The Washington times., 1910-01-11
WALL STREET MARKET VERY SLOW,
WITH WEAKNESS PREVALENT
THROUGHOUT LIST.

NEW YORK, jan u--Nau Street
stIn has the shi-ers- It does not Ike
conditions at all The fact that Presi-
dent Iovett, Of the Union Pacific, and
the attorney for the company are down IN
washington and in conference with the
President. has created a rather urfavoT-
able opinion. Indicating that the leading
men OF the Union Pacific would like to
have the suit against the Union and
Southern dissolved, so that the two old
Hartman Pacifics might enjoy the
friendly arrangement now existing That
Southern Pacific is a competitor Of the
Union Pacific on thr0UEl-tO-the-ccast
freight is the point that is feared, the
point that sticks, in that the combine
ton might be brought under the anti
trust law If the Union and Southern
were forced 10 dissolve under a law
preventing one road from holding stock
in a competing line the matter would
Re easily TemedieG by transfer Of stock
holdings 10 a holding company
Another thing that jars the street
Is the aftermath Of the famous Rock
Island fiuke, promising 10 be much more
costly than expected. and this was per
haps the chief cause for the weakness
at the close yesterday It IS stated that
has been going on most Of today was
largely from houses involved or con
uected with the Rock Island proposition
one rurlor IS that the houses that
executed The orders are likely 10 feel
the heavy hand Of the exchange IN a
short suspension. and many Of their
customers were getting out rather than
70 take chances over the period or pro
hation-yet Undetermined
Other Influences UnfavorabIe-
The railroad strike situation Is not at
an encouraging TO holders Of securities
The break IN cotton neCessitared much
liquidation 10 prepare for margins on
trades in the fluffy commodity
These unfavorabIe influences were
tonic TO the bears and they extended
their short lines materially Many close
observers do not look for much i'm
prOvement until the short line IS more
heavily extended when the covering VIII
bring an advance In a word there
seems 20 be no buying power save from
shorts This condition has been noticed
foP over week The professional bulls
who can not sell, the average room
trader being Included IN this class, VIII
watch the boards. but DO nothing
Wall street has hoped and IS stu
hoping FOR change but there seems 10
be no indication Of any change in the
near future, save IN the widening line
o. shorts
Prices are getting down. slowly and
gradually, and with q little further re-
action there may be some quiet picking
I'D Of shares by investors
There Is nothing IN the HiII Just In
IrOdUced IN the House by Representa-
tive Townsend OF Michigan but what
was embodied in the recommendations
Of the President IN his latest message
Nothing TO cause any uueasiness-
The danger of the market lies in
unloading by pools, tired carrying the
bag, despite the profits But any Seri-
Gus setback 10 the list would probably
develop the support OF = p Morgan
and his following an ever potent fac
tor IN turning conditions his way
Dull; Weak.
There was no change IN the general
tenor OF the market as the session ad-
vRncEd- Copper and Smelling acted
best Ct the iudustrisls. though Steel
rallied after a weak opening, and Lead
sustained the big break In this Group.
In the rails the market averaged =
point decline all around. This being the
average ND 10 practically the last hour
Of the session Union Pacific holding
around 1891, Southern Pacific at 1872.