Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-03
LARGE BUSINESS VOLUME
Trading Showed Unquestionaoiy
Strong Undertone.
DAYS PRoFIT-TAKING FEATURE
There Was Genuine Liquidation
Money Conditions Very Active
Gratifying Statements.
Special Dispatch to The Star.

Special Dispatch TO The Star
NEW YORK. April 3.-Stock market
movements today were much more Hiee
lar than they were yesterday but inc "oi
ume OF business was maintained upon
large scale and the trading showed an UNI
uuestionably strong undertone MOST Oh ti'o
days moro striking movements IN prices
xvere toward higher levels. even though net
results were curtalled In some cases ana
made generally irregular by several sharp
reactionary movements which took pace
from time to time.
Proflt-taking in exceedingly large volume
was feature of the days market, anu
particularly soon after the opening Oh ousi-
ness Initial transactions in nearly al
cases were effected we'll above yesterday
closing figures, but prices soon yielded
throughout the list under the weight of the
profit-realizing sales mentioned
During the forenoon the general market.
while continuing active. showed little dehn-
tie tone. but toward midday a sharp and
common upward sagging took place under
the stimulating influence of q rise in Union
Pacific. Even then, however, and subse-
quently. the strong cross-currents of new
buying of various descriptions and of fur
Their speculative selling caused the dealings
a whole to present irregular and indie
cisive tone. Consolidated Gas maintained
itS uHSLNlaDI0 prominence as lue WedheSt
stock in any quarter of the market,
Some Heavy Liquidation.
1t was very plain that IN that special IN
stance genuine liquidation upon a very large
scale was under way. unusually large blocks
OF the stock changing hands at falling
prices. and meeting with no apparent sup
port save that due to the occasional cover
ing of short contracts.
1t was remarked In more than one quarter
today that II would be we'll for the stability
Of the market at large II Consolidated Gas
could consumrnate its market career forth
with instead OF showing the almost sicken-
ing daily declines of the past few weeks,
But with the prospect of a sharply reduced
dividend ahead, IL Is not improbable that
the market will have to withstand best
1t may the liquidation In this security until
the worst Is known respecting the dividend.
Money Very Active.
Money market conditions continued very
active. and the banks reported a loss to the
subtreasury up to this morning of over
si.s0O.o00. In addition to this sum there
were fairly large transfers of funds to the
interior, notably to San Francisco. Little
alteration was shown in the rates for ster-
ling exchange. The Chicago markets were
closed today on account OF the election at
that point. and considerable interest was
taken in the direction which the voters
are to make on the question of municipal
ownership of public utilities. There was
also increased discussion to the outcome
of the new complications which have arisen
at Washington In the railway rate bill leg
3slatiou, although It Is commonly assumed
that in the event of the failure of the
present Congress to pass the bill, an extra
session will be called.
The final efforts under way to effect al
adjustment OF the wage controversy in the
anthracite region also attracted much at
lion but during the part of the
business session nothing was heard as TO
the outcome