The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1910-01-20
MARKET Is ERRATIC BUT BETTER,
WITH SHORT LINE HEAVY
AND UNEASY.

aZain on tender hooks one minute on
the way down and another rallying IN
der the buying orders of the shorts and
of daring investors who have con
ddence in the future Of the railroad and
Industrial business Of the United
States. On the whole, there has been
a fair recovery this morning
That such severe actual and paper
losses should actually occur during a
period Of graf Industrial prosperity,
with business at a record notch and the
industrial corporations operating on
full time. is not at all satisfactorily
suggests that the standard Oil-Morgan
other banking and financial interests Of
this city have understaken an object
lesson in the dangers Of Government
anti-raiIrOad and anti-COrpOratiOn leSis-
laIioE that. while il may have some et-
feet. has killed or many holders Of Sc
curitieS and enabled the bears. who
have had poor picking through the
years 1860 tC fairly revel III rich
profits II indeed, the very interests
that are expected to support the list
have not turned TO make the most OF
the opposition TO their plans by roast
ing he list, burning up the big army
or traileTS that have followed WIN
more or less faith all the way from the
That there is something wrong is evil
6enCed by the awful declines, averaging
over 10 points in the list since the lSJ OF
January, and the net result IS TO bring
down sound investments 20 a 10 per
cent basis
Roc, Island Started It
The Rock Island fuke started the dis
trust, the inexcusabIe weakness in the
Hills gave it impetus, the seEseless
drop in Hooking Coal and Iron yester-
day vas but piIing another weight on
the whole and the structure is trem-
bIinE-nOt quaklnE-
AddA5 10 this condition comes the fear
that the state government may look
into exchange matters once again, in
spired by the Rock Island-HOckiug Coal
and rror-
The authorities Of the exchange have
notified brokers holding disputed Hook
ing Coal ara Iron stock not 10 ratify
trades u.=.He vest eTdaE until the terms of
settleme-l have been arranged by a
COmmittse OF the exchange. This is the
first time since he Northern Pacific cor
ner in aiays = =. that the Stock tx
change 4-gs iULg -Eeued TO arrange set
1lemvn- terms, but the confusion that
has arisen on the collapse Is such that
governors deem IL advisable to inter
Nene-
Banks Call Loans
The declines have Deen largely forced
on the market by reason Of the deter
mination of the banks TO force the
weak pools around the room to close
cut and quit Loans have been called
with far more insiStauce than when
stocks were many points higher and
money growing scarce, whereas il is
now much more plenty. It is feared that
big pool may be caught
The big fellows may have become
tired OF handling the burden and turned
bears themselves. as the selling has been
Fsag1 -
the bear c-iqUe-thin with poor feeding
Tor many d day
There are orders and Tremendous ones
al that At few points under current
prices.
Opening Strong As Usual
The opening this morning was strong
AS usual This is the habit of the
market, 1t has been for some time. Lon
don has always showed the cheerful
spirit under the manipulation Of late
or early rises, on this side of the pond
Then after the opening there was some
little rally, when Roberts, Hall & Criss
went by the board, tired. weary Of tho
night They are going TO investigate
the action OF yeste rday," was the word
sent around Natl ally a crushed firm
viii, directly o. 3 directly have some
thing 10 say @ the Crusher. The
''steam-roIIer-- -, the Chicago conven-
ton Of 1893 Wa nothing 10 the smash
IN Hooking Coal and Iron
Prices then took q tumble. dropping
back considerably below yesterday 3
closing on the leaders sometimes =
point, 10 a good > points on Rock Is
land Union dropped =. Southern
Pacific :, Smelling IL Consolidated
Gas 81 and the list as noted
Bounds and Rebounds
men. all before = O'Clock the list was
on the mend again
It looked very much for a time as If
The bears were after Consolidated Gas.
they jumped on It with botn set. and
they made a deep dent. from AZ 10 1872
but the rebound, in which the friends Of
Gas became busy. started the hears up
70 the ceiling, 14TS4 being reached in the
second hour
They also tried Rock Island, and it
MOOres are not letting the bears fool
with their understandable rebound
being from SIS 70 a. and the bears
went rowing Observation-Disclosures for
=1eener fields And their discontinue
helped the market
The late recovery turned stocks on the
average = 10 5 above the closing fig
uTes Of yesterday
Undertone Improves.
During the first two hours Of the
afternoon the Undertone Of the market
became fTmer. more steady, and grad
ually prices worked a little higher, as
si4Own BY the Ape nded quotations. The
traders found il hard TO make any great
progress in the direction Of higher
prices. because Of constant liquidation
here and there. but they held the bears
II check and the show of strength and
the far-extended line OF shorts. proved
to be the best support Of the list
Anxiety prevails very erneralfv but
with conditions a. good as they are,
any concerted movement on the part of
Standard Oil-AIOTga7 supper TO the list
would give the bears an awful i0itinE
THE CURB MARKET.
Quotations furnished by z F. Hutton