The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-20
EINANorAL AND COMMERCIAL.
MONDAY. March 10.

MONDAY, March 10.
The declining tendency which from the
beginning TO the end Of business character
iHed to-day's stock market was quite I'M
exphinedby any new financial development.
The volume Of trading In the market was
Somewhat, although not exceedingly, larger
than the average daily amount maintained
last week; and no doubt a considerable
portion Of the weakness displayed was
due to the operations Of spectators for
the decline, who, seeing that the buying
power Of the market was limited and hav-
ing previously reduced their OWN commit
ments, were encouraged to once more
attack values. 1t was the prevailing i'm
preston, however, founded upon the general
appearance Of the market, that the bulk
Of the days selling represented liquidation
proceeding from so-oalled tired" holders
of securities. There was not the slightest
change in the financial situation this morn
ing from that which was presented at the
close Of last week or indeed at any time
for many days ba ok. The foreign markets
were non-committal. Some further weak
ness in sterling exchange in Paris was
noticed, indicating, Of course, a movement
of funds from London to the French capital,
but on the other hand sterling rose in Ber-
lin. Discounts as a rule were lower and
save renewed pressure to sell the kaffir
mining socks In London the foreign mar
kets abroad we're inclined to steadiness IL
not to frmness. There were stories in
the morning newspapers here Of the illness
OF supposed illness of the capitalist most
prominently connected with the Standard
Oil Company; but it is well known that
this gentleman has long been in more
or less feeble hea lth, and il is doubtful il
his physical condition is any more i'm
paired than il has been for some time.
A letter published from the leader of
the ant hra cite niue workers addressed
to the coal operators asking for a further
conference was generally regarded az
being only a piece Of strategical byplay
by which it was sought to place upon the
coal operators seeming responsibility for
a failure on the part Of the parties con-
cerned to reach such an agreement as
would be satisfactory to the general public,
To most people, however. the step looked
like a confession on the part of the repre-
sentatives Of the labor unions of the weak
ness of their position as one from which
public sympathy had been aIienated, and
as SUCH Ine blOCh ma q iIllcl pictdltoh vi
the move should have been logically that
it was a favorable rather than an unfavor-
able factor. 1t was announced late in the
afternoon that the bituminous coal opera
tore at their meeting in Indianapolis to-
day had deposed from'the presidency Of
their association the president of the Pitts
burg Coal Company, who has all along,
as has been understood, favored a so-called
conciliatory attitude toward the men en-
ployed in the mines. 1t was argued that
this pointed to the likelihood Of a disa gree
ment between the soft coal operators and
their employees, although the indications
still are that the worSmen in the bituminous
coal district. are wavering in their deter
mination to press their demands for in
creased wages.
As the day advanced there we're more
rumors put into circulation Of the illness
or death Of important people in the financial
world, all OF these being absurd and par
taking solely OF the character Of the idle
tales usually set afoat in Wal Street to
account for the course Of a stock market
which Is weak for no we'll established or
obvious reason, There we're several o.
casions to-day when the decline in the
market halted and when prices rallied
slightly, but each time this occurred the
market became dull and liquidation was
shortly afterward renewed: The weakness
in the market was general. A~malgamated
Copper fell sH points, American Smelling
and Refining AZ, st. Paul ~, Brooklyn
Rapid Transit ~, Great Northern pre-
ferred 6La, Northern Pacific tx, United
States Steel, common and preferred, ~
and IL, Union Pacific ~, and so on. De-
clines of considerably more than a point
were. in other words, common 10 the
active stocks. Final quotations were at
or near the lowest. There were no changes
Of importance during the day in sterling
exchange or time money rates. Call money
rates were a little easier.