Show j I V j I 1 SIR SITUATION V IS I I i I 1 14 RATHER MIXED I I 11 k t World of Finance Has Both to tot V Good and Bad Reports t i t 1 i Work Upon Vr 4 V BAD WEEK IN WALL STREET 1 d 1 V IDLE CARS ACCUMULATING ON ONI I THE SIDETRACKS V VT V VV V V I i ew YorK Jan It The speculative r r I r markets V VV V last lat week showed a good so deal del of o ofa a hesitation in the attempted appraisement 1 V of the fictor going to shape the future I r I The true tr reading reding of or the te opinions opInion seeking through the medium of the I expression th t r j V stock market operations was obscured by bythe byI I w bre I V the complications of the tM technical ti d na nation tion tte of the market in which a considerable V stort ton Interest te has baa ha been built bul up In the I weeks reaction course of ot the previous I interest uneasy and anxious to toV This wa was W i V take profits by buying to cover Occa Ocea Occasional V I ional periods of strength which were V shown were pros attributed largely larget to t this thi fac factor lc lct and short Interest tor t r of the uncovered an V V tIle the demand lacked the appearance of ag aggressiveness An element Element of misgiving r over oer the future A course urse of values evidently remained In force tor In the speculation but I special stocks were strong on the th strength t of f Individual factors factor and an proved a sus mis sustaining t taming influence on the whole list Botn Good and a d Bad Reports of general genel conditions showed showe enough mixture of ot the th good and an the un unfavorable une go e 4 favorable to account fairly for the mixed uncertain tone tOI of or the thc speculation in trade The cbs progress of the expansion Vt t and r Industry was s regarded re re on o the whole as disappointing This reeling feeling feUn radiated V primarily from tro the great gt steel ste industries and the railroads the backwardness In Inthe inV 4 Ute the one case being treble to that in inthe Ini inthe ant V the other The railroads feel fel the effect effet i I te of the earl movement ent of the great get staple i V V agricultural o crops which gave the early crops Je V of or quick revival to t their V na fig fe but b t which leaves me litter inter volume I I Of traffic without its Is customary proportion liOn tion of this to maintain the i showing t The movement of or coal also als Is I II Tle 1 I reported as slow in consonance with wih tie the th tieI V revival I j halt In the industrial t i t f More Idle Freight Cars CarsI I 1 I 1 Ii t Hone Hence the renewed accumulation of sur surplus surplus fl plus Idle freight cars car which ha has proved prove V V i 1 I a discouragement The T he effect Is to hold holdback V V t back bak railroad orders for new equipment 1 j and thus spread the Influence of or the tle V I chock check chok through h the ramifications of the ther thet t r 14 steel trade trade Except in special lines Juice of or fin finished finci fn ci 1 J k material matral the demand for steel stel prod products Is called cle disappointing and some t doubts are raised of the wisdom of the 1 i n S doubt rates rte of ot production of pig iron Iron which Is p r i kept up lp Parallel conditions pg are arc found hi In hithe I r the copper trade where whee the accumulation c n of Df stocks stacks copp while production is 1 maintained n at a high h rate rte promises pro difficulty in hold holdIng h ld V log Ing In prices V V f 1 Th The far projects In the railroad V world which were attributed at one time timeto J V furnished another top topic t k to H E H top V 1 I ic te for the thc skeptical to dwell upon and thus I raised apprehensions In the t minds of o pro pre previous pre V Ious clous speculative buyers buer of stocks 1 V V V European Politics j 1 The course courI of o merits events abroad had fur materials for Interested conjecture 4 f V V V by all al financial Interests Turkeys ac BC acceptance r of the Austrian A Indemnity for forthe or ort t 1 the annexation of Bosnia and Herzegovina t vina was regarded with great Iret satisfaction i i i lion tion ton It U Is believed that the Issue Isue of the I j Russian Ruman loan In Paris this week wk will wn help of the Bank of ofF i i I to enlighten the motives ti 5 i F Franco France for its Is unprecedented accumulation j L i tion ton of gold If I this thi policy shall persist prist en 4 a after the flotation of this loan it is feared fere V t k i that grave uneasiness will wi be b caused cause from VV 1 V V the inference that future political trou troubles troubles V j bles bies are provided provide against by this policy polky poley n i The rise In the discount rate rte 4 from the Bank of England last week was wasi i 3 I an expression expresion of or protest against the course coure I of the French bank and not at all al a re reflection re rei reV V i of any direct demand for funds J In tho English Engl h capital Gold Colt continued to togo tor tol r 1 l go out from New York as an Indirect re re sult of the situation abroad abrue d and also alo It ItIs I itis Is Inferred from a redundant condition of at atur our ur own currency 1 t V Redemption of Bank Notes Current Curent redemption of bank notes note by the United Unie States State treasury on an enormous enor us scale scle Is 18 a measure of the pressure toward towar retirement from circulation of or thees thes In Instruments I inV instruments V The gold old exports export the new call cal upon national banks for tor return of ot otOO OO of government deposits the tle ac accumulation ao acV accumulation of or cash by the New York V Trust companies In preparation for addi additional V V tonal reserve requirements and the large larg flotation of new now bond hond issues lale which ron con on In New York have hae made rte no n Impression Imp V V sion slon on the New Now York money mOle market which continued to relax through the I week |