The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-03-05
TRADERS LOOK
FOR MORE LIFE
But Don't Favor Making Market
Extremely Active at This
Time.
MONEY RATES MUCH EASIER
Generally Considered That Mar
kct Has Not Been As Tight
AS 1t Seemed.
Especial to Tho Times. pispatch.)

Especial to The Times Dispatch)
NEW YORK, March 4.--rhe stock mar
kct opened last week with sentiment
fairly cheerful and o. disposition to en-
tircly disregard the money market, which,
however. already showed signs OF soon
becoming Il dominant factor. AS the
week wore on. however. and the ban6s
began to show heavy losses to the sub
treasury. forcshadowing. as 1t was
thought, a very bad bank statement with
very low reserves at time when the
bank reserves should be normally large,
sentiment changed and heavy liquida-
ton started. Very severe breaks &C.
Cured In some OF the high-priced spe-
cialties, which have OF late been prom
inent. notably In Great Northern and
Northern Pacific. which declined az
much as dozen points in day on
reports that the ore deal between the
Great Northern Company and the United
States Steel CORPORATION was Off for the
time being.
Consolidated Gas broke violently on
the prospect OF the passage .of the
sighty-ccnt gas bill in Albany. Through
out the entire list declines were prac-
tLcally universal, and throughout the
week one OF the most notable things
about the movement has been the lacx
OF vigor Of the rallies. which have oc-
Cured from time to time.
After break the market would rally
fractionally. but as soon as II began to
look strong immense offerings would be
Forthcoming Mt the higher level, and thuS
check all further. Improvement. Tho
outside news was more or less conflict
Ing. and hardly defnite enough to If
feet prices one way or the other. Tho
coal strike situation seems improved,
strike in either the anthracite or bitumi-
nous coal regions than was thought
probable some time ago.
Prices were higher at the opening Of
the short session OF Saturday on the
news OF relief to the money market by
tho government. but stocks were freely
offered. and the gains were not main
tanned. The weekly exhibit OF the banks
was conHiderably better than had been
predicted, but this had little effect on the
market.
Persistent selling OF Amalgamated Cop
per and Anaconda In the last half hour
brought about sharp reaction In these
stocks and caused selling In others. The
tone at the close was easy. and near the
lowest prices of the day.
While It will probably BIO argued that
the {D,opo0oo which the Secretary of the
Treasury deposited In the banks Is not
"a sufficiently large amount to relieve the
money market throughout the United
States. |, Is believed by men who are in
close touch with Washington that this is
only the beginning OF what the Secretary
will do from time TO time toward putting
more money into circulation. or the
other hand 1t Is confidently believed that
money has not been as tight as II has
seemed, and that II the Secretary of the
Treasury had not taken any action. rates
would have been considerably easier be-
fore the middle OF the present month.
1t is believed that the large earnings OF
the United States Steel Corporation will
result in higher prices as soon as 1t Is
realized that the monetary situation is
not nearly so bad as has been reported
1t is expected by uptown interests that
the market will improve. but not even
the most optimistic interests are in favor
OF making the market extremely active
at this time,