The San Francisco call., 1907-03-09
- Ynrk stock Marlzrt

NEW YORK, March s.-Thsre was further
-astic liquidation in the stock MARKET tooAy
Il periods OF extreme weakness during which
ces plunged downward 70 q level IN many
ses lower than for several days past. Al
q same time there WIS evidence from time 70
me Of absorption OF stocks OF a Slno 20 ID
ate that prices have fallen TO level where
ne demand ie attracted OF an Investment OF
miinvestment character There have o@een @
re or less bargains in buying In small lots
Z through the weeks decline such as Is taken
+ of the market 10 hold for an investment
urn. But buying attracted BY me invest tpent lna
urn or OF a marginal character, mas been
wer OF development. There has Deen a
table lack also OF buying by banking and
Ter large financial instruction for purposes OF
mort The opening break in prices today did
.relop IN buying of this kind, and the percep-
N OF II was a prime factor IN turning the
Al recovery rally. The bears proved IN the
ier market that they had not exhausted their
1munition. This did not prevent growth
opinion. however, that the period OF actiye
euidation was approaching its term Senti-
mt was much less easy today, even during
early break, than for some time past ano
would run it's course without panic OF
saster.
The week has been free. In fact, from rumors
financial embarrassments, although the ex-
NJ OF the decline makes the fact OF enor-
5us losses having occurred a matter OF course
conviction remains general that these fallen
nerally upon the millionaire class and among
Sc who could shoulder the burden. are without
nous consequences It is this conviction
lch gives the present oecllue lne name ul me
ich mans panic among professional opera
rs Yesterdays weak closing paved the way
g the food Of selling orders under which the
irEer was swamped at the opening gloomy
atiment was accentuated by the otscouragin
ews upOp the industrial outlook expressed by Z.
Hartman in one Of various interviews with
n which spread this morning. BIS assertion
st II orders Oh hand with the United States
81 Corpora fion were not subject 10 cancellation
FIR completion would develop the lack OF de-
md was the occasion for the special drive
p ainst the securities of the corporation. The
q effect on sentiment Union Pacihc also
sDonded to the pessimistic utterances OF its
sident with q ma terisl addition to the reduc
q in the price caused by the per cent divi-
.ading and the support OF II factor In
ping the bears uneasy and IN inducing the
lensiye covering movement OF the day. There
- good accumulation also Of the group OF
ryan stocks which broke violently yesterday
"a Southern Railway preferred rebeunoec vio.
ely when II became known that the dividend
.e was maintained. This checked momentarily
decline IN the general market, which was re
med with the attacks United States Steel
drop in prices was much the same ar that
yesterday and the closing tone was decidedly
-.. ak. News was little regarded In the Gay
.ovement and very little Of importance came e
nd The indicated loss In cash by the banks
the week pointed to some subsistence TO the
Of currency into the interior. ana exchange
Chicago rose from Is cents to 10 cents dis
Int today.
sonds were weak. Total sales. par value
736 600.
United States bonds were unchanged On call.
New York Stock List
r r. Hutton a. Co.. 40 Californis street,
eInbcrs OF the New York Stock Exchange
-nish the following list OF bond and stOct
- yesterday.