The Washington times., 1911-03-26
BY JOHN GRANT DATER.
Special Financial ReRresentatixe Of the Munse

I cislon of the Commerce Commission ir
me matter of preferential rates on Goa
manifestation Of hostility toward the
carriers by the commission.
Ihat speculation is held down to q
! minimum is due, unquestionably, tc
Such general restraints as are imposed
oy the impending decisions in the two
great trust cases before the Supreme
Court. the extra session Of Congress-
with the possibility of some tariff re.
vision beyond the enactment of the
reIproclty measure, and the natural de-
sire or all men to await the outcome OF
these and other questions, that they
may determine their influence on gen
eral industry. With such problems as
these in the market 1t is idle TO look for
! aside from that. very little as yet is
tions.
Brokers in Critical Mood.
The restraining influences of the in
dustrial trust cases were forced more
directly upon Wall Streets consldera-
ton during the week probably than for
some time past. In some way, as noted
last week, a very widely circulated ru-
NOR was current that the decisions
would assuredly be handed down on
Monday. Wall Street, in consequence,
saw a largely increased number of GUS
toners in brokers' offices on the fore
noon of that day. But they only lin
ment printed on the tape. No further
decisions today" then they departed.
When 1t became generally known that
the Supreme Court had taken a two
weeks adjournment without handing
down its momentous decision a feeling
of depression spread throughout the en-
tire financial district.
Brokers realized that there were at
least two weeks more of uncertainty
and a disposition to do nothing during
the interval became an obscession.
Thereafter one heard them discussing
new low record days and the duration
Of former periods OF stagnation, and en-
gaging in arguments of why the public
lie will not respond to Wall Streets al
lurements is really becoming a favorite
topic with brokers everywhere. and one
hears the governors OF the Stock Ex-
change bitterly criticised for some fam
cied part they have played in the matter
by not preventing the Columbus and
Hooking Coal and Iron episode, and nu-
merous other things which, II is held,
have had bad effect on the public.
Hard Luck Stories.
One hears a great deal of actual suf-
fering among the Wall Street element
these days, for the interval Of dullness
has been unusually protracted and its
effects have been unusually severe. It
Is quite natural perhaps. with practical
" no orders to execute, that brokers
should discuss their woes with one an
other. In consequence YOU are repeat
edIy hearing stories OF how this wire
house. which has to pay sl.10O to oper
its doors in the morning." executed only
one order for 100 Pennsylvania, receiving
a total commission Of q. Is, and
how Blanks number onlv went up once
during the day, Blank being the floor
member of a leading house and his
number" indicating a call from his Of
flee to execute an order.
Brokers' expenses are going on de-
spite the fact that few, If any, commits
sions are coming in. and the profession
al traders who, as a rule, are an I'M
proving lot are. in many instances. feel
ing an actual pinch OF poverty. Many
houses which did not retrench at the
first OF the year are doing so now. 1t
is all very hard upon the brokers. but