The San Francisco call., 1907-02-28
Nev yorI< STOCK ,Iarket

NEW YORK. Feb. 27--The stock market was
and varied character as that which broke prices
( on Mondays low level for the year Yesterday s
rally had given the impression that Monday $
selling was largely for professional short ac-
count Today's selling had much the appearance
. ~ iioui5afior ard the market was in the same
unsupported condition as Monday. a fact
which accounted largely for the material in
roads on prices on comparatively light selling
II was generally held that the developments at
the Interstate Commerce Commission inquiry
were responsible for the tone OF the speculation.
II was not any immediate result of lnforma-
fion disclosed that prompted the selling OF Sc
curities but the fears Of the ultimate conse-
quences growing out Of the Investigation The
recognized aim OF the investigation IS TO demon
straJe the desirability necessity Of more
/ stringent control over railroad companies by the
] Government especially in The matter OF issues
OF capital and purchase of stocks in other prop
critics. on account Of the bearing on the freight
rates charged which these matters have 1t IS
/ believed that so far tie impression upon the
public mind OF these Is concerned the inquiry
win have the effect Of strengthening the conten-
zion Of the Government substantially and Of fur
fhering the Efforts 10 secure legislation TO secure
those aims The acknowledged effect of the
lbesrsnq o. the mind OF the observers IS that
Of an exercise OF individual power through the
resources OF the great railroad companies that
/ The showing is imposing even TO the Wall
street mind. which has some familiarity with
ne cor ditions and views them with spirit
which custom breeds decided growth in the
agitation for restriction and control of corporate
caused in sentiment By supplementary rumors
Of interest felt on the part OF the stockholderE
Of some OF the great railroads IN movement
ipsrsllel 10 that IN the insurance companies fol
lowing the insurance Investigation These
irumors were poorly defined and were given their
principal influence by associating some Of the
names presented In the campaign against the
old Insurance control IN the alleged plan for the
new crusade for minority stockholders. Add
fioual legal restra ints upon the hductary activi
ties OF railroad directors and executive officials
were the suggested method of procedure.
The news Of the passage by the Senate of the
Aldrich currency measure was OF Disappointing
eject on the market There a momentary
fr fIaa tnC (raI hnf rrfc
prom-slv sold OF again with a growing down
ward fupetus. The average level at the lowest
t--ae rather lower than was touched earlier il
flie Ieek. The average was affected by acute
reaSress in a few prominent stocks. There was
some eStersive buying during the hnal hour
srhish seemed TO be proft-takine by the bears
Is hqd thn effect Of sfcadying the market but
ithe--e rlera no important recoyeries-
asnas were heavy. Total sales (par value)
81 a20.asd.
Enited States bonds unchanged on call
New York stock List
z r. Hutton Co., 490 California street
members OF the New York Stock Exchange
furnish the following list Of bond and stOel
sales yesterday