OCR Text |
Show PRICES PUSHED DOWN ON WASHINGTON REPORT Wall Street Views With Alarm Announcement . That the Senate May Join in Search 7 ' for the "Money Trust." By Thomas C. Shotwell. By International Sews Service. NRW YOR!C. li-cb. 14. Stocks were stronp: iind fictJvc this afternoon when announcement name from Washington that the senate will probably Join In the seurcb for the money trust. This started scHIii? on nip part of i he professionals. Steel sold ? i a l',Il,t n If' minutes. Other stocks joined the movement and before the close the list had sold down materially from the lilph pi-Icon of the da v. Such had heen the Hrcn?th of the early market mar-ket that the HsL as a whole closed with net pains. r.rKcr?l,-Sft of t,h' ,,flW developments at Washington talk was heard art or the close or a raid on the market to be. attempted at-tempted by professional. The nhort. interest in-terest in tlm market Is alrendv Iarpo, particularly on Steel and Pacific The strong- Interests are buying stocks now on every weak spot, believing that the worst is nearly over, so far as the stock-market stock-market Is concerned. A raid therefore. .tr. lic K"Ccc6Hful. will have to be very brier. Jf it is attempted It will offer bargain bar-gain opportunities fer buyers. No Coal Strike. Bollef Is growing In (he financial district dis-trict that there will be no strike of an-thrnclto an-thrnclto coal miners in Pennsylvania this year. Thin belief is baaed ' partly on the ground that the miners are crcl-tlng crcl-tlng the best wages In the history of'tho industry and that their condition Is being be-ing Improved constantly. A rurtber basis for the heller Is found in the unfortunate unfortu-nate developments following the s Angeles An-geles dynamite outrage. The arrests today to-day of tlilrty-nlgiii more persons charged wuh complicity In this nffalr has put organised labor In nn awkward position and imido it impossible that miv strike could have at this time tho popular sympathy sym-pathy that is always necessary for victory. vic-tory. The United States government proved its fairness today by announcing announc-ing that no evidence'-connects the labor unions officially with the dynamite outrages. out-rages. Far from promoting strikes it is. under- stood that the labor organizations aro working on their congressmen to prevent radical tariff, reform. It has boon demonstrated dem-onstrated to their satisfaction that sharp cuts In tlm tariff will Injure the men moro than It will Injure the companies. The surprising situation Is thus w relented re-lented of the laboring men doing the lobbying that in other times was done by the capitalists. Capital Is perfectly Indifferent for so many enterprises In other countries are calling for money that capital can afford to work elsewhere else-where If conditions at home are not satisfactory. sat-isfactory. Dullness Exaggerated. An authority on steel states that the dullness In the trade Just now Is Just as liable to be exaggerated as was the alleged al-leged boom In steel a month ago. At this season of the year there Is always a lull In several department!? of the trade. Business Is a,s good as could be expected. The trust especially Is not discouraged dis-couraged although Its managers aro prepared pre-pared to face a bad year. Copper shares were strong because of tho constantly crowing consumption of the metal, which Is enabling producers lo hold tho price firm. One phnso of the money trust investigation investi-gation not liked by Wall street Is the, probing of the New York stock exchange which Is provided for. Tn connection with the stock exchange the dcllcato point Is the facl that It Is not Incorporated and j members fear that through this investl- i gallon the organization will prove to be a general partnership. In a goneral partnership part-nership all tlx- members are responsible for tho debts of one another. That is to say, if a Jlrm should fall owing Its customers cus-tomers money, these customers could sue the exchange as a body or the members mem-bers of the order individually and call from the amount of Indebtedness. No suit of this kind ha.s ever been attempted, attempt-ed, but suits exactly on this line have been brought successfully In other departments. de-partments. Such litigation would result in a bitter contest and the fear is not so much of the contest as tho legislation along the same lines. |