davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
NEW ORLEANS.

NEW ORLEANS. February 19.-Spot
cotton quiet. 5-16 lower, sales on the
spot, $40 bales; to arrive, LILO; hedseo
cotton, zoo
The cotton future market opened with
a. VIDE stump this morning, the more &C.
i've months standing % to 81 points I'M
DER yesterdays Closing. The break was
In sympathy with the wide and unexpect-
ed decline in the Llve4 poll ma. ket. G. eat
Confusion surrounded the o.enng anu
prokeis Struggled hard To fill The g. eat
volume OF selling orders pouring in.
OUTSIDE interests were unable to account
Tor the stump and they sold out as soon
as the market opened. The situation was
complicated by the fact that the mar
ket is facing a TRIPLE holiday. This in
creased the desire IF long traders to even
up. In the trading immed iatey fl 10 wtu.:
the opening there was a moderate re
covery, amounting to five or six points
on some months, on profit-taking by
shorts, but the market did not have q
good tone.
market said prices had given away I'M
der heavy American selling and dis p
po.ntment over the poor she wing of the
weekend statistics.
During the last hour of trading the
market had a steadier feeling on heavy
buying by profit realizing shorts and
prices did somewhat Bette. The cl sing
was steady at net decline of 81 to 50
points on the old crops and 20 points on
Octo Der. This was to . points up from
the bottom on the old crops and ints
ur on October. Later cable messages
from the Liverpool market said that the
break there was due to the selling Of
about $4,000 bales of futures by three
closed steady. Closing BIDS: February
1875. nominal; March. 14.11: May, 14.29;
July. 14.3S: August, 1858: September.
1885; October. Il 40; December, 1922.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
The World of Finance and Trade
Washington; New York; London.
COTTON MARKETS.
NEW YORK.

NEW YORK, February 19.-There was
very severe break in the cotton mar
ket today, as a result of very much
such panicky liquidation as that which
marked Inc decline of last month. Sell
ing began in Liverpool before the OPEN
ing of American markets, and conttn-
ued here throughout the entire morn
Ing, with prices raIlying only 10 or L.
points in the late trauing as result of
covering for over the mondays. The
market closed steady in tone. but at
net loss or lSaoo points The opening
was weak, at decline of 1pa.,5 points,
IN response to the UNEXPECTED anu S1n-
Sational break In the Engnsn market
Private cables were unanimous in at
trIbutlng the declne tnerc to heavy
American selling, and one OF the caDles
estimated II at fully 12o,0UU bales. Inc
opening decline mere vas Sumcient to
eaten Stop-luss oruers. aud while there
was rally of ID or II points toward
the end or the first hour, a renewal OF
prices to the lowest Level of the day iate
In the forenoon, when May contracts
sold at l4.4 and July at 1881. or 40
to Al points net lower on the active
months. New crop positions broke IRON
~ TO ~ points from last nights finals,
but attI acted comparatively little aIten-
tlon, as the excitement was all conferred
In OLD crop deliveries and the evident
liquidation OF la &c long lines Wnicn
were believed to nave been partly carried
o'r the break of last January and partly
accumulated since tue Tune wnen May
sold at l5.oU In the New York Market
last month. The big houses, with soutn-
erh anu western connections, were among
tie most important sellers, WHINE Inc
demand came partly from spot houses
out was peneved TO be chiefly In the way
OF covering. Ihcle was noInIng IN the
morning news from spot or manutac-
turing circles to explain the decline, and
the various rumorS circulating, including
one oil political oluiculties in India. Nc.
100 vague TO attract mucn attention
Both tie New YORK and New orleans
markets will be closed Monday and Tues
day.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
FEARS BANK TRUST
More Alarming Than Politics
to Business World.
ITS ENMITY SPELLS RUIN
No Industrial Interest Dares Defy
the Money Combine.
WISDOM OF WALL STREET
Stock Traders Not so All-Seeing as
Public Sometimes Imagines.
Recovery of Prices.
WISDOM OF WALL STREET
BY w. G.. Nicholas.

Special Correspondence Of The Star.
NEW YORK. February 10, 1910.
The ticker proclaims that the country is
safe again for the moment. This is matter
for reorganization. Until the stock exchange
came to a decision on this point there
was great trepidation among many we'll
meaning people who are influenced large
ly by the fluctuations In prices of stocks
and bonds. They are obsessed with the
idea that all business wisdom and fore
sight Is lodged on the stock exchange.
and that the big plungers who figure in
the speculative world are gifted with
prescience. and in some mysterious man
ner have advance knowledge of what is
going to happen of Importance In the
financial and commercial arena.
AS a matter of fact the big people in
Wall street are very much like the rest
of mankind and are generally governed
by self-interest. Their affairs being OF
very great Importance and in such shape
that they have to keep close watch of
them, their ears become possibly more
keenly attuned to current phenomena and
their judgment more accurately trained to
weigh the significance of events IMAM the
ank and file of their fellow-men, but
that Is all. They are subject to panicky
fits and to periods of vacillaton. just the
same as people of less consequence.
For the last several months they have
been possessed of the notion thai the poll
tics of the country were threatening the
stability of business affairs and in some
way jeopardizing the safety of invest.
ments. In vain did the President and
leaders of the dominant party at Wash
ington hand out reaSsurlng bulletins.
The impression gained ground that WASH
ington was dete. mined to run amuck and
keep things stirred up in manner in
jurIous to 1.-The interests and what that
phrase represents. This feeling would
not be quieted, and as the stock market
receded there ensued continuous fresh
liquidation and the topping over of pyra-
mids. Paper profits vanished. and sea-
son of unrest ensued which has not yet
given place to that repose of mind which
IS necessary to completely restore conf
dence.
Nevertheless. sentiment is improving and
confidence is returning. This is evidenced
by an increased volume of general buy
ing and a restored sense of safety in
various quarters which have more or less
influence in the shaping OF Wall street
deStinieS.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
The Metals Market.

NEW YORK, February 19.-No change
was reported in metals, prices being prac-
tically nominal. as is usual at the end
Of the week. Local dealers quote lake
copper at 13.621sa13.S7k; electrolytic at
I.371aa13 621s, and casting at 13.12l2a
L3.371a. Tin was easy at 80. 1Oa333O: lead
dull. 4.5Oa4.6 spelter dull, 5.45a5.6o; iron
unchanged.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
New York Cattle.

NEW YORK. February l9.-Beeves-
Receipts, 1,2sO. Nothing doing. feeling
firm Dressed beef slow at s TO 1Ose. Ex-
ports. 2s7 cattle and AGA quarters of
beef.
CaIyes-Receipts. 3S3. Nothing doing
Dressed calves, steady: city dressed veaIs,
IL TO 161xc: country dressed. Q to lite;
dressed barnysrd and fed calves. S to
l"ixc.
Sheep and iainbs-Receipts, 2,2s9. Moth
Ilg doing; feeling steady.
HoSs-Receipts 2.523. None for sale on
dive weight. Feeling firm.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Manchester Cloth Market.

MANCHESTER. February 19.-Only a
small business was done in the cloth
market during the week The transac-
tons We're principally in light goods for
China and India and standard makes
for South America, at about unchanged
rates. the majority OF the offers coming
forward being too low for manufacturers
to accept with raw cotton at the present
prices.
Yarns were dull with retail INQUIRY
at Lied decline. Spinners find 1t difficuit
to dispose OF the curtailed output
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
New York Mining Stocks.
NEW YORK. February 10.
IMPORTS AND EXPORTS.

NEW YORK, February 19.-Imports Of
merchandise and dry goods at the port
OF New York for the week ending Feb
ruary IL were valued at $17,67O, 1888.
Imports of specie for the port of New
York for the week ending today were
S51, 901 silver and S36,175 gold
Exports of specie from the port of
New York for the week ending today
were. $l,o46.3o4 silver and S525, 200 gold.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Small Drop in Hog Prices.

CHICAGO, February 19.-Prices for live
hogs fell from &c to Zoe at the stock
- today. the top notch being S937Lz a
hundredweight, still exceeding any figures
paid in the open market for hogs since
1870. when the $40 hog was recorded. The
receipts OF the animals at the stock
yards today were about 5000 more than
d year ago. which contributed to the de-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
New York Fruit Market.

NEW YORK, February 19.-Evaporated
apples are dull. with poor demand. but
prices are unchanged. On the spot fancy
5 uuoted at. 1Olsa11; choice. 9a91s; prime,
6sta7; common to fair. SASS. Prunes are
quiet, with prices steady: quotations
range from os4a9A for CALIFORNIA;, up to
YOa4Os and 6a9 for oranges. Apricots
are quiet, but stocks ere small and pricas
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
New York Dry Goods.

NEW YORK, February 19-The dry
goods markets were steady for the day.
About $1,000 pieces of satines have been
Sold to the manufacturing trades Some
business has also been done on 325-yard
drills and osnaburgs. The jobbers were
sairly busy. Linens are in active demand
for spot shipment. Burlaps are quiet
and slightly easier abroad.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Specification Of Money Trust.

But really and truly there is another
cause for the crystallized tlmidlty of the
stock market as shown in the declining
prices which set in away last fail ana
continued with only slight Interruptions
until very few days aGo-a cause more
important than ponlcai unrest OF any :
lnlns eise winch mas happened Or Is likely
20 happen In the near lulure. Ihal cdusc
AZ tne soiidliicatlon OF the breat inoneJ
trust, Wnlcn noIus III It's hands the poweI
- rum any man or any business cofnoi-
.idtlop Ill the country
by Its conIroi OF nearly all of the lead
ms BANKS, trust COMPANIES and INSURANCE
companies In this part of the world IL
has Insiue and exact knowledge OIL the
weak points OF every important business
enterprise having headquarters III New
ork 1t is not necessary for the tlrty
Or sixty men In charge or this al!-poWer-
.ui machinery to meet and conspire TO
10 things or not do Things. There is an
unwIitten and an unSljoken understand
.nS among the men who compose the 81
,antc combination which is quite as eff
,ectlve as though every move We're d.
Ioc,ed by enactment and written order.
II is learned that some bank or institu-
ton Is discriminating IN its loans against
thlS or that interest and immediately
other affiliated institutions fall in inc ana
DO likewise. The interest marked for
discipline or pruning might just as well
be placarded on the street corners, for
the facts ere long become known all
through the financial section. 1t is not
required that particulars be given. 1t is
enough to know that some member Of the
com bination for reasons sufficient unto
Itself has turned against a concern or
an Individual 1t is not for the others 10
inquire why.
\ case of minor consequence which
came TO light d day or two ago illustrates
the far-reaching ramifications of the COM
Dine 1t 50 happened that partner in a
concern brought suit re-
Gently against big insurance company,
which angered the president thereof. This
concern was a considerable borrower of
money. Soon after the legal action re-
ferred to was brought the concern began
to experience difficulty in making re-
newals, and before long this bank and
that bank let 1t be known that accommo-
dations would be denied because of a fear
of giving offense to the great insurance
magnate.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Big Men Most Noisy.

It is the big men in the money trust
who have been most energetic and noisy
in telling The public that Washington is
to blame for fomenting distrust and fear
BY getting people to look that way they
hope to create diversion. under cover of
which they may escape blame themselves.
There is deep and growing feeling
that in the summing up of causes for
the pending uncertainties the menace of
the money trust would take precedence
of all others, and the blame will be found
to rest primarily In that quarter. ! have
sion of this feature of the situation be-
cause / believe it to be of greater i'm
portance than any Ling else at this enc
ture. and that right there is to be fo,.
chief responsibility for the setback which
is complained of in the business world.
More than the talk Of political harass-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
NEW YORK. February 10.

Miss Nellie j. Coates Of Sparrowsyille.
Ga, and Thomas Grady Of State Mills.
Va, runaway couple, went to Hagers-
town. Md. procured a license and were
married by Rev. S. w. Owens of st.
Johns Lutheran Church.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Magnate Did Nothing.

The magnate in question did not have
to say a word or lift hand against
the concern. 1t was enough for the
banking element to know that he was
displeased because of the litigation.
The bankers within his sphere of in
fuence took 1t for granted that they
would not incur the great mans oispleas-
ure by refusing to lend money to the
people who had given ofense. In this
particular case the threatened outcome is
freeze-out and possible bankruptcy
removed from the great Wall street CEN
ter. but it goes to show the power for
damage which is vested in the hands Of
the money combination.
What could be done in that instance can
be done in thousands and tens of thou
this is true breeds general sense of
apprehension in the business community.
1t serves to check enterprise an. to
induce prudent people to shorten SAL and
to keep close to shore. 1t is almost
as though business interests were con-
fronted with, foreknowledge of panic
to feel that they are under the espionage
and in the absolute grip of a vast and
powerful money trust, able to throttle,
and possibly governed by caprice sell
fish and interestel motives in the treat
ment of clients.
For this reason the persistent speech
making of men LIE eX-Secretary Leslie
NJ Shaw and others against the organ
ization of a central bank is attracting
a great deal of attention at this time
Mr. Saw and others of his faith and
opinions have been very OutSpOken in
sounding the note of alarm. and what
they have been saying directs attention
the combination or money trust now in
operation.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
SEE MARKET PERIL
Traders Cautious About Fol-
lowing Recent Advance.
ANOTHER SLUMP is LIKELY
Some Observers Doubt If Low Level
Was Reached.
GENERAL OUTLOOK IS GOOD
Nothing in Business Situation to
Warrant Prolonged Stock
List Depression.
GENERAL OUTLOOK IS GOOD

Special Dispatch to The Star.
NEW YORK, February l9--Pflces OF
stocks at the close of business today
were so highly irregular as to leave 1t
more or less open to question whether
The general market had advanced or de-
lined. Declines In general were more
numerous than advances, but advances
were made In so many specific issues that
1t could best be said, perhaps. that the
market left off at about an even balance
II held strongly throughout the day
until the last half hour of business, when
il receded rather sharply.
Reading stock, which has been the
feature of the rise of late, fell over two
points. The steel common shares, the
leader among the industrials, closed I'M
hanged. Union PACING was off liz points,
II. Paul, Ia and SO on. But the selling
that occurred probab represented no
more tnan the usual vo. ume of eno-oI-the-
week profit taking. The oplniOn common
ly expressed by the heaas of commission
houses was that the quantity of public
buying in the market was Likely to be
Increased ii prices fell TO a somewhat
lower level and that the genera run OIL
customers of these houses seemed I'M
willing 10 follow with any eagerneSs
Slich a continued rise in the make a.
has gone on in the last two weeks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
BANK STATEMENT.
NEW YORK. February 10 oday's
statement of the associated banks fol-
The Financier will say:

The Financier will say:
The known operations of the New York
banks last week indicated a gain in cash
of at least $4.0Oo,OOO. but the S atement
of actual conditions issued by the clear
ing house institutions Saturday revealed
a decrease of about $4,000 in cash hold
ings. This. accompanied by an incre ase
of $1S.44S,OOO in loans. and a correspond
ing expansion of SIT 1890 in deposits,
brought the reserve down $5,0s9.575. the
present surplus standing at $l4.Ol7.6J0
The statement. based on averages issued
Saturday, simply reflected movements
shown in the previous weeks actual
statement, and the surplus reserve. fig
ured on averages. stands at $25 $50, 30
The circulation of the national banks
of the clearing house is decreasing reeu-
larly, and is now under 5O.O0O0OO, the
smallest total reported for a long time
past. The summary of state banks and
trust companies In Greater New York
not reporting to the New York clearing
house showed very inconsequential
changes. the chief of which was 4 de-
crease of about one and two-thirds mill
lions in cash.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Earnings Of Steel Trust.

Steel trust q earnings for the current
quarter-January, February and March
are expected to be between St3,00ocOO and
$4J, 100000 There is some iet-down In
the volume of activity in iron and steel
and a scaling in prices of quite variety
of products. The aggregate of business IS,
nevertheless, very large. and In the main
may be described as satisfactory. II Is
much better than much of the talk heard
would lead one to expect. The big cor
poration has orders booked for SIX months.
ahead, and the same is true OF most OF
th3 Independent companies.
The money market conditions are DIS
tinctly in favor of the borrowers Six
month money can be borrowed in guam
titles at per cent, and year arrange
ments can be made on basis OF Az per
cent. This situation cannot be regarded
as entirely a good sign from business
standpoint. 1t would seem to argue a
prevalent belief in banking circles that
this is not going to be- a boom year.
AS promised the stock exchange author
tiles made a scapegoat Of H. S. Hask MS,
the floor member of the firm that organ
lied the pool in Hooking Coal and Iron.
In the state of popular feeling against the
stock exchange for its chronic indifference
to the interests of the public 1t was neces-
sary for the governing body to make
sacr:f flee of somebody, and Mr.. Haskins
happened to be the most available man
to nail to the cross. Against his personal
character not a word has been said. or
can be said, but he happened to get IN
front of the gun when 1t went of.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20
Cotton Break Gratifying.

Beyond the weekly bank statement the
only development of financial interest
was gratifying break in cotton futures
under heavy speculative liquidation, ano
the disclosure of a weaker tendency in
London because of more or less vivid
uncertainty that has arisen there as to
matters OF English politics. a large ano
permanent decline IN the prices OF cotton
and wheat as wei. would undoubtedly
exercise permanently favorable InT1u-
ence upon the general financial SITUATION
but the fall here thus far has large y
confined itself to the speculation options
and the price of cash cotton and wheat
remains substantially unchanged. The
wheat market today was higher.
The weekly bank statement was again
notable for the divergence shown between
the average and actual figures of the
return. the average figures reported an
increase in oanS or 1901 10. which, with
an increase in cash Of slightly less than
s2,OOu,UVO. caused an increase of 81, JU7 .ls1
in the bank surplus. In the actual ng-
ures loans increased $1s.44s.v,0. and cash
decreased $4,000 Therefore. the actual
cash reserve decreased SJ,US9,515. The
difference in the figures was attributed.
II often is. TO the influence of "syndi-
cate operations toward the close of the
week. These might very well have been
the borrowings 10 make an installment
payment upon the Chicago and Great
Western reorganization plan.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20

Bar silver steady, "a lid per ounce.
Money, lala per cent a..
The rate Of discount in the open market Tor
short bills is 2ha2 3.l6 per cent
The rate of discount In the open market TOT
three month bills is 2lsa2 3-16 per cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-20

ment and of deeper portent is the grow
ing consciousness of the vital danger
OF the great tyranny which has been
formed by a small group of ambitious
financiers.
Less is heard of the forthcoming de-
cisions of the Supreme Court in the
tobacco and Standard Oil cases. That is
because there is no certainty that either
opinion will be handed down before next
October. Argument in the Standard OIL
case will be heard next month. and 1t $
barely possible that the tobacco decision
may be rendered before the May adjourn
ment, although as both cases have strik-
ing points of similarity they may botn
come down together. In that event next
fall will be as early as they can be looked
for. The scare talk INDUCED in over these
two cases did Iusty service as clubs to
beat down the stock market 1t Is now
realized that the scare thrown into the
market on that account was premature
and those who were most active In the
campa gn hereabouts are turning quiet
They feel that by drawing back in their
shells and letting people forget about the
neer another scare later on when another
break in prices is needed.
The sharp advance in Reading was one
of the features of the week. From the
inside range of ten days ago the stock
was marked up nearly ten points, making
a rise of almost five onts In one day.
The explanation of the sudden squirt In
Reading Is found Ill the fact that the
stock was oversold. The floating supply
of this speciality is small and the short
sellers had trouble i'll borrowing the GER
tificates TO fill contracts. Advantage was
taken of this condition TO run little
squeeze. The stock almost cornered it
SELF as the saying is. A very little Inn
petus was needed to start the shorts bid
ding against themselves.