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Show NO RATE DECISION HAS ADVERSE EFFECT James A. Pollock & Co., bankera and brokers, furnish the following, received over their prlvato wire yestorday afternoon: after-noon: Paine, Webber & Co., Boston Market showed a. little strength in tho early dealings duo to short covering In anticipation antici-pation of a decision by tho nupromo court In tho Minnesota rate caao. After announcement an-nouncement was made that .no decision would be handed down prices sagged off and closed at about tho lowest of tho day. Thc United Shoe Machinery gained about five points on favorable decision and closed near tho top. Thero is still hopo of a settlement of tho Balkan difficulties diffi-culties this week, but aside from this wo see nothing to warrant any immediate upward movement. Logan & Bryan, New York Stock market mar-ket displayed a rather firm tono until it bocame known that the supremo court would not today make known its findings in the Minnesota rate case, after which more or leas scattered realizing and selling sell-ing for Ihe fall took place. Tho weak- j ness or Steel was rather pronounced, the same being accompanied by talk of labor difficulties, and then, too, tho Can issues' is-sues' were unsettled, with various rumors of a vogue nature In circulation. It appeared, ap-peared, however, that a good portion of tho short Interest in the stock waB eliminated on ihe recent advance, and, owing lo the fact that the professional element seemed beariahly inclined in so far as tho shares wcro concerned, the same declined easily In the absouco of aggressive support. Thero is little question, ques-tion, however, but thai the company's I demonstrated earning power warrants a substantially higher level for the shares than that which prevailed some months ago but of course the Issuos havG fluctuated fluc-tuated so rapidly within the past few weeks that the course of tho same today should hardly bo taken too seriously. Now that the supreme court has adjourned ad-journed for three weeks, and as the late foreign advices, especially from Parln. denote hopefulness relative to the early adjustment of thc Turko-Balkan affair, and as the Union Pacific dissolution plans arc fast maturing, it would seem that thc incentive to operate for a riso in quoted values will be somewhat more pronounced pro-nounced than Heretofore. |