Show MARKET L LOOKS LOOIS FOR DECISION ON MONDAY II fly n 11 Ne' Ne York Jan Professional G. traders worked work themselves Into a bear benr panic in Wall Vail street today toda and as mis a aro ro thero there was a 1 buoyant market et in those stocks where a large short interest in 10 terest existed The rails were hl heavy Y l No 0 new bullI buying power of oC importance came camo Into the time street and most of or the tuie business began and ond ended around the time tickers Money went to 10 per cent in the afternoon n but renewals were at 7 Sterling established a new low record for all times at SiG So did I kronen ronen I nt at twenty nine hUnd of or a cent each Francs made a new nc low at l lire at 1 1117 anti and marks at This collapse of tho the foreign exchange maret market markot mar mar- ket kot et was tas a a. direct result of oC tho tITo advance LJ by tho thio federal reserve reser board of or its discount rates This advance postpones tho the possibility of or renewing active trade with Europe Indefinitely Very naturally naturally nat nat- uraH foreign exchange will continue to decline as long lone as this federal re reserve ye- ye serve e barrier harrier remains against international I trade Gold GoM went to shillings shil shil- lings in London a a. new nc high record I Failure of or the supreme court to hand down a decision In the stock dividend i cases would naturally be bo a bear argument ment but the tho bears were frightened and when the announcement was made that no decision would come conic there was wasa wasi a sll slight ht reaction on only I and then a n sharper advance ful The supreme court that on February r y 2 which is next t Monday onda it I I I win Viii until i. i AS S s income tax returns must be filed Clied b by March 1 15 Wall all street is confident that the stock dividend decision will be ron ren dered next Monday Hundreds of oC millions mil mall lions of or dollars of or Income for or Hll 1919 are represented b by stock dividends and In the ab absence of or n a decision recipients do not know knor how to mal make e out their tax returns It If the tho dividends are aro to he le taxed as the law has says in BO so man many words tho they must be the tho public does not know knot whether to turn them In at par at tho market price on the tho day of oC payment or at time the market price nt at at tho the end of or the tIme year ear The subject Is one ono that tho tue supreme court ou ought ht to settle definitely out of or consideration for business men r regardless or of what effect it may have o on the stock Quarterly earnings of the United States state Steel corporation will till bo jo made public after aCter the tho market closes to tomorrow tomorrow to- to in morrow 0 r row ii afternoon ft e rn oo ii Esti I inn t em run from e fl to thirty million dollars dol dol- lars Small earnings arc are expected be because because be- be cause causo the strike was almost entirely In the last quarter of or the year ear But nut even cven at the lowest estimate the time compan company com coin pany pan will probably show a good margin over o dividend requirements unless an Jn extraordinary amount is set act aside for Cor depreciation There Thero arc are man many who be behove believe be- be hove lieve the time Corporation nUl may doc doc-aro a dividend In Liberty bonds or Victory notes leaving heaving Its cash balance large |