Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-12
Noticeable Stimulus to Stock
Prices Today.
ACTIVE BUYING DEMAND
Result of Morgan's Interview With
the President.
ORDERS SENT TO LONDON
Americans Showed Gains in Foreign
Market-Number of Heavy Trans
actions Scheduled for the Week.
Special Dispatch TO The Star.

SlF'lhl dispatch lne
NEW YORK, March 1.-THE announce
ment of the interview held in Washington
yesterday between Mr.. ]. Pierpont Morgan
and President Roosevelt, and the statement
subsequently made public with regard to
the purposes and results of the conference
impaired a powerful stimulus to the deal
ings in securities this morning. That this
should have been the case was altogether
reasonable in view of the present concen-
traton of interest upon number of suffi-
GENTLY well-known questions which embrace
in their scope the successful operation and
the very solvent financial existence of the
railways of the country.
1t was, of course, generally recognized
that the current crusade against railway
corporations waglng throughout the length
and breadth of the land. as evinced in the
actions of the large majority of the state
legislatures hardly be checked sum-
marily or even suspended. 1t was also rec
ogniZed however, that with the tremendous
influence eXerted by the present occupant of
the White House much good might be &C
complished by timely utterances on his part.
or al any rate that trail to improving con-
ditons might at least be blaZed.
The latter was the view taken in conSery-
alive financial circles, while SPECTATORS In
stocks, as usual, jumped Immediately to
the conclusion that the results desired were
already in fair way of accomplishment.
There was consequently active buying
demand right from the opening of business
upon the local STOCK exchange from both
speculative accounts, and many buying
ders were previously transm-- led to London
for execution in that market in anticipation
of higher range of prices at the opening
of business here.
London Market Showed Gains.
American stocks. accordingly showed gen.
eraI and active gains in the London mar
ket above parity with New York's closing
figures of yesterday. while the New York
market opened at sufficiently extensive
advances as to interfere with successful
arbitrage transactions, which, on balance,
resulted in the purchase of about only
% .0H0 shares.
Aside from the intelligence with regard
to yesterdays occurrence at Washington,
nothing was to be cited in connection with
the course of prices in the days stock
market A disagreeable impression was
created by the definite announcement of the
very large cancellation of orders by the
Wabash railroad for locomotives and cars.
but this intelligence was overshadowed by
that with regard to Washington confer
enCeS.
There was also a good deal of discussion
as to the probable course of affairs in the |
money market. although except for a fur |
Their hardening In the rates for loans on |
time there was no decided alteration OBJ |
served in conditions in that direction. Money |
on call at all events ruled around yeSter-
days levels. The figures of the transactions |
between the banks and the subtreasury
since last Friday indicated loss by the |
former of nearly S3.JOO,OOO. which Is about |
$1,J0.OOO in excess of the total sum OF sur
plus reserves set forth in last weeks bank
statement.