Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-11
Sharp Contraction in Volume OF
Business Today.
DIMINISHED LIQUIDATION
Market Opened Firm, With Former
Pressure Abated.
EXTENSIVE RECovERIES SCORED
Interest in Hartman Utterances-Un-
expected Strength Of Americans
in LONDON.
Specisl Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK March lin the sharp
contraction in the volume Of business which
was noticeable in today's stock market, 1t
was evident that the chief factor in the re-
duced activity was the diminution In the
liquidation which was conducted almost
WITHOUT cessation throughout last weeks
dealings. The fact also that Saturday 3
market resulted in sort of drawn battle
between the opposing stock market forces
indicated of itself that for the time being
the pressure of securities. on one account
or another, was abating.
At all events this mornings stock mar
ket opened firm, and large number of ex-
tensive recoveries were scored at one time
or another during the business session
There were no developments of much con-
sequence In the news over Sunday or dur
ing the course Of the business session to
which the course of the stock market could
be directly attributed.
There was naturally a great deal of COM
ment upon the extensive and comprehensive
utterances by the head of the Union Pacific
system which were published yesterday
and interest in his statements was further
ed by this mornings announcement that an
interview between Mr.. Hartman and Pres
ident Roosevelt had been arranged ior
Thursday of this week.
According to Washington advices. no pos
five engagement has been entered upon
between the two gentlemen. although II
was not denied that the president OF the
Union Pacific would, upon request De re-
ceved at the White House.
Doubtless some little influence was like
wise exhibited upon the stock market by
the unexpected strength displayed by Amer
lean stocks In the London market. 1t had
been feared that, In view of the unsettle-
ment in the local market throughout last
week, American stocks would be seriously
nr,lA tod NO. {
the fortnightly settlement upon the stock
exchange there will open tomorrow
Foreign Buyers Active.
American stocks were, indeed decidedly
weak at the outset of the London market.
but they rallied sharply with the course
Of the business session. and previous to the
opening of the local market they were
quoted we'll above parity with New York's
closing prices on Saturday. Foreign
houses were quite active on both sides or
the account and were buyers on balance or
about 10000 shares.
The London stock market was generally
steady being favorably influenced - the
success of the Bank of England In secur-
ing the whole of today's consignment of
gold from South Africa, amounting to
.E375,OOO In addition to this acquisition
the bank bought in the open market further
large amounts Of gold. including ElOS,OU,
American coin. In some manner this last
transaction was incorrectly reported as
representing a sale of the same amount OF
metal by the Bank of England for ship
ment TO America Sterling exchange was
quite weak today and gold imports might
have been undertaken with profit, but so
far as could be learned none was actually
engaged.
Local money market conditions showed
little alteration, in spite of the fact that
up to this morning the banks have suffered
a loss 10 the sub-treasury in their OPERA
tions with that Institution amounting to
s. 2i9OCO a sum in excess of the total OF
their surplus reserves as set forth In Sat
lrday's bank statement.