The Washington times., 1910-01-24
STOCKS AGAIN ON THE TOBOGGAN,
WITH ONLY VERY LITTLE RAJ
LYING POWER.

NEW YORK, Jan 94-There was dis
appointment in store for the contingent
who expected recovery IN prices 10
the following who looked upon the
prices Of the last week as grinding upon
the bottom Immediately following the
opening this morning, the position or the
market was such that weakness stood
out all over 5t-a weakness that found
not the slightest opposition from the
leaders Of the market OF WnOIn = Eler-
pOut Morgan Is said 10 be the Chief
That these leaders are satisfied Win
the course Of the market is evidenced
beyond the question Of doubt by their
adherence TO the bear cause. ANY sup
port, any evidence OF an attempt on the
part OF the leaders TO check this decline
wogild meet with such a response in the
share OF an advance I'm values that II
would call loudly The Use IN steel
common on Saturday was taken 70 DE-
d Morgan move and the list responder
with the speed Of a real rally but when
It vas discovered that Mr. Morgan ;
1avOTIIe brokers were selling steel com
mon at the advance me rear loIisillp
was so evident that the drop and weak
closing the last few minutes OF the SeS-
sion was Inevita bic
If the biz people, If M Morgan and
his friends had the assurance rom LLle
Administration that they desire the mar
ket would respond just as quickly as
ever, but they have come 10 believe
that the President is really and truly
after the combinations that are amen
able to the Iaw-and they are not as
hopeful as some people are over tHe
prospects Of a favorable decision IN
The matters now before the supreme
Court. Therefore the Ouus of carry
ing a bun market al this time Is not
20 their liking. and therefore they are
not. standing by this market
L may be that the Administration
will he SIR u nv
decision I'm the two cases now pending
IN which event the program now said
10 be scheduled would be greatly amend
ID If not abanConed-but the chances
would seem 10 be against IT, The mar
ket usually discounts both good and
had news II has rad this reputation IN
The days that are gone, II stil has IL
II is likely that the market today IS
diSCOuntinE uufavOra.ble news chat IS
coming Out-uOt the court decision. for
therein there seems to be no leaking
the highest and most honorable body
holds. its secrets well
Serious Declines
The declines I'm the morning hohr were
serious enough Bear interests were
busy before the opening. and many or
ders were executed on the other side
Contrary 10 the usual program. there
were no advances on the immediate
opening Saturdays closing ruled, or
under IT. Then the march downward
started
Copper broke to SzIs. loss Of rs;
Smelling lost "a, Lead IA. Sugar rs,
Car Foundry Is, Rubber Z, Steel common
c7-- and the preferred a point The COM
mon stock opened at s.. broke 20 S4as-
Consolidated Gas was Ia lower
In the rails il was the same story
more aggressive, IN spots St Paul vas
weak al 2is less Reading rs of South
crn Pacific of Is Union Pacific from
1925 Saturdays close. 10 1888 10 1g114-
Great Northern , points lower, Northern
Pacific =. Illinois Central Us, Reading
o1s. Baltimore AM Ohio and ArChisOu
holding better than the rest of the list
The bears kept after the Hawiey
stocks with persistence Chesapeake and
Ohio being their special autiUatHy- They
broke il 10 Sf11. OF - points.
Further Declines.
Furthe- declines were the order Of tina
day as ti,e session advanced, the low
point being reached al Isl Tor South
ern Pacific, 1855 for Union Pacific. IS2Es
for Great Northern, I591z for Reading
SFz for Chesapeake and Ohio. ol-a for
Copper. and S41s for Steel common
ProporriOrate declines were noted else
where throughout the list The lower
figures inspired some covering here and
there and advances Of a ~ L point fol
lowed uUr the market remained on
tender hOokg-