The Washington herald., 1910-01-29
WALL STREET NEWS
Slow Recovering of Morning
Followed by Declines.
FINANCIAL FEELING RUFFLED
Stock Trading Is Peevish, and Ru-
mOrs of Threatened Strike Of In
dianapOlis Miners or Revision of
Federal Charter Bill Fail to Stir
Interest of the Brokers,

New York, Jan 2S-WhIle the days
stock market obviously underwent
Quieting down, II was yet IN all essential
particulars of exactly the same character
as those which have preceded 1t In the
past fortnight. and notably in the pres
ent week Prices having fallen violently
yesterday were due to-day TO recover.
An alternating movement OF this kind
has gone on for quite some time, and to-
day the programme was still adhered to.
The parallel was the more closely fol-
lowed to-day. moreover in that Just as
heretofore, the activity OF the market
was greatest IN the morning hours Of
business. and that after that time reaction
and duIlness set in. The recovering move
ment in stocks began yesterday about
midday and lasted up TO noon to-day,
To-day the declining movement occupied
' the majority portion Of the last two
hours OF the stock exchange session.
Probably all this means that the market
IS moving slowly to an equilibrium, but
II IS still manifest that financial sentiment
is unsettled. II not positively depressed,
and IN the main conservative opinion is TO
the effect that no decided resumption of
the advancing movement can be looked
for until there is a dissipation of the
forces that have operated 10 pull down
values with such rapidity in the present
month.
Market without Interest.
L There We're few, II any. particular
= features in the days market Yesterdays s,
as much Of a factor as any IN the ad-
vance that occurred. there was rumor to
the effect that at Tuesdays meeting of the
directors Of the Pennsylvania Railroad
Company the companys stock might be
placed upon per cent basis.
To-day Wall street was not In the
same receptive mood that It was yes
terday and Pennsylvania stock made an
extreme decline of one and fve-eighths
points, because OF skepticism over the
probability OF such action by the Penn
sylvania directors as that referred to.
The most important actual news OF the
day was perhaps the further dlsquieting
dispatches from Paris regarding the dan
ger done there by floods. Efforts 10
make exact estimates upon this point
have little data to rest upon. and there
fore represent merely guesses.
But it is evident that the losses viii be
much greater than have hitherto been
supposed and that such prospective
losses as those coming from the cutting
down of tourist travel TO the city during
the summer will be great
Rumors Fail TO Alarm.
Talk Of large claims made by the
miners union at Indianapolis for in
creased wages and further discussion in
Washington Of the revision of the Fed
eral charter bill to be introduced in
Congress next week interested people in
Wall street but little. The weakness fl
American Smelling and Refining com
mon stock was doubtless directly due e
the publication of the semi-annual state.
ment of the company, indicating earn
ings Of but ca per cent applicable L
dividends upon the common stock fol
the full-year period.
Regarding conditions in the iron an,
steel trade. one Of the Wall street new
agencies printed a summary Of inter
views had with the managers Of the Iarg
railway equipment companies. all o
these uniting In the general statemen
that orders from railways for new car
and the like had recently fallen off from
% TO 80 per cent. This was partly attrib
Uted TO the decline in the stock market