New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-03-16
BIG RALLY IN STOCKS.
THE PANIC At An END.
No Failures on Either Exchange
Hartman and Union Pacific.

me STOCK market panic OF March 1907 has
passed INTO Wall Street history. a panic upueroI
" i'S absence OF any tendency to recovarv a.
prizes on the day OF its occurrence and vvftho,,4
bieOeueht In the fact that no failures followed
'iie tremendous crash of securities va1uas w..
'eruay rapid and extensive recovery o,c,,r-..,
ne annual report OF the United States Staa1
Col porauon. with its showing Of enormous er,s.
:. ne earnings In the last year. appearing as
- d'i'ioS' colncidently with the occurrence
paiAc, aHorded strong proof Of the cor
u 'ne general belief that the lone de-
0ii"e IN stocks. eliminating IN 7-h,,r-.,.,.
crash was primarily ascrtbabIa - -
tnan unfavorable developments afgectirs- 49,,
uustrlal and business outlook.
AIteF the close OF the n1artas -, r-h,-.
caihe the announcement OF the Secret.-,- - 49,.
tAc"9uIE OF his decision to give substa1t,.I -
nel 70 ihe money market by redeen1ina eos
VOO'VVV Oh the bonds OF 1907. by depositinr c,a-
'oiIS receipts In depository banks IN certat,
@CiueS @ ana by deferring the retirement oe tba
S4o'VVV'OVo additional circulation taken ont 1a.t
laH Al night too. there were held upto,,-, 60,
feTences Of some Of the most powerful ana,-t.y
interests At these meetings it was decided N
support the stock market in the mornine. ana
plans We're carefully made for carrying into
execution this decision
O77 causes combined to produce remark
ably strong opening yesterday, initial transac-
tlons showing such advances over Thursdays
close as to II points IN Reading. which opened
wide" at from 1O2 to 104: 5E in Union Pacific
ga to 51a in New York Central 8 points IN
Missouri Pacific. 694 in ST. Paul SIS IN Northern
Pacific. S1s to az in Pennsylvania, : IN Anal
gamated Copper points each in Baltimore &
Ohio and American Smelling and Refining, ana
1915 in Delaware & Hudson.
Consolidated Gas and Illinois Central were ex-
eeptions to the prevailing strength. opening az
declines respectively OF points and e point.
LONDON PRICES LEAD ADVANCE
London prices for American stocks shortly
before the opening OF the exchange here were
reported from 2 TO 1O1k points above Thursdays
local closing. with Union Pacific. Northern Pa
cific, Reading and St. Paul the especially strong
features. This was one Of the important eIe-
ments Of the early strength in this market. a
good impression also being produced by the an
nOuncement that the RothschiIds would support
the London market.
In the first hour there were vioqent fluctuations
prices rising rapidly on urgent short covering
and declining on proft-taking and on liquidation
by crippled operators But when at II o'clock
it became known that all sheets had gone safely
through the Stock Exchange clearing house a
sharp rally occurred, and during the rest Of the
session. except for a brief period IN the after
noon. when proft-taEing was again IN progress.
the Improvement Continued. the close showing
considerable net gains throughout the list TIE
total sales for the day were about 1T25.OOO
shares comparing with 2.55s1s6 on the pre-
cedfng day. The following table. showing tho
net losses in number Of active issues on Thurs
day and the net gains in the same stocks yester-
day- will give q fair idea Of the extent Of the
rally: