The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-02-10
Market Outlook Is Bad for the
Spring and >'tin-
nler
THOUSANDS or CARS IDLE
baldwin Locomotive WORKS Put
Off 10000 Hands Earn
ings Failing OFF

NEW YORK, February o.-Specuia-
came almost to halt list week in ii's
midst of tho unccrtantes, because Of
the accommodating evidence OF shrink
age of business and industries In me
country and the symptoms of politieni
activity IN the form of public utter
ances BY persons conspicuous in polit-
zeal affairs.
The world of the stock market has
teit itself inveighed against By hoth
OF the great political PARTIES. and has
conceived that the heat OF the coming
campaign will see a continuance of this
policy in the shaping Of the oratnrN
and public discussion Incident TO the
canvass of candidates for the presl-
dency. a discouragtng effect on active
operations in the stock market s au-
cured from this spring, and q summer
of dullness and neglect OF the market
is looked forward to, which offers
little inducemert to present embark
alton on speculative ventures on
large scale. The immediate effect of
the neglected condition of the market
has been to leave It open to shifting
influences of small professional opera
tons. with dropping tendency in
herent in dull market.
Bear operations have been manifest
from time to time accomp'ned by
more than usually reckless circulation
of damaging rumors without confir-
on the side of the business contrac-
ton the perception of the present de-
preston has been modified in its in
fluence by ele opinion that conditions
are working towards improvement.
Current news. however, failed to
show the actual condition of any bet
terment. and the fundamental motive
for the halt in the markets POUNDS on
this fact.
Statistics of the iron and steel trade
for January showed process for con
traction still in progress.
Estimates OF $4,000 freight cars Id.
On February 9Th left no room for in
ferences of revival in freight traffic.
Reports Of railroad earnings coming to
hand bore the clear reflection of the
Effects of the great decrease in traffic
he country over. The enforcement Of
economies by the railroads was re-
Elected upon the equipment COM
oanies. and strong impression was
,reated by the announcement of the
aging OF of 10000 men by the Bald
win Locomotive Works.
These evidences of declining earn
ne power in the industries detraotad
rom the influence of the continued
,ase in money markets to stimulate
he demand for securities. For the
ligh-g grade Investment class Of secur-
ties, with a fixed return we'll below
he margin of assured earnings there
vas some continued ABSORPTION both
lere and abroad. In this field of in
'estment also there was some check |
IS the week progressed. partly attrib- |
tied TO the growth of uncertainty over
he political and business prospect, but |
.lso affected by tightening of the |
london money market. Money on call /
n New York proved difficult to lend, I
nd this condition was not affected by I
ONE heavy special requirements dur I
ng the week for payment of accrued
on stock issues. Money /
or mercantile purposes also was read /
~ secured. Corporations are still re-
orting to short-time note issues for .
neetlng capital requirements The
utcoma of this weeks sale of $4,000
90 New York City fifty-year "a per
emit bonds Will be watched with much
interest for the light it will throw
n the actual investment situation.