The Washington times., 1910-01-16
MARKET CONDITIONS
GREATLY BETIERtO
Last Weeks Storm Has
Helped to Discount Pos
Sible Developments

stands on the threshold or new week
slightly disfgured but still in the ring
A little '-grOESyT as the sporting re-
porter would say, badly Jared by the
slump in values day after day for the
last few weeks and especially by the
humping of Friday. sYarrinS for wind
yesterday. and getting the respite by
the wild covering OF shorts over the ad-
ACKNOWLEDGMENT. but depressed, fac
ing the new week with doubt and anx-
iety, for the Street knoweth not what a
week may bring forth
The handwriting on the wall has been
exceedingly plain for some weeks. Il
needed but an Untoward ircident 20
start the ball rolling down hill The
best judges Of market conditions on the
floor Of the Exchange kept continually
harping on one string-'dOn't ignore
profits, better not do much Of any
thing Being interpreted. 1t simply
meant that the market was not to their
liking That the decline was not more
severe was largely due 20 the fact that
the bulls can not turn bears-they can
not change their coats Some OF the
most prominent bulls among room
traders hav We been beariSh on the mar
ket for weeks This analogy Is Wei
understoJ'. on the Street And yet
while intensely bearish this contingent
has not made dollar on the bear
side II am a poor seller is the eX-
cUse-
Uutoward Incident Arrived
The untoward incident arrived and
added its weight 10 the weakness IN
the Rock Island fluke and the making
Of the punishment fit the Offense-
Threats followed and he would have TO
Be on the inside. indeed. who would
say that these threats were all empty
some one sold a lot OF stock last week,
sol dir every day and it wasn't all
short stock at that
But the past Is over. the future iz tie
issue. what Of the week as Il VIII
PASS ou2 A room trader remarked yes
rerday- All commercial agencies re-
mort 1910 as starting out TO be the ban
ueT year OF years. the business year d
The century and the stock market
SluTnps. and slUmps again
II Is a difficult proposition to say Just
how far the big break OF the week has
gone toward relieving the pressure on
the market It Is prOblematiC at best
counted the things that were hanging
over the maTket-tHat are stu over 1T
This IS the question that tn traders
viii have 10 answer for themselves
Union Pacific Officials Anxiety.
The evident anxiety OF the Union Pa
cihc-S0uthern Pacific magnates that the
long alliance between these Two roads
should not be ripped aSundeT- has been
taken by the Street as an Indication
OF how serious such a divorce would
% in the minds Of Judge Dovett and
his associates z H Hartman. in his
dav. would probably have planned some
Uav 10 meet the blow should it de-
scend. bat he would not have gone TO
the President-at least not 10 RCOse-
welt II is probable that Judge -L0vett
and his associates VIII find a way, by
troll TO friendly hands. should necessity
=rise, but the call on the Executive was
cause perhaps IS cause OF uneasi-
EeSs-
The Threat Of the Market.
TIE threat Of the market lies in the
United States Supreme Court and its
decisions in two Cases-TObacCO and
Standard OIL The Street fears such a
drastic Interpretation Of the Sherman
antitrust law that It may handicap
business seriously business conducted
uu the modern basis
Then TOO the temper Of CONGRESS in
view or the fact that all Representa-
uves have 10 meet their fate al the
polls this fan. Is 10 do that which IS
asked Of them by the President, and
Almost anything else that IS recon-
mrnded that viii regulate corpora
tons or railroads They seem to have
but Few friends in the law-making
body
Much Better.
In one way conditions have been vast
y improved a large market following
mas beer eliminated absolutely. A large
-uargined account has been closed out
II the Rock Island aftermath was Z
food Of selling on the bear side. II has
reen Equjdated and absorbed The in
Siders did not take the stock. did nos
stand under the market to any great
extent Financial conditions are vast
-ly better Yesterdays bank statement
was JOY compared with anything that
has been given out by the bankers Of
the city FOR many 4 day The IiQuida-
- ton showed IN various ways. the refiuC-
ton OF loans, increases in reserves etc
and the effect on the money market
should be for good The drop in COT
ION was checked rather quickly to be OF
-leal benefIt in increasing The exports,
but Il must have q great effect IN this
line and lesSeEs the chances Of gold
2oInE out The drop IN wheat must De
another help
The decline has brought the public
AROUND to brokers Offices. ''foOkluc"
asking questions and longing 10 take
q liL- Just the minute the market shows
any disposition to move on upward in
Inc good I'D way
The indifference Of the Standard OIL
crowd 10 the situation IS worthy Of con-
sideratlOu- Controlling great volume OF
rdSh. holding large quantities OF stock
away NOT mas Morgan been aEzres-
S-vc-
Dividends are increasing. earnings are
on larger scale. business outlook is
al that It should be-it is seasOnable
weather ana the stock market today
offers mary Investments better than 4
10 per ccnt-Dlenty 10 net D per cent
There Is a LEVEL
There Is a level when reached. where
there viii be wise. conservative buvin.
VIII begin This country Is all O. X
Ia r@pS- no party dare disrupt the cen
II p
-.-S the life Of labor, OF capital or en-
risl-ihe tire In One-BUSI NESS
intending operators in stocks should
- on me ground and w1tchful. pending
-F SOLUTION of problems now pending
lev commitments should be guarded
AtH bis margins Investments look
ato vet the market may go lower
---ul mere viii come time-unless an
presidents are of no value r-bo.T1 +J,o
I1lly VIII De worth watching.
CURB PRICES FOR THE WEEK.
Net.