The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-03-22
DEALINGS SMALL;
MARKET STRONGER ) | R. ] n {: /.
Rumors Of Great Failures Are
Known5to Be Without
Foundation,
.BARGAlN-HUNTERs AT WORK
Rates Go Up at Paris, But the
Situation Looks Healthier and. y.
More Hopeful.

Situation Looks Healthier and. J.
More Hopeful.
IN NEW YORK, Marcl, 2l.--Thcrc was
4 notable shrInknge Ill the volume Of
dealing In stocks to-day which was
regarded, on tho whole, with satis-
faction by tho financial community.
The expansion or dealings lately has
been 30 clearly nn added burden TO
the market, MS the increase in bust
! bsde, that the reduction IN volume Is
Welcomed. There was little or none
Of the urgent selling pressure to day
which has developed at one time Or
mother during d session for many
days past The earl mnrket t made
ZONE disquicting dips. and there was
more or less fcreriahnrss perceptibla
In the movement u prices, but this
tendency was towards q distinctly
2quletcr market. The situation seemed
TO be that effect tive support was forth
coming Mt last for any hostile attack
= on prices. The 81 market was enabled
= to advance slowly as n consequences.
Tho demand was not 'nrge, however
and the gradual hardening tendency
after the opening weakness was In
5und3 intervening periods bordering on
stagnation. The terrprs o fSthe bears
have been dissiphted to some extent
by the failure Discrimination sCf any
80f the many alarming rumors Of fail-
I ,ites and cmbarrassn,ents which were
4 kept IN constant circulation Scster-
day and the day before. There was:
y hnotl1sable resumption to-day OF the
busing in odd i lots. which was sup
8 the nm rkct OF the small investor, Mt
tracted Sbr the rate 4of Investment re-
turn Fpn stocks on cred at the existing
price level. Operations OF 10 larger.
4 ciass on 1nargi were almost entirely.
in the hands OF tho professional class,
& and the many shifts OF position ac-l
Y counted for the constant backing and
filling OF the market. The incident
OF the@da to which most Importance
was attached was the advance In the
II official discount rate OF the Bank OF
Franco from to l-2 per cent. car
lrylng the private discount rate up
with ~ to 8 s-s pc 7 Gen 4 was gem
orally assumed that this movement
was directed against the London mar
Il ket's pressure on Paris. The recent
high. ruling rate Of sterling exchange
remIttanccs from Paris to take part
I'm the Japanese loan conversion at
London. Some opinions also nttri-
buted the rise to o, process OF T re !
:;the desire OF French ca pital to escape
ri tho proposed INCOME tax. 8 II was re-
4 ported that the Bank OF France was
acting In conjunctions&w with the gov
eminent in afusinE to part It'll gold
q FOR .ex port s5S in ord erI to s o ppose $# the
movement OF e French capital away
i from the country. The &C ion Of :: the
IN French bank. 81 however broad - con:
VI sldercd sancceptcd az sconfirInntion:sof
y the worldwide tightness OF money
U market IS. TO day Bank Of England
"a return a showed Bf an VI expan sion OF S14,-
al co,oo,oo lin tstanding edits. &whiel,
u IN condition OF the bank, the reserve
n and bullion items being little changed.
81 The period OF tax COLLECTIONS In Lon
on Is now pa ssed and # IL no con-
n England will control fic money mar
kct so absolntely5sas heretofor Witt,
I'll hcE April settlements out Of the way,
4 II lis doubtful whether the Btacit agree
Il men which New Y ork bankers nre
II assumed to be #und dor I q take no 4 gold
III rom the & London market will \ be no
longer observed. s "a 5s Nd
S onlcial announce nleat IA by the Erie
4 Railroad & to-day OF tho postponement
Ssof sweepin 81 plans for new outlay
$Tiarlsed I another stage i n tile etrench-
v 1nent policy Of the railroads. In order
q to relieve the&undue pressure Of the
S@t nsuftic ient supplies q r ca ri tai avail.
able, Some stocks ended tho day al
5Rth he's best prices. but the closing tone
was IA her unsteady, ss II; M
Bonds were heavy. Total snles,5 PAL
value S EOS, 000. VIII United States bonds
were unchanged on call 5il "A AZ
5598 Total sales to-day, 641,50o shares,
. MON rY AN p, 1sxc HAN G 6 CLOSE
&i8 Money on cal steady,a33 i "a ga 4 q no
s4 con t.; ruling rate, u per cent. Closinl
bid 3 LIZ, offered at a. Time 3 loans
VI stron s; sixty days ninety days ant
sSs paper, 6Qps61- per cent sterllngiex
a& change, firm. with actual business /,
Fl bankers bills at $+,ss251a,SsaO5 forsJo
~ lnand and at s. 1860 M4. 1866 for sixty
ass8 day b U.s.. i ost ted rates, $4SON4.SOll.
III and $4.S488 10 04,s5f1 Commercial bi1Is
81 AIS Id Bar silver, &C ass, Moxlca,
dollars Government d bond
steady: railroad bonds heavy, al ~