Show FINANCIAL i and 1 COMMERCIAL COMMERCIAL Ne Now New York Feb 2 23 boty 3 In lii InWall Wall ul street said sid I told toll you ou so io o toda today but as a a n matter mattor mater of or fact over everybody body was surprised at the time extent of the col- col lapse It I Is doubtful whether Insiders of or tho the Steel trust trw t expected such a 1 severe sere brell break In the price of or their own stock Steel common sold fOe today nt at a n valuation of 8 less than tho the bl high h figures recorded after the election electon This la is moro more mon mony y than titan tho the trust expected to lose loso by cut- cut tine Uns prices There has been a break In Steel of or since la last t Thursday Heading Reading declined ten points In ex- ex n of or an adverse decision bv hy tho the Supreme court on the tho commodity clause of or tho the Hepburn rate rato law w lc New ew York Central lost four points because tho the sugar rebate rebato fine again again- gall t t that com company pan was wa sustained by ly j hu he Supreme court Wall street h has a no notion n.- n. n.- n. Hon tion ton that the Supreme court may arrest arrest arrest ar ar- ar- ar rest all nl the tho corporations for violating tho the law of supply and demand Opinions are worthless under tin tin- circumstances for tor the tho millions of or t holders holder In all aU parts of the world aro are very Justly justy alarmed at the n break and professional proCessional operators a an r attempting to stampede them In Int in sacrificing their stocks The brcak break le f tho the last few rew days as a's has been so re that tho the weakly margined accounts account must bo be pretty thoroughly cleaned up Any further material decline mU mun mUt t como COme from p persons who have paid for Cor or their stocks stock and aM are genuine Investors pid It Is possible that a bear market marl et has been started A declining usually usual follows the tho big rise that comes after a n panic but as a rule rulo stocks hold around hl high h prices much longer than they have held this time This Is the first experience tho the stock market has ha had however with wih the tho gigantic forces that have come Into Wall street with Val tho ho trusts Tho Time Steel has so Unsettled unsettled un un- settled conditions by IW refusing to adapt Itself to the law of ot supply and demand that a condition has been created in trade that which was created In tho the copper trade by the weird efforts of ot Standard Oil forces 01 to hold copper metal at an unnatural level level Those who believe beleve a 0 bear mar mar- hot ket has line been started say sy that the tho pub pub- lie lic tc will wi sell fel every everything thin as soon soomi as W It realizes how it St has been deceived in regard to the alleged return of pros pros- prot- prot Tho Those e who look for a recovery ery er- er of prices price are saying that steel Is cut b by with wih the Independents and that the tho decline Is liable lable to stop au any aimi minute that minute that the tho decline must bo be arrested because there aro are numerous big hiS bond Issues Isue to be floated If I prices go 0 much further Investors are liable lable to IJu buy stocks Instead of ot bonds The sober sODer Judgment of or conservative bankers is that it is a pure gamble at a t the time moment whether stocks s go JO un or down own They say sy that margin t traders should get out of or the marl market et and that persons who own their stocks stock sock s outright should keep I a cool head because because be he- cause cuse It I Is only a question queston of ot waiting a a year or two more for hi higher her prices price s than thamm any that have prevailed lately Within a n few fe days It should be possible e to form an opinion ns as a to whether i it t I is advisable to stand on stock already alread y owned or sell soH with wih the Idea Iden of or buying g It cheaper cheaper Southern Pacific's new bond issue e Is not being being received with wih such good giO it i grace since traders figured out tha t It I furnishes an unlimited supply f r stock for tor comer conversion lon at 1 5 The total number of or shares sold sole t. t to today t- t day was a a year ago ago toda today The rhe par value alue of bonds sold tod today was vas a year Jear ago 3 New vr T Vork ork Curl Curb Stocks Stock James James-A. Pollock Co bankers and brokers 6 West t Second South street their turn furnish Ish private the the- the wIre following received over or I I I High 1 1 Low Lw I Close Am Ani Car F 1 FAm J. J 47 44 15 jOO G Am m Smelting 83 SO So 80 0 Am m mn Locomotive u. I vI LI 49 19 49 Am Am Locomotive 51 l 19 49 49 Am Ain Sugar 1291 S 1 IOCO O 8 mol Amal Copper 71 GS Anacon Copper 4 10 40 10 Atchison 1018 2301 Bait and Ohio IOn 1075 1031 1035 10 1051 Brook Rapid T 70 67 GH 67 00 Cana Canadian lan Pac 1706 1705 17 Ches dies and Ohio 1 S C 61 01 C M l an and St t Paul Paul 1442 In HI Colo Cob Fuel and amid I. I I. I 30 29 9 9 Gas Ga I 1215 H 1191 1911 1203 0 1600 D and Rio lIla Grando Grande HR 40 10 40 Ol Erie 8 t 26 27 7 Great North pfd pd 10 1405 1365 1361 Illinois Cent HI 2810 Louis Loul and amid Nash 17 Missouri Pac M 1 K and Texas 35 Do preferred 73 71 7 71 7 GOO N Y 1 Central 1 1211 11 fOO j jN l N Y Out Ont and Went 45 12 1 oe 46 anil ant ORt 5 sr Sf Sr 7 x NatIOnal i Lead 77 71 7 1 7 73 G Northern Pac t 13 1265 1265 I Gas 1095 1091 Reading 1 8 18 Rock I Island land 3 2 22 22 Do preferred 61 67 68 lS 1000 Rep nep I and S. S 18 lei 16 2300 Southern Halway 24 24 1300 preferred 11 HIl Pacific 1775 U S Steel Steel IH Hi 11 Do preferred 1085 Utah Uth Copper n 40 1731 Wi 1700 Tennessee Coper a 37 37 2000 48 4 j HI 4 00 Money closed at at 2 per cent cont Total otI sales salos shares shan 1 |