The Birmingham age-herald., 1907-03-29
CONTEST BETWEEN
 OPPOSING FORCES Neither Side Gaining Advantage Fight Is Abandoned STOCK MARKET IS DULL ouletness Is Accepted as Grateful Re, lief From Recent Turmoil In the
 Market--Brokers Are
 Taking Rest.
STOCK MARKET IS DULL

New York, March 2S.-There was a rather desultory contest waged between the opposing clements in the speculation for a small part of the stock exchange session of today. When it was determined that neither side was gaining any ad- vantage, the professional element which had been carrying on the contest practi- eally abandoned 1t. After that the mar ket fell into period of dullness, such as has not been seen for many weeks. The quietness was accepted grateful re- lief from the recent turmoil in the mar ket. The professional testing operations seemed to be largely on the short side of the market. The resistance which these efforts encountered was attributed to the activities of the party of bankers and capitalists said to have been organized for the purpose of supporting the market. and supposed to be responsible for the rally in Tuesdays market.
 When the market was seen to have re- gained some degree of balance many brokers left the street intending to be gone until Monday in the enjoyment of what they regard as much needed rest. Active operations were in progress at the sub-treasury today in the working out of the treasury's relief measure for the money smarket. Payments account of redemption of government fours of 1907, of anticipated April interest on the 2s, and the As of 1907, and deposits of customs revenues with the national banks, were all in pdogress. If preparations were in progress also for the large interest and dividend payments made, they were bal anced by these relief forces, and the money market failed to show any refiec- tion of them.
 When the stock market advanced early in the day, Great Northern preferred was a conspicuous leader on account of the Minnesota supreme court decision in favor of the legality of its $60,OO0,000 stock issue. There was, however, an abrupt fall in the quotations for the subscription rights to the new stock in the curb market While the issue of the new stock has been held up by the litigation periods have accrued for the payments of three per cent in- stallments of the subscriptions, and an- other falls due on April S. which would call f come $24,000,000, and might prove troublesome in the present condition of the money market.
 There is a general feeling of hopefulness s that money conditions will Improve after the first of April. The Bank of Eng land made a weak return for the week past but discounts eased in London and sterling exchange at Paris which meas ures the pressure of outside money re- quirements on that center, receded sharp ". The, poor showing of the English bank. therefore. and in less degree the French bank were considered as reflect ing the results of past pressure with promise of amelioration for the future
 Reports of deadlock between officials and operatives of western railroads which threatened a strike had a depressing eff feet on the market, and helped to the heavy tone of later trading.
 The marking up of prices at the end of the day was on a small volume of trans- actions
 The market closed fairly steady, how ever
 Bonds were steady, total sales, par value $1,91S,00O United States bonds were unchanged on call.