Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-26
Better Tone Possessed Market
After Opening.
LAST SORTIE OF THE BEARS
Prices Took an Upward Movement by
Fractions.
STORIES OF SUPPORTING PLANS
Buying of a Character to Indicate
That Some Big Relief M assures
Were Under Way.
sp.cial Dispatch to The Star.

Sp.cial Dispatch to The Star.
NEW YORK March 26-The last sortie
of the bears came at the opening tais morn
ing For a few minutes they sold such
stocks as presented the weakest front, and
then apparently satisfied that the market
had taken on a new complexion, covered
their short sales quickly and stood aside to
await new developments. Even the usual
number of stragglers among the bear opera
/ tors seemed to have decreased In this flight.
The upturn in the market carried Its warn
Ing with 1t and they made their escape
without injury. The list moved steadily
after the preliminary skirmishing had clear
ed the field and noticeably better tone
spread from one group of securities to an
other
The Coppers. which had been the weak
feature Of the early trading because of the
fall in the price Of copper metal In London
rallied strongly and took their place In the
van upward market. Union Pacific. South
ern Pacific, Reading and the Hill securi-
ties led an advance that was impressive
because of its measured movement aho
general proportionateness II the rise had
not been So swift more confidence would
have been felt IN the soundness OF H. put,
although no big jumps were made advances
being almost entirely by fractions, some
epprehens on was felt that the gains were
too large to be maintained. .,
The money market helped to support TINS
view for call money at ten per cent was
hardly to be regarded as a favorable sign
for rising list
Buying of Excellent Character.
From the first II was apparent that the
buying in the market was of an excellent
character More than that, 1t was evidently
buying intended to give support to the
list and check the unregulated declines
that have played havoc with securities for
the past two weeks.
A story was current in the street that
several prominent flnanciers had met last
night for the purpose OF devislng plans
for the support OF the market and that
they have collectively subscribed $4,000
900 for this purpose. Another story fixed
the sum at s25,OO0OOO and Identified the
; members Of the pool as representatives
of the so-called Morgan-Hill interests.
In THIS connection an interview with Mr..
Morgan yesterday was recalled. in the
Cours,. of which he expressed his willing
ness to Jon in any feasible plan for bring
ing about a return of public confidence to
the securities market. The buying was of
a kind this morning to encourage this belief
that the explanation OF support by Dig IN
terests so account for the rise in. the list
was tie proper one.
The London situation on the second day
OF the settlement was renewed Oh any I'M
mediate cause for apprehension, and on
the wtiee the tone of the market had i'm
proved But Americans have not ceased to
be speculative foot ball for foreign oper-
atOrs. and today in London they did not
belle their reputation. Erratic was the word
generally applied to them. and erratic was
sufficiently descriptive 1t will be long
time before American securities, either on
the British or the continental markets. can
lose the name that Is theirs for the events
OF the last few months.