The Washington times., 1910-01-19
SOME SEVERE DECLINES IN STOCKS.
BUT BEAR RAIDS MEET MORE
RESISTANCE.

NEW. YORK. Jan. 13-It was an
other case OF rise and drop away
again on the exchange, a rise from the
tap of the bell. a drop, and then a Htue
recovery. with "A very nervous feeling,
and with the support coming almost en-
tireIy from the covering Of the army OF
shorts. scared by the extent of their
operations. and then a toboggan slide.
Sated with success, but not satisfied, the
bears go roaming over the list searching
for weak spots, and when they find the
Indication they hit It hard, and the ef-
feet is at once felt all over the list
Prices break seriously. Then they
commence to take profits This ma
ueuveT has been underta ken time and
again during the last ten days, always
more or less successful This morning
the bears gave Inter5orougb AIetropoIi-
tan ID jarriuE and turned the whole list
Yesterday afternoon IT was the unsup-
ported Hill stocks. good. honest : per
cent dividend payers, but with TO back
ing In the market These latter shares
were higher today on covering The
smash in InuerborOugh Metropolitan
was from 23Is TO - to 15@s on the COM
mon, and 615s on the preferred down
10 55lz. This on top Of the losses for
some days past was a smash that
counted and in minute the list
swerved, turned and sIumped-
Small Investment Buying
Some brokers asserted that they could
see evidences OF some good buying Of
stock It is a fact that investment or
Cers are beginning 10 come into the
market. but they are generally for small
lots of stock. paid for, and It takes
q 81 L q q al
effective impression
one large house sent out the follow
iuE comment on conditions
"It is q state of mind, not market
the meantime II is annoying and ex-
Ue1sive. Apprehension is the root Of
the trouble irreEuiar-ty and nervous
ness viii have their sway for q few
days, and then we VIII return 10 sanity
We have discounted many adverse
Developments while business has been
going ahead
Ana then the comment closes we
StI-I believe on any degree OF strength
that stocks are a sale for q turn
Found Another Weak Spot
The bears found another weak spot.
and they hit it hard-FTockinE Coal and
Iron This they. jumped on for 53-
point decline and then they took an
other Cracfs al Jle whole list
The buying orders. aside from the
Tact that there We're small Investments
and that the speculative buying was by
shorts were generally FOR quick turns
and small profits appeared deSirab BILE
London came ia more favorable. but
Ecw gTE has had so many false hones
raised by London that &c Is without its
usual eject The American Tobacco Of
-clris are confident thaL the Govern
Uert has not made out a very Str8uz-
case and they are coufdenE that the
decision VIII ne nothing ike as drastic
a. tHe general opinion would Indicate.
\ decision is looked for FEBRUARY IL
10 March r. The Standard oil case and
Ire Government suit IN Union Pacific
southern E8CIIc case should he matters
Of record Dy the middle or last Of next
north
As time wears on the liquidation in
the market continues and must be near
5n@ completion some traders expect
a ragged uncertain market until about
the first OF next month.
mere were r7ETE"r~ OF aggressive sell
ais Of the reported intent or directors
pt the Ia-l roads TO cut dividends
Missouri Pacific UTE issue $40 11-fFt
Tfi funding convertible bonds It was *
rights Tins morning and points higher.
h drop OF many points in Hooking
Cal and Iron was followed by two
failures and just about ! o'clock the
list which had stood the dep-esSf--
news with TeuzErl-aEIe steadiuess. com
u"Ured ro so again The quotations
below VIII indicate better than dgSrTfD-
r"1 the character OF the late fiucua-
lions