The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-04-17
WALL STREET HAPPY
AND FULL Of HOPE
the One Influence.
Other Unfavorable Factors
Fade Away.
By I. A. FLEMING.

In describing George Francis Train
the erratic. George William PrenJlss'
one-time famous editor Of kentucky.
made use CT this sentence;
"A railroad locomotive going siXty
miles an foSr. run OF the track, turned
upside down the c0w-catcher striking
in a stamp =ad the wheels making
thousand revolutions a minute
This description is not altogether IN
appropriate 10 the condition Of the New
York stock market last Monday morn
ing at the opening. The whole atFnos-
phere OF the Exchange was charged with
pprehension-there was dread OF the
possible. a fear for the deraiIing Of the
trust method Of doing business. dis
trust Of security operations with the
possibility Of disaster. The ticker moved
with unusual sIowness while brokers and
mission houses paid expenses out Of
profts made in balmier days-and the
whole world waited
Then, in a twinkUng. the locomotive
was riEhted. the cow-catCher taken out
Of the stump and the applied force put
10 good use-Wau Street was Itself
again. and with a hurrah the market
started Up. relieved OF the dread and
nty-relieved by the postpone
ment OF the explosion.
Had any one declared a week ago that
all prices for the week ending yester-
dav would show handsome net gains,
the assertion would have been either
doubted or 9redIcated on favorable
decision FOR the trust companies in their
aU-imoortant cases wherein the Govern
ment is seeking TO make the Sherman
antitrust law stick
An Elixir - Market
The ordering OF 2 rehearing was Ike
/ q large sized dose Of the eXilir OF life
10 Wall street. Il means a year Of
I reinforcement. a year in which many
things may and viii happen year
I IN which the proposed Federal iuCOrpo-
ration law may be enacted and the
trusts get under cover Of the protecting.
instead OF autagonistic arm
A yezr-why the possibilities Of action
in the stock markes, during twelve
months are uDlimitC's FOOLS can De
formed. combinations T,s--Ie. ana millions
/ OF shares bought and sold over ana
over again But. more lhan mat, lnere
was in the order for rehearlng hEnL
IN the darkness, a CLEAN Of hope Tor an
ultimately favorable decision An IN
Outstanding that opinion was not unalli-
moUsIy against the standard OIL and
me trusts have had d bad scare. In
the meantime. between now ana tne
FINAL ad indication OF the cases we
trusts may anticipate me decislonf IN
/ making such changes III their methods
/ as viii make them in line with recLl-
} fude and fair dealing methods
/ II is possible that the personnel OF
| The ro-sr. --a- be changed materially
! before the passing Ipon ITe maj lllei-
Z its OF dement's in tire case re mem
! hers Of the court are wise IN tnelF Gay
and generation and may BE- counted
/ upon TO point the way Tor Heeti1E
! changes that may be necessary IN meth
| DDS.
/ me faU elections and make way for
| the ext Ee1Cies Of the political SitusJloU-
ana MAY lessen the aGmtuisJration 3
] desire 20 push things
A Source Of Satisfaction
! There is one more source OF satisfac-
/ tio1 in the order for = Tehearing-there
/ was no leak IN the highest court-Ilot
even the Administration knew what
/ was roming-indeed -.tCorney General
/ 1EfCkershau was as I15ucn SUI pIlseu a.
was WaH Street Itself
/ And with the postFonernenl- came
( world Of relief 20 u STOCK ma - So
/ Traders at once toTsoL tHSt ne -
I NV falling of IN the condluon OF VIII
4 80 wheat labor troubles, threatening
! as they were, did not count as any tnlIS'
1 frr-eased wages 10 employees ana q De
I crease in the iron business were IN
/ iuportant-there was one influence ail4
/ one only -
I INC b5r financial interests OF New
/ v-C-I- took heart The great army OF
/ shorts lost heart and started 10 cover
/ -heir. contracts with a rush-the result
Z 81 the combination being the sharp al
Vances noted ali through the list OF last
weeks operations
Future Promising
/ This Is more or less ancient history.
but il was so sudden 50 unexpected and
| so startling IN its effect that It can not
be passed BY
/ The future looks much more encOUr-
/ ar4ue because prices are at point
where desirable investments may be
ufczef ND all through the list, good and
I even 81 per cent opportunities being
numerous Moreover the Street has
come 10 the conclusion that their panic
over the possible decision was perhaps
foverdore That the Supreme Court
7 would smash things. doesn't listen good
I 10 work out about right; the money
market IS easing sight along and the
exports Of gold are only a fraction OF
the production Thus does one happen
ing change the complexion OF the whole
matter
To add 10 the good effect. the reports
are strongly in favor or an increase IN
the dividends Of two Of the most promi-
nert seCurities-SOutheTn Pacific and
other stocks that may surprise their
shareholders with an extra distrl button.
bet the two mentioned are thought TO be
certainties-
The gloomy financial interests have
again turned to buying stocks As
I usual they accumulate at 10 to % points
below where they sold. Moreover the