Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-20
Market Largely Dominated by
Professional Dealings.
UPWARD MOVE IN PRICES
Reflected Mainly the Covering OF
Short Contracts.
DAY FREE FROM RUMORS
Foreign Account Deals Scarcely in Ex-
cess Of 10000 shares-Sharp
Rallies in Railways.
UPWARD MOVE IN PRICES
DAY FREE FROM RUMORS
Special Dispatch TO The Star.

Special Dispatch 10 The Star.
NEW YORK, March 20.-That action and
reaction are equal and In opposite direc-
lions may safely be reckoned upon to DO
demonstr rated in a stock market largely
dominated by dealings OF professional
character. There took place IN today's mar
ket rally which Appropriated the pro-
portions of recovery from yesterday
general and severe declines.
II was the fairly general opinion of close
obse rvers OF the trading that such an up
ward swing IN prices as took place re-
feCted mainly the covering of short con-
tracts put out in yesterdays transactions.
There was. however. on the other hand. a
material falling away in the liquidation
which was observed then. and, In fact,
such further selling of this description as
occurred took place mainly In the first few
minutes of business.
The day was free from the numerous
malign rumors OF personal nature which
accompanied the weakness in the market
yesterday. Practically all of these reports
were fatty contradicted and little interest
appeared to be taken today In the efforts to
revive them IN new form.
The issue of the labor situation In the
coal regions continued to be enveloped In
stocks moro directly concerned moved In
common with the remainder OF the market.
Advices respecting the tortuous progress
of the Moroccan negotiations took today a
decidedly more favorable turn, and some
London cables stated unequivocally that
definite agreement had been arrived at be-
tween Germany and France upon their
spectiye contentious. These reports were
apparently accepted as reliable In the Lon
don market. which showed general improve
ment, with American stocks participating In
the rise there.
Commodity Markets Dull.
Sterling exchange declined few points
further, but the weakness In that market
seemed 10 have no special significance. The
commodity markets were dull and steady
with no striking intelligence coming to hand
respecting the status OF the winter wheat
crop. y further influence In the rally in
the general stock market was an upward
turn in the Consolidated Gas issues, which
was in fact, more pronounced than any
movement in that direction which has been
witnessed IN those securities for several
weeks past
The volume OF trading was maintained
upon about the same scale or activity as of
yesterday, and very fair distribution of
INTEREST was evident. The securities of the
lines in the southern states were decidedly
nrm under the leadership of l.. and N and
win quite heavy transactions In the South
ern railway shares.
Sharp rallies took place in Northern Pa
CHIC and Great Northern, preferred, with a
helpful sentimental influence upon the rest
or the list. and increasing animation was
displayed by Missouri Pacific and the Wa
bash issues. Union Pacific was, as usual
one Of the most active features of the
railway list, and was likewise strong Not
ably sharp gains were scored in some of the
railway specialties. conspicuous features be-
ing the 500 stocks, and Duluth. South
Shore and Atlanta