Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-01-31
WALL STREET MARKET
CONTROLLED BY BEARS
Steel Common Off Two Points-Rails
and Industrials Suffer Severely.
Some Large Losses.

NEW YORK. January 31.-During
the morning hours the stock market
was moderately active, considerably
excited and decidedly lower
The bears were early pounding away
for the advantage, and they encoun-
tered but little objection.
Many stop orders were caught in the
initial trading, point to two-point loss
es being noticed quite generally through
out the list.
1t is believed that the diplomatic re-
lations between the United States and
Germany are strained, and the l1qulda
ton caused by this feeling was fur
Their accentuated by the severe losses
to the railroads if the demands OF the
various brotherhood men are granted
These were the chief influences, and
they were decidedly effective.
High-Grade Shares Suffer.
Immediately following the opening
there was some small profit taking by
shorts, but the effect was little more
than momentary and the market again
started down. extending the declines
from two to six points, with Bethie-
hem Steel making Is points, when II
broke to $50 share.
International Nickel lost points.
Texas Oil points, while to points
The rails were just as weak as the
industrials and high grade shares suf-
fered with the stocks that carry less
real value.
chile Steel stood out as the exception.
the one stock that could actually show
strength in the midst of smashing de-
clines and make rather sensational
rise. Just why or wherefore remains
for later developments. but after
came back. slowly. and then with con-
siderable JUNCTION to rs 1-5.
Steel Common Is Active.
The whole market seemed a little bet
ter after midday, probably on nothing
more substantial than the covering of the
shorts. a line unwieldy and growing.
which could be run in with loss. If the
big men Of the street cared to get back of
the list
mon were not as weak as other indus
trials.
New Haven lost two points and came
back a point st. Paul. Southern Pacific,
Northern Pacific. Great Northern and B.
and o. lost 1a1 u points. Lehigh Valley.
Reading. Union Pacific and New York
Central lost " to points,
Steel common had a rather active time,
opening at IS, " drop, declined to sou
and recovered to S0A.
After midday there were fractional
advances, but toward the end of the
hour and in the second hour of the aft
ernoon the market was just about
where it was at noon.
The bears, just as they have appeared
for several days past, were not espe-
cially nervous over their position and
did not cover with any freedom.
Continuous Activity Indicated.
The sales for four hours of the ses-
sion were $4,000 shares. indicating
continued activity from the opening,
with a material let-up in the last hour.
Little Steel went back to 79h, the
low point of the day, and it looked for
time as if the list might follow. but
a show of strength here and there and
little check to the weakness.
The strong spots were Crucible,
Steel, Baldwin Locomotive
and Mexican Petroleum. the latter on
rumors of a pool buying, and the sec
ond named on the belief that the COM
with Cambria was near at
hand.
Baldwin regained all its loss.
Studebaker opened at a point decline,
huctuated until late in the day. when
1T touched low at 141N.
The rails did not improve, nor did the
majority of the industrials.