from this prospect and a sum-
mer Of dullness and neglect OF the
market is looked forward, to, which
offers little inducement to present en-
barkation on speculative ventures.
The immediate effect OF the neglected
CT ndition Of the market has been to
leave it open to shifting influences of
small professional operations, with a
dropping tendency present i'm a dull
market Bear operations have been
i nifaSf - ~,
MED by more than usually reckless
lcirculation of damaging runners with
out confirmation.
On the side of the business con-
traction the precept Of the present de-
J preston has been modified in It's ill.,
fuence by its opinion that conditions
are working towards current news.
however, failed t. show the actual
condition of any betterment, and the
: fundamental motive for the halt in
the markets found in this fact Sta.
I tistics of the iron and steel trade for
5 January showed a process 'of contrac-~
t ton still in progress. Estimates; 6f
L $4,000 freight cars idle on FeB. 6
g left 10 room FOR inferencess sog a'revl wal
= in freight traffic. Rcpclts Of railroad
v earnings coming to hama bore the
t cie1r reflection OF the effects of .he
= great decrease in traffic, the cown,ry
n over. The enforcement of economies
Il by the railroads was reflected unon
: the equipment companies and a,
strong Impression was created ny the
r iannouncement of the laving off of ten
n j1housanh men by the Baldwin Loco
motive WORKS.
eJ These eNi'lenccs of declining carn-
q ing power in the industries .letracted
= from the influence Of the continues
n ease IN the money markets 10 stiu,u-
5 late the demand for secuit'es For
'he nigh grade investment class o.
c securi'les with fixed return we'll b,-,
low the margin of assured earnings
d there was some continued absorot;,r
oo'h here am abroad In this hol,t
= or investment also there was sou-,.
. check as the week progressed. part
I ~ attributed TO the growth OF uncer-
e tainty over the political and business
prospect, but also affected by tight
ening CT the London money market.
! Money on call in New York prov
: eo difhcult to lend. and this condition.
was not affected by some heavy spe-
cial requirement during the week for
payment of accrued subscriptions ON
stock issues Money for mercantits
purposes also was readily secnr..d
Corporations are still resortinr to
! snort time note issues fer meeting,
eapi'ai requirements. The outcome
OF this weeks sale cf $4,000 600
New York city 5Q-year4 Ia Der cent
bonds will be watched with much in
terest for the light it will, throw ON
inc actual investment situation,.