The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-16
NOT A FAILURE
DURING THE PANIC
Sharp Advance in All the Leading
Securities, Led by Reading and
Arnaleamated-The Rumor
That Hartman Has
Lost Control ofU.
p. Is Denied.

NEW YORK. March 15.-An unusua1
scene was enacted on the floor of tho
STOCK Exchange to-day just after the
market had closed strong and buoy-
nht. In sharp contrast to the demora
!lzation of yesterday. Brokers gath
ered around the trading posts and
chcefed loudly In demonstration OF
s9eir rencr and satisfaction at to-
uaV change in speculative sentiment
from the panicky feeling OF yester-
day. congratulations were extended
oil around the room on the fact that
lne members of the exchange, without
exception, had successfully passed
through the severe declines in prices
OF the past two weeks, and hopes were
generally expressed that the worst
WAS over.
To-day's stock market opened very
strong at much higher prices than
yesterdays closing, Reading leading
with a rise OF Ii points
An, amalgamated ga Copper also was
led practically the whole list In
sharp upward movement.
There were the usual reactions, but
the tone held relatively strong.
1t was known in Wall Street that
the bankers had reached their offices
carly and that n careful Investigation
OF The situation did not reveal any
cause OF anxiety as to the solvency
of any banking or brokerage house,
This change had much effect on SEN
timent and together with the an
nouncement of government relief for
the money market made late yes
terday. gave the traders confidence
that the situation threatened no grave
danger. and that the money market
would be able to care for all legiti-
mate requirements.
The trading continued active with
the general tone firm throughout.
even the 10 per cent. money rate be-
ing OF little effect
At the close OF tho market leaders
showed the following advances from ycs-
tcrday:
Amalgamated Copper. 13.
American Smelling, 10 "a.
Anaconda, i2.
Atcilison, 3-S.
Canadian Pacific, s i-2.
st. Paul "a.
Great Northern preferred, 0.
Missouri Pacific, 10.
Northern Pacific. . 5-4.
Pennsylvania, "a.
Reading. IL Ia.
Southern Pacific. 1-2.
Union Pacific, II IA.
United States Steel l-2.
United States Steel preferred, 3 is.
All through the day there was heavy
buying by bargain hunters for invest
mcnt. and their purchases We're heavy
enough to strengthen the market each
time the prices weakened. Hundreds OF
thousands of shares are believed to
have been taken by these purchases.
There were the usual rumors In cir
cuIation today, but not much attention
Was paid to them. One Of these was
that r. H. Hartman had lost control or
Union Pacific. Instant denial was given
the report, and 1t had no influence on
the trading, Union Pacific continuing
strong at the close.
The Stock Exchange galleries We're
Nllcd to-day with spectators drawn to
the scene in the hope of witnessing an
active and excited trading market. They
were not disappointed for the opening
was one of the lIveliest known In long
time. AT 10 o'clock the galleries were
crowded and there We're hundreds of per-
sons waiting outside unable to gain ad-
mlttance, Among the visitors to tho
exchange during the day were many
women.