Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-03-17
FINANCE AND TRADE
Movement in Stocks Today Showed
Usual Want of Confidence.
GOOD SHOWING OF EARNINGS
tennessee Coal and Iron Declared
a Dividend.
GENERAL MARKET REPORTS
Special Dispatch To The Evening Star.

Special Dispatch r. The Evening Star
NEW YORK. March 1.-THE movement
OF prices in today's stock market reflected
further lack OF confidence in the correct
hess or the rooms position. Short con-
tracts were covered in considerable volume
on the theory that the evils of the hank
statement had probably been discounted
The publication of further details covering
the Third Avenue episode were also con-
strued to mean that some support might he
forced into the situation now that the real
Iacts had been supplied by the receiver.
SUCKS mad refused TO decline materially
uuring the week. and traders were appre-
hensive that an advance might come with
out special warning from a single good de-
Velopment
Rumors of a dividend on Tennessee Coal
and Iron were circulated early in the dsv.
and the later action of the directors in de-
ing. 'i' ON'
The back dividends on the preferred
shareS are to be paid with the peu stool
issue. and the common stock will beraas,or
participate in all the earnings of tho COM
pdily- from the rate declared today /, is
SNiueht that the management feel justified
IN hopihg 10 establish the property Ilpon AZ,
> per cent basis. The revival Of acti,.Jty "
ron Si,a steel has perhaps found no NOR
sisilicaht reflection than Il connactIon
N m1rn the tennessee Coal and Iron Com.
pahy' A few years ago dividends wore not
even predicted for the property ana tbnsa
PROMISED on the preferred shares had moon.
Inulated so as to equal about 70 ner c-,t ~
tiie par value OF that class Of stock The
possibilities of a few prosperous wears in
the iron trade are again emDh . sizad b.. 80.
Va! action in this rehablltated nronertv
In the railroad list there was spnop 80
puyihs by conservative interests the Pa
enc sndres. both common and nrefarrod
Attracting good investment inquiry. This
. .L oI STOCKS should lead any advance
sjt,ot9n, ue penaing' since the weight OF
n.tuat.oh strongly fayors them. The Rur-
hiistoh pool continues to buy IharalI,- "a,
spite OF the official statement thar tba noxt
re- ahd1ng movement is three wears distant
me nelghborlng shares held well in s,n1
pathy with the generally improved tona Is
the investment markets '"ie VI
Inc pank statement was more favor.bt.
IMAM was expected. and its publiratin,, =
suited IN holding prices firm under n ,,trd
ueHahd from the room. The thraa,,,,aj
eitlIiIdtioh OF the surplus reserve was
aNerted ny decrease in the loans az
hrst reduction in many weeks 7,ba r,,a, M
non IN the reserve was about one-haIf ~
amount predicted, leaving the present sI,r
p ,us above legal requirements s21;s,; ~
me total loss In lawful money was 81 s.gs
- ,t iueu between the Express movement
anu the operations at the suhtreastIry
Inc decrease of S15,Un.opO in depoSits IS
ABOUT s5pl.Oo less than the amount re-
CURED 10 balance the statement This lack
ol consistency in the deposits has come TO
be feature of the weekly exhibits Al in
crease of only S62 500 in circulatio, e. -
ported, but treasury figures for tho upeeL,
SHOW something nearer a half million ~
crease IN this form Of currency The new
nnanclat bill has not yet relieved the
sIo.e. MARKERS. but faith in an early re-
doned. ~ ~ a'AA-