The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1909-01-28
Doesn't Understand ar01ans PanrUou Over Possible Con0o
NEW YORK STOCK MARKET SOFT,
WITH DECLINES GENERAL
THROUGHOUT LIST.

NEW YORK. Jan. 2S,-2 p m,-The
market continued duu with but little
change other than increased weakness
1n New York Central which dropped 90
1291t. The bears had shown little dis
position 10 cover the lines put out this
morning. up TO this time, whatever they
may do Iu the last hour.
The Street awaits some explanation OF
the intentions of Mr.. Hartman. fearing
sutagOuism Of the old New York Central
interests.
NEW YORK. Jan. 2S-I %. m.-The
stock market Is wobbly 1T looks very
much like d weakIing, and if not sup
ported declines may extend stin fur
Their. Perhaps the chief cause Of this
condition is the admitted fact that bust
IesS conditions are anything but salts
factory, and there Is but little chance
Tor Improvement so long as the tariff
rs unsettled. Buyers will follow the
Aaud-to-mouth policy i'm their purchases
waiting for the new duties. and COudi-
lions VIII continue. The Iron Age re-
Erets that the iron and steel trade has
hatteued out The statement is made
that the United States Steel Corpora
lion earnings FOR the current month
VIII probably not exceed $3.50 600. Tt is
generally admitted that the schedule
makers viii cut tariff on steel and iron
deep, but the effect thereof should not
be serious, say in times of prosperity.
Some railroad earnings are better,
others showing decreases. The Street
IS vitality interested In the election of r..
H. Hartman as a director OF the New
York Central Railroad Company. but
doesn't know just what TO make of IL
Hartman in New York Central.
STOCK Exchange houses made a siren
nous effort today at the opening Of the
market to confirm reports 10 the effect
that the New York Central is to be-
come a holding company for the Har-
1-imau lines.
The arrival of r. II. Hartman ct
Jersey City this morning from his
Southern trip, was coupled with the
rumoT that he would have something to
say OF interest TO the general business
world But Hartman went TO his
home where he denied himself 10 all
callers He sent wore 20 his office that
ne would be there tomorrow.
Brokers who are known to be close
20 Central officials. were clearing the
boards ready to buy Central if HaTTi-
man made q public announcement Of
MS new plans todaS- II IS suggested
that tho Union Pacific merger hearing
now being held I'M PltJSourgf under the
auspices of the Government, IS COINS
badly for the Hartman interests, that
Hartman knows il, and is planning TO
organize a new holding company ia
case the Government wins the Pitts
nUrg case,
be just as illegal as the Union Pacinc
merger. is said to be admitted, but it ls
argued that Hartman attorneys had
CLEANED a few new wrinkles IN mergers
and that the Interstate COmIlcTce Com
miSStOnerS might be willing 10 let a
new and more legal holding company
be organized for the general g0Od or
business conditions
VanderbiIts to Stay.
Followers of the Vanderbilt fortunes
deny that the family has been forced
from the Central by the election Ct
Hartman as a director Il was an
nounCed by a central official that the
retirement of Senator Depew as chair
man OF the board would become eIec-
tive within sixty days, and that the
Vanderbilt family. with the aid Of Har-
Iimans hOped TO take a. more active IN
Icrest In their once vast property
Some comment was heard on tAe
Street Ou the forthcoming decision on
the commodity cause about to be issued
by the supreme Court There are no
leaks from this high court. Wall street
accustomed as il Is TO discount every
thing is not even questioning the out
come but waiting and hoping that lt
Will be all TlEht-thdt II VIII not inter-
fere with the coal roads and their bust
ness OF mining and transporting their
own coal TO market or elsewhere.
El0ELIF nELEl a. com par al ely 1-Eo-NAt
opening, the list began TO show weak
mess. This extended 10 the indusJrials,
which during the last week or ten days
have presented a good front TO the bears,
but today they slumped badly
The weakness iH the rails extended 70
the Hartman stocks generally ana
most OF the others except Rock Island
snd a few higl-ClaEs investments.
II Is evident that the Hartman move
en- New York Central IS a disturbing
element. where it was predicted as bull
pointer It. Is probably feared as dis
TurbeT OF long existing understandings
and combinations.
Whatever the cause, there was some
liquidation. some selling 10y bears VINO
considered the opportunity fair and
recession of more or less Importance.
Declines.
ST. Paul sold of a point. Union Pa
clIc. IA Southern Pacific. ~. Read
3ng. o. Northern Pacific, IA New York
Central I1s- Shelter, Realty. Sloss-
Sheffield. point Copper ll4s and steel,
common. a point.
From these declines there was bat
slight recovery. although some profit
taking caused "a fractional recovery be-
fore the middle of the first hour of the
afternoon AT the same time the mar
Jzet became more quiet and the dullness
was depressing.