Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-27
TRADING SLOWS UP
Wall Street Is Waiting for
Something to Happen.
MARKET SUPPORT RETIREs
Big Men Found They Were Being
Worked by Unloaders.
FEARS ARE WITHOUT CAUSE
No Reason for Supposing That
Country Is About to Go to
Smash.
BY w. @. NICHOLAS.


NEW YORK. March Is. 1910.
Two or three times leading interests in
Wall street have given the market some
shsnt support during the last week. bu,
every time they came forward with any
thing like spirit they were met with
fresh supplies from the same sources
that have been pouring out securities
ever since the Jacob H. Schifr interview
some three weeks ago.
IL became evident to the people who
were willing to see prices go higher that
they were only making a market for
other fellows to unload on-the same
other fellows being rather unfriendly
Injuns. Not being minded to give aid
and comfort to tribes outside the reser-
walton. the mildly bullish inclined in
terests drew bac:, for the time being and
once more left the market to the little
people and the professionals on the ex-
change. where it has been for the last
fortnight or more. Thus it is that news
features have been lacking and the mar
ket has fallen into a state of stupidity.
Little things have created small-sized
nurr1es and taken the place of impor-
tant developments. In order to fill space
the news slips and financial writer's of
the district have given themselves over
to discussion of minor matters and tnduI-
gence in speculation as to what the cur
rent Inertia really means. The best that
can be made out Of the going financial
literature Is that the market is in a
waiting mood-waiting for something to
turn up. nobody knows exactly what.
Outlook Not All Black.
Ihere Is less fearsomeness, however, in
the spirit OF the hour and less disposi-
ton to short selling. There is a. gem
eral FEELING that after all the country is
IN no immediate danger of going over
the precfpice to destruction It is OBJ
served that trains are still running on
most or the railroads, that a great MA
1orlty OF the industrials are giving en-
pioyment to normal forces of workmen
that enterprise in new fields OF deyelop-
ment Is very much alive and In evidence.
that the season for planting the new crop
is approaching, that the great army of
farmers show confidence in the fertility
OF the soil and the friendliness Of a
beneficent Providence, and that most of
the trouble seems to center in the ambi-
lions and fears OF lot of politicians in
national and state politics. Also atten-
uon Is drawn to the further pleasing
fact that the labor agitation seems to be
calming down. except In q few special
Fields, like bituminous coal mining. and
even there the outlook is more favorable
Tor peace than it has been for a good
while The old flag still waves and the
sap is running up the tree
A news development Of real i'm.
portance Is the partition Of the Hook
ing Valley railroad system of Ohio. The
courts of that state put ban on the
combination nearly year ago. and
plans for Its dissolution have taken the
owners ever since. A deal was on be-
tween the heirs Of ii. H. Rogers and
Mr. Morgan for an alliance between
the ,ud Hooking Valley and the Virginia
line northwestern outlet for It's coal.
That deal was knocked in the head by
the appearance OF Mr.. Hawley on the
scene.
Liked Hawley's Medicine.
Mr.. Morgan liked Mr.. Hawley's
medicine better than the other brand.
and the result is that Hawley has Sc
cured for the Chesapeake and Ohio the
tension, and the Lake Shore has taken
over very valuable north and south
feeder in the Toledo and Ohio Central.
The Rogers people will now have to
form new plans If they expect to Sc
cure the very desirable northwestern
market for their coal. They may de-
eide to build on to Huntington, and
connect up there with one of the few
remaining north and south lines through
Ohio that has not yet been gobbled up
and permanently annexed to one of the
trunk lines. This will cost a lot of
money, and may not be attempted for
MT; Rogers left no heir with his ag-
gressiveness and courage. His admin
istrators are more inclined to conserve
his estate than to take risks by enter
ing upon new fields of adventure
The Steel Corporation ends the first
quarter OF the new year with net earn
inss approximating 45,0OO,O 900, or at
the rate of $3.50. 900 for the wear
There is more likelihood of an Increase
in this rate than a decrease as the
year grows older. The present outlook
is for $190.0O0,000, and possibly 5000. :
100000 An analyst who has gone
through the detailed annual report
of the corporation figures that in actual
value the property and business Of the