Show STEP BACKWARD BACK WARD WARDIN IN WALL STREET Wavering of Confidence on the Part of the Advance Leaders ders BEARS HAMMERING PRICES ADVERSE EFFECT OF SUPREME t COURT REBATE DECISION New York March 16 The professional element in the stock market was alert for Indications of reactions in prices es today They based their opinion of the market marketon on the extent to which the rise ris had al already already already ready run the Inducement to holders on this account to sell and realize profits l and the admitted narrow participation attract attracted ed into the speculation from Crom the outside public The conduct of ot o the speculation for ome time past bas baa relied on an ultimate awakening of widespread Interest In stocks to afford a medium for taking the accumulation that had bad been going on off orf the hands of holders hold rs The revelations of ot ofa ota ofa a wavering of confidence on the part of leaders of ot the advancing movement con can confirmed confirmed firmed d the confidence of nj Q the he bears In n working for reaction They sold with In Increasing increasing creasing aggressiveness and offered prices down to take the market away awa from those attempting to realize New developments had little reflection In ip the market Some confidence was add added added ed to the side of oC the reaction action re by the news r of ot the United States supreme court de dc decision decision r r In the Armour packing house cases The confirmation of the powers for con control rot rol of railroad rates granted by b the Elk ElkIns Ins ms law was felt to be of serious import to in railroad companies The passing of ot the dividend on Crucible Steel preferred was a minor Influence against the market Rail Ran Railroad Railroad road traffic officials did not express full in the views prevalent last week In the stock market of ot the Improve Improvement Improvement Improvement ment In li II business conditions which has hasset hasset set li ii although reporting some slight growth of oC traffic A heavy hea movement of ot soft oCt coal was attributed however to pre preparation par lor br a possible strike in that in industry Industry Foreign markets were not disposed to follow eagerly the initiative setback by byall Wall all street last week The investment situation broad abroad as well as aR here is not I Iet vet et satisfactory to those looking to enlist capital The London market reflects in spite of growing accumulation of oC bank banking bankIng bankIng ing reserves r discouragement over oer the vol volume volume ume lime of new issues Issue The reserve accumulation there as well as here is traceable ble Ne to decline in trade activity and Is an ane e 0 ement in the abstention of foreign mar markets markets markets from many recall of oC the enormous sums su shipped to this country to tide us S over oer our crisis last fall The excess value of our ou February exports reached compared with in the same sam month last year but the falling off of nearly In value of our ur Imports Import Is the vital factor In this showing and is conclusive C testimony to commercial con contraction contraction traction Speculative sentiment was es especially especially impressed by the pressure to real realize i tie ize ze profits pr In Amalgamated Copper in spite s of another rise in lathe the metal here and andIn II In tn n This realizing In Amalgamated Amalgamate 1 ed e Copper was w sa a prime factor in the marked weakness i of oC the late market and which continued up to the closing Bonds weer firm fihn l Total sale par value val vat ue nd u J United States bonds were weYe unchanged on call calls calli |