The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-02
UPS AND Downs
Of ST0Ck !. & ]
Erratic Movements Were the
Order Of the. Day i'll Many
Stocks.
HIDDEN HAND MANIPU!LATEs
"a Rally Came at the Close in
Spite OF Note Issue OF l.. &
N. and a, c. L..

NEW YORK, March 1.-The incon-
stuncy OF the current stock market
was emphasized by It's erratic move
nnent to-day. Hitherto this week the
abrupt reversals have come on sue
cteding days. To-day the range was
l'ctrncted before the expiration of the
session. Severe declines were shown
at one time during the day, and these
were practically wiped out by a sub
sequcnt rally. Transactions were on
u considerable scale, but were largely
congested in u few active stocks. The
constant fluctuations of prices point
to professional origin for the greater
part Of the transactions. The extent
or the fluctuations, however, as well
az the absence of authentic informa-
tlon to explain them, keep alive suspi
cion Of manipulative tactics In the
market TO conceal the real character
OF the operations In progress. Some
OF the special weakness to-day was
attributed TO the aftermath of tho
Hartman inquiry, and to suggestions
or new directions which future prose-
cution Of the inquiry might take. The
sharp declines In the Hill stocks We're
connected with these suggestions
Reading continued a centre OF at.
tack. and rumors persisted OF FORTH
coming large note issue by that COM
pany a bad effect was produced also
by the reports OF vote in progress
amongst some classes OF Pennsylvania
Railroad employees on 4 proposed
strike, although officials of the COM
pany profess confidence that tho dis.
puts Will be settled One of the
board room views on the early weak
ness OF the market was that it was
the expression of disapproval by large
financial interests OF any attempt to
II. l,.1f INN
ton OF the aidrich bill. Large in
1luence on the upward turn in the mar
ket was attributed. however, to the
report from Washington that this bill
would be taken up In the House dur
Ing the afternoon instead of being put
over to the Saturday session. The up
ward turn came In the face OF the an
nouncement OF new note issues, for
which so much dread had been pro-
fessed, the Louisville and Nashville
and Atlantic Coast Line being The
companies concerned The understood
terms of the sales of the notes Of
fered no evidence of improvement If
the supplies Of capital available fol-
this kind of financing.
The late rally in stocks was only
slightly impaired, and the closing tons
was slightly irregular.
Bonds were heavy. Total sales. pa
valdcrS Sfsihs.nvu. ri9Hi Seu setat es w
changed. Total sales stocks We're l.,
12s.oOo shares.
NEW YORK. March Money OF
call strong, 8 i-2@7 per cent; rulint
rate, 6: closing bid. IL; offered
g. Time loans slightly frmer; sixt!
days, s3-4. and ninety days, 8 1-2G
53.4 per cent; six months, L. pc
cent Close: Prime mercantile paper
r n s.pn
casier. with actual, business in bank
crs, bills, at $500 and s4S465 for de
,nand. and at s4.sO35m4.so4o for sixty
day bills; posted rates. s4sl IL an
SASS IL; commercial bills, $3.50 1-se
a.sol-4; bar silver, 69$-S: Mexican dol
lars, SO 1-2; government Londs STEADY
railroad bonds heavy