The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-20
ANOTHER BREAK
ON STOCK MARKET
Weak Houses Had to Unload aid
Much Stock Offered Weakened
Market.
MANY DISTURBING RuMoRs
Market Rallied Somewhat To-
wards Closing Hour, But Last
Figures Were Weak.
MANY DISTURBING RUMoRs

NEW YORK, March 19.--To days
nervous stock market was regarded as
natural consequence Of the demorali
zation Of last week, but the weakness
and uncasinesB were much more acute
tllan were expected, and gave rise to
fears at times that the market was
breaking away from control again and
slipping back into frenzied conditions.
There are always some strongly held
accounts which are held through q
slump like that OF last week, and pro-
tected In spirit OF assurance that
they can be closed out to better advan-
eage by waiting for the frightened
selling of weaker holders to be ended
The strength of these accounts is inn
paireG nevertheless TO such an extent
they are subjected to pressure by
u. o.ters or banks or others concerned
In helping to carry them to be closed
out at the first opportunity such
reaction as that OF yesterday, follow
ing the reduction OF the uncovered
short account, adds to the weakness OF
those hold-over bull accounts and to the
urgency for closing them out.
The selling during the first hour to7
Hay aroused the suspicion that very
large account OF this Kind was being
forced to liquidation Without regard to
the ability of the market to absorb the
heavy offerings. The Identity OF the
account was not discio-sd, but rumors
became very explicit OF q threatened
embarrassment. 1t was supposed that
only the rendering of assistance avoid
ed a failure. a good deal OF anxiety
was expressed also over the money
situation abroad. 1t was somewhat re-
Hlarkablc that this anxiety was foster
cd by the persistent abstention of New
York bankers from withdrawing gold
from foreign markets. The seemingly
heavy sacrifices which are being made
In the New York stock market for lack
Of credit facilities. which the foreign
exchange market indicates power to
secure, give rise to vague fear that
something worse than tho New York
stock market condition is feared IL de
mands for gold should be forced or
foreign markets. Cable reports were
circulated in Wall Street to-day tina,
the Bank of France was lending golt
to the Bank ofFEngiand, that the Eng.
fish bank authorities had requested
New York bankers to refrain from bid
ding for gold in the London market
and that Berlin was liquidating securi
ties in London on a large scale. A
the same time, money and discount
were easier in London.
Money on call here showed furthe
relaxation and the advance to a pre-
MUM OF New York exchange at Chi
4 casO lnnlcated lne process OIL remit
tanres from that centre to this. For
eign exchange also was weak. Il
spite OF the reported troubles OF for
elgn money markets The easier ten
dcncy extended to the time none.
market here. rates for which wer
uuotably lower. The operations wit
the subtreasury nre yielding som
gain to the banks. The further Ii
quotation in the stock market is re
lief to the money market also. Anothe
factor In the days uneasiness cam
from the tone OF the limitations give
out by prominent capitalists in thei
new accessibility to newspaper report
ers.
These intimations, though conveye
In vague form, were interpreted as evl
denccs OF rancor amongst difrcrer
groups Of capitalists. 1nsinuations tina
the stock market had been raided a
measure OF reprisal by one srou
OF capitalists having grievanc
against another. found a place in som
of the quoted utterances published
Wall Street news channels. The unse,
tied market continued throughout, an
the closing was irregular, although {
substantial recoveries from the loves
levels.
Bonds were weak Total sales. pr
value $1,S9200O. United States bono
were unchanged.
Total sales Of stocks to-day WEI
1,405,500 shares.
MONEY. AND EXCHANGE: CLOSE
Money on call easier, 1-2Gb4 ia p,
cent; ruling rate. a; closing bid, s.
offered at A. Time loans easier ar
dull;s sixty days, 696 ID per cent
ninety days. 6 per cent; six month
per cent. Prime mercantile paper,
la per cent; sterling exchange wee
with actual business in bankers bill
at $4.S3l0D4.S315 for demand and
t4.7so5 @4.7s7o for - sixtyoday bill
S4.S4 1-2@4,S5. Commercial bill
S4.TS as. Bar silver, G6 IA cent
Mexican dollars 81 ga cents. Cover
lnent bonds steady; railroad bon
weak.