Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-03-09
Opening Influenced by Lon
don Bank Reduction.
READING ABSORPTION
MANY OF THE LEADERS WERE
CARRIED UP A POINT OR MORE.
Confidence Marked Operations on Long
Side of Market - Check Caused
Halt-Sugar Drive.

NEW YORK. March s.-Reductions In the
Bank of England discount rate contributed
the stock market here today and the heavy
an inspiriting influence to the opening In
absorption of Reading continued. The
consequence was a strong and ANNA led
opening. Reading rose an extreme * on
running sales of 1900 shares. Union Pa
cific was carried up "A point on $500 shares,
and Atchison much on over l0,Gto shares.
Advances of / to 1S were shown by At
lantic Coast Line. Kansas and Texas pre-
ferred and Minneapolis. ST. Paul and Sault
Ste. Marie. Canadian Pacific and Consoli-
dated Gas rose and Anaconda Az. There
were large fractional gains for New York
Central Norfolk and Western. United
states Rubber preferred and Metropolitan
Street railway
Operations on the long side of the market
were conducted with more confidence. Deal
lngs converged on Reading. Pennsylvania
Union PacIiic, Atchison and Amalg amated
Copper, and their advance had a tonic
effect on allied properties New York Cen
tral moved up rapidly. Reading 1uctuated
feverishly between 9Sa. and 991s
The principal gains of the first hour were
New York Central IA Union Pacific and
Southern Pacific rs, and ST. Paul the Atch-
isons. Northwestern Pennsylvania. ANAL
gamated Copper. the Smelling stocks. Fed
eral Mining preferred, Colorado Fuel. Vir-
glnla-Caro!lna Chemical and l.. S. Reduc-
tlon and Refining preferred l to ~
Reading moved up to 99A, while the gen
eral movement halted ard turned backward
a fraction. The market became dun With
the check.
Additional stocks to rise 1 to IL were
Louisville and Nashville. St. LOUIS South
western preferred. St Paul preferred Col
orado and Southern preferred, Pacific Mail,
Bag, Pipe United States Rubber, Wooden,
Detroit United Railways and United States
reduction. United States Reduction pre-
1erred gained 312 and Peoples Eastern and
Fort Worth and Denver City p The Malt
ing stocks lost l. Bonds were firm at noon.
A bear drive against Sugar commenced
at noon and it was driven down to 143 a
loss OF IA. Its precpitate fall weakened
the market, New York Central reacting a
point and Reading losing all of it's rise
Recessions elsewhere were moderate in
the more important stocks. New York,
Chicago and St Louis fell off and Lack
awanna and Lead /. Eager buying of
Smelling, which rose above 9S, turned the
trend of prices upward at l o'clock. ANAL
gamated got up to 80 Peoria and East
ern extended its gain to points Sloss- Shelf
| field Steel advanced 3. Chicago Terminal
preferred pa. and the Hooking Valley
stocks. Locomotive preferred and Corn
| Products preferred 1 to TX.
While there was a gradual improvement
in values of the railroad list during the
afternoon the more important movement
was in the induStrials and specialities.
Metal stocks were bid for energetically'
and made material advances apart from
United States Steel which hung back and
was very dull
Smelling touched 90 q and the preferred
improved "a. Sloss Sheffield Steel stiffened ..
Amalgamated Copper, Tennessee Coal.
Wrestling house Electric and the Hooking
and Lead, New York Air Brake, Leather
preferred, Chicago and Alton and Chi
cago Terminal l. Canadian Pacific was
taken confidently up to 146R.