The Bridgeport evening farmer., 1909-01-18
WAR TALK IN WALL STREET PREVENTS PRICES FROM
 ADVANCING.

Special Cores. of Farmer.)
 New York. Jan. 16.-This has been a week of feverish markets with sharp upward and downward movements. Prices have rallied from one to three points only to break in the same man. ner. There were several happenings of unusual importance. The minimum rate of discount of the Bank of Eng land was raised from 2 1-2 per cent. to per cent the first change in the rate since March 18th last. This would be a bullish factor if the increase in the rate was due to an increase in business, but as it does not seem this it is unsettling. The English bank raised the rate to protect the home money market against the constant accumulation of gold by the Bank of France. The bank of France has been preparing to float the $250,000,00O Rus- sian loan and certain rentes of the it has accumulated gold and cash far beyond the necessity for these two purposes and in this accumulation lies the matter for alarm. There is feel ing of anger between the Prusstan and French Governments and while there is really little reason to expect war, yet France has been preparing and is in excellent shape while the Prussian Government is hard up and driven to desperation in it's efforts to find money for carrying on the domestic demands upon 1t. The readiness on the part of France and unreadiness on the part of Germany makes for peace but at the same time it is un- settling the markets of the world.
 During the week there has been a constant renewal of rumors affecting Erie, and once more it has been re- ported that receivership proceedings were near. This caused the stocks of the road to break sharply but upon the announcement that the Public issuance of $2O. .000, GOO of bonds by the road the stock rallied-regaining a greater part of the earlier loss. The action of Erie shows how little Wall Street thinks. E. H. Hartman and J. P. Morgan during the panic when money was tight and rates were high, saved the road from going into the hands of a receiver.
 Union Pacific and other Hartman issues were feverish; first weak and then strong. The decline in the first part of the week was due to the report of MT. Harrimans illness: he then ap- peared in the Street and stocks recov- cred. The tariff agitation has caused business to lag. Steel orders have fallen off and the earnings of the steel corporation have shown loss of 3D. 000.0 900 due to the holding back of or ders until the question of tariff re- duction has been settled. Copper con- sumption is less and the price of metal has been reduced to domestic consum- CTS. The Standard Oil hearing, the investigation of the "Union Pacific Harriman-Railroad Monopoly" and the hostile attitude of various Legisla- lures toward trusts, railroads and speculation have all had their effect.
 Trading in outside securities has fallen off considerably. Standard Oil lost seven points during the week mak- ing a total of 52 points since the Gov ernment announced that it would re- open the suit decided against it by the Supreme court. The reorganization committee of the Consolidated Arizona and Arizona Smelting Company are having hard fight to bring that cor poration on a sound financial basis.
 J. R. BURTON.