Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-10
IrreguIarity and Reaction in To-
days Dealings.
lONG-SIDED TRADERS BUSY
a Sharp Contraction in Activity Over
Yesterday.
CONSOL. GAS WEAKEST FEATURE
CONsoL. GAS WEAKEST FEATURE
Some Industrials Were Conspicuous In
Price Movements-Bank Statement
Showed Unexpected Changes.
Special pispstch to The Star.

Special Dispatch to The Star.
NEW YORK, March l0.-Such degree OF
irregularity and of reaction the stock
market showed today was neither extensive
nor remarkable in view of the material adj
vance in prices during the past few days
and of the fact that this was the last day
OF the business week. At the outset of the
market. and from time to time during the
business session, the dealings showed evil
dences of the closing out of commitments
on the long side by professional traders.
and the business of commission houses was
upon a reduced scale. There was. in fact,
quite sharp contraction In activity In con-
trast with yesterdays transactions during
the same period. Little or nothing hap
pened over night calculated to shape specu-
lative sentiment In one way or another. Sus-
tanning Influences in the market were the
expectations that the bank statement would
make fairly strong exhibit and that i'm
portations OF gold fIom Europe would be
begun next week. provided that there was
no substantial alteration in international
monetary conditions in the meantime. Ster-
ling exchange today continued heavy at the
low levels recently quoted. American stocks
showed small and irregular changes in the
London market. and the operations here for
foreign account while on the buying side.
were i'm small volume.
The Consolidated Gas issues were the
weakest features of the days dealings. and
n further reflection of what Is believed to
be the political and personal antmus against
that property was furnished today In the
intelligence that the state tax commission
had increased the assessment upon the
property by nearly 100000 in the face of
the reduction in the selling prices for its
product recently ordered by the state legs-
lature and the state board OF control.
Some Large Transactions.
Price movements elsewhere In the indus
trial and miscellaneous issues were In &C.
cord with those in the general market.
Transactions were largest in Colorado Fuel
and Iron. Amalgamated Copper. the United
States Steel shares. American Smelling
and Peoples Gas. The last named was
ceptonally firm. Leading features of the
railway list were Atchison. Erie. Union Pa
cific. Reading. ST. Paul. New York Central
and Norfolk and Western, and irregular
price movements were noted in the stocks
mentioned. with little definite to be named
In connection with their course. Nothing
conclusive in the way OF information was
obtainable with regard to the labor trou-
bieS threatened in the coal regions
The bank statement showed some unex-
pected changes, but the exhibit was on the
whole a satisfactory one. A decrease In
cess of all OF the preliminary estimates, but
was more than counterbalanced in its eff
rect upon reserves by a decrease in the de-
post item OF $27. G1S0o0.
The Bank Statement.
The latter change followed upon the de-
crease in cash OF a reduction in the loan
account amounting to s21, 25e, 600 In con-
sequence OF the changes In deposits and In
actual cash, surplus reserves increased
A II faAn 4rpn
In excess OF the lawful requirements. Sur
plus reserves in the corresponding week of
last year were 50, 27s, OOO in 1904 500 937 OCO
and In 1903 81 ,024, 600
The unexpectedly heavy Increase IL
actual cash was taken in part TO reflect the
correction OF discrepancies In previous
statements. and also to furnish evidence
that the banks direct shipments OF cur
Tency 10 the Interior have been In larger
volume than had been anticipated. Recent
stock market liquidation. heavy curtailment
81 the loan account