The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-02-10
STOCKS OPEN FIRM, THEN GO BACK,
WITH LET-UP IN TRADE ON
LOW BASIS.

NEW YORK. Feb. lo-MarSst COndi-
lions are decidedly interesting with
some division Of opinion as 70 the prona-
bilities Of the immediate future Law
son. OF Boston. is out with screed this
morning in which he takes stronS Do
stion in the bull alignment While not
especially alone. he doesn't seem 10
have many friends with him in his
views. The market has acted better for
two DAYS. but II the big interests dad
not like the market on Saturday, II is
safe TO say that they do not like it to
day IF Mondays decline was war
rauted. then the rise that has taken
place since then is the direct cause Of
short covering. and not inside buying,
and the alleged inside support was not d
fact bat only suspicion
Conditions are far from satisfactory
to the Street Lawson has probably
covered his shorts and taken on lit
tie load. and Is shouting IN an effort 20
HELM things along He always shouts
for effect Il Is practically certain
that there has been no leak in the Su-
preme Court-wiH be none until the
story IS told some fine Monday morn
iuE, A story that viii be a powerful IN
fueuce for higher prices il the trusts
viii q victory, and that will rot be very
effective in the event of q oeIeas-
Wall Street discounts the unfavorable,
lust as IL Goes the favorable when
leaks occur. and leaks occur IN pTact3-
caIIv everything except the most ulSi-l-
NED body on earth-the Supreme Court
~Profis on Jhc bull side should
not be ignored" Is the way some
81 the leading houses are ac[ -
viSinC their trade here and IN Dran1h
houses all over the country Profits
should Ie turned into bank accounts on
ShOrI notice seems U-uch more apiLO-
The most favorable feature Of the sit
uation this morning was the reduction
Of the rate Of discount IN oOtn lie
Bank Of England and the DeUtscLeT
Bank Of Berlin But II IS not money
that Is botheriuE tho market II Is not
earnings dividends or business outlook
81 Is the Government legislative program
and the absolute indifference OF The Dig
interests in this CITY, that has caused
declines checked promising upward
movements and caused heavy nuulda-
tion-a eleaninE UP OF o2eTetlioI,s 80 eN-
tending over two years IN the clearing
of decks fer the legislative program Of
the President and his advisers
With the immediate opening the re-
sumption Of short covering, following a
strong op4EuiuE abroad. caused sharp
fractional advances throughout the list
amounting to ar average OF ? 10 q OF d
point and up to midway or the last
hour Of Ihe morning the gains were
well sustained
Lost and More, Too.
In the last few minutes Of the morn
ing the market showed signs Of weak
ness The short line, while by no means
eliminated by the covering Of the last
two days, was greatly reduced and the
disposition to take profits was accenJu-
ated by the selling pressure
The result was a gradual reduction
that carried the leaders down before
the end Of the noon hour 10 2 and /
point net loss
Passing into the second hour OF the
afternoon the market became very dull
and a. the same time steady at about
the inside prices Of the day TIE move
nlenJ appeared indicative Of an easier
close. as the bears showed no disposition
10 cover. The change from activity 70
inactivity vas very marked