The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-01-25
SERIOUS DECLINES IN THE LIST,
WITH BEARS VERY BUSY.
LATE RALLIES.

NEW YORK, Jan. 25--From the tap
OF the beU vel into the second hour
Of the morning the bears continued TO
trample on the stock list. finding land
inzs soft and well suited to their idea
Of what a break should be. And there
was no opposition. If the Standard
OI-AIorEan following wanted to stop
the downward furry they made not the
slightest indication thereof-if they
wanted # TO continue, they acted in
that way. Loans were called, margin
calling was the chief occupation OF
clerk, margin calling on that large fol-
loving that failed to read the hand
writing on the wall, and continued 10
believe IN a rise
Every other influence was secondary
70 the attitude Of the Administration. "
The Steel directors meet this afternoon
10 take action on the dividend, report
earnings for the year 1903. entire, tell
the story Of untitled tonnage and Of ma
terial great progress But this IS moth
ing compared with the report tl,at '-JHe
steel trust is 10 be investigated the
Department of Justice Is after II Inc
dividend may be raised To per cent
but that viii have little or no effect
unless the Poyvers-that-be, by the same
meaning ROCkefIll Ter NJ --aU-SJl man
ct al, coming to the aid of the market
and twisting the tails OF the bears good
and properly.
There was much political gossip on
Wall Street this morning and II was
not IN the nature Of complimentary re-
marks anent the Administration.
The market for sterling exchange was
much StTOIg ger banks are calling mar
gins with Impotence and many brok-
erS are throwing over stock when re-
SpOnSeS 20 their calls are not prompt
The lear IF the Supreme Court de-
ia 10 q I'd
CO cases IS on the Street, and coupled
with this is the real dread that al
ways attached TO Roosevelt policies.
The steel showing is expected TO
indicate 6010.O00 tons untitled orders,
and 81. 1900 20 100000 earnings for
the fourth quarter OF 1909 The Street
believes there viii also be an extra
distribution to the common sharehOld-
ers Of = OF one per cent
There Is some fear OF the aftermath Of
the Hooking Coal and Iron disaster,
more than has been allowed to come TO
the surface in Exchange circles
Steel Common and HarTimsns.
With the first tap Of the bell the bears
were on top Of Steel, the Harrimans.
and later on Chesapeake and Ohio, with
& pernicious activity, and then in Con-
EOlidated Cas- then all around the room.
meeting with easy successes.
steel common started at S-}lz, 4 loss OF
Ia and found low at Sis from whence
II recovered 10 81 on short covering
The prefer-ed was two points Of Union
Pacific started Al point loss and ran
into net decline Of 4s. points, OF to
1ezzs, with a recovery TO 1876 Southern
Pacific lost 81. Reading 3D. St Paul
* CheSa peske and Ohio ~. Copper ~.
Smelling 4 and Consolidated Gas 6sL- Re-
Il was a case Of sell, irrespective And
then Il was a case of cOver-sOme and n
rally followed, but its proportions were
not large, probably not over 7 point
on the average
Shorts Cover.
When the shorts started IN 70 cover,
they found some stocks not so plenty as
they were earlier in the session The
backbone Of the market In the first two
hours Of the afternoon was Steel COM
mon. where there was a rise from SIS
70 S. It looked as IF the insiders were
giving this stock support and as II the
announcement 10 be made later on
would be favorable. Union Pacific rose
. points to 1865, Southern Pacific nearly
.. to PISS and Chesapeake and Ohio a
little over q point Reading went hack
2 little from low and the whole list
gained fraCtiOnalIy- But the only buy
Ing save in few stocks seemed TO be
from the shorts, who were taking IN
their profits
The chances are that the covering
will continue III TO the close a. che
shorts have become rather tiThid over
their successes