The Washington times., 1910-02-04
STOCK MARKET SHOWS FAIR GAINS
ON COVERING OF SHORTS.
is VERY NERVOUS.

NEW YORK. Feb 4-Wau street
was breathing q little easier, but that
was about aIl-that and some advances
Of a point or more in the leading shares
and y point elsewhere In the list, with
the Hill stocks to the fore with the best
gain Of the day. Free from entanGlins
alliances, not at all likely 10 be inter
ferred with IN railroad legislation with
a through line. two of them practically,
starting from the Twin Cities and get
ting their share Of the business and
able to pay per cent dividends for time
10 come. these stocks, Great Northern
and Northern Pacific, look reasona5 5iy
cheap a little above The Iso mark They
moved up points and gave observers
evidences Of real Investment buying
While the street feels a bin more COM
Portable after the clearing OF yesterday,
il is By no means IN a comfortable
frame OF mind. The losses that have
been checked I'D against holders OF
stocks have been awful, and the con-
tinual call for margins nerve-raCl1ing.
But the worst feature Of the situation
Is the apparent Indifference Of that
group OF operators familiarly known as
insiders The st-aet is inclined To the
opinion that the insiders sold heavily on
much higher lewis and Jhat they intend
10 Fe-iusra1e their holdings 1T about
present lewis or even lower. It IS Prob
able that sCDle high-prlced stock was
sold on the high lewis, but that the IN
sIders have parted with much OF their
stock must pTe-suppoSe a large public
DlyInE- II mas generally been thought
that the public was out OF the market
It did follow The rise In steel common
with aylditv and in the advance the
wise ones made much money but so Tar
as a wide general public blyinss move
UenL, such as would be needed. 10 take
insiders holdings IN blOcHS-there have
been no evidences 20 confirm the story
II would look as II the decline had
been drastic enough to discount the
worst that the market can get in the
way Of WhIte House plans and Supreme
court decisions but looks are often de
CeitfuL There has been no evidences Of
actual support to the list although
there have been isolated cases mere the
attacks were no especially severe. where
& little support has diverted attention
The action on the United States Steel
Corporation in deciding 10 follow the
4ODdCCO trust IN EoIu- uTtrr the retail
end of the business would seem TO indi-
case that the big billion dollar CORPORA
llGn IS not worrying over its position
with the Government OF with respect 10
NulnefdbliiJy IN tire event of the de
cislCnS OF the supreme court being adj
verse TO the trusts involved In the
event OF the position Of the CORPORATION
being vel taken the rev r70-er7euf
ought 10 add greatly. To the profits OF
the concern although lt VIII probably
-tf-f o. t-NtEt N-Lla wan tltV tfltltf' zen
dents But Il VII give the steel Cor
poration an immense increase in quick
trade.
The market continued TO show good
strength through the noon hour and the
nrSt half OF the second hour Of the fore
noon But the volume Of business grad
uatly decreased as the covering and
investment buying demand wa faE-r
care Of With the coming OF the dull
hess, there was a gradually IeL-up I'm
values Of about 1z1fi Of a point from
the high
Ut the market in the beginning Of the
second hour OF the afternoon did nor
LOOK so very Weak-but no one can tell
what u minutes viii bring forth in z
market as tender and nervous as this.