The San Francisco call., 1907-03-27
- D-o-1, stoclr Marked

Arw YORK. March 2s.-An abrupt reversal
OF price movement such that which occcnrre1 cns
looss ., 9Ss ssyssce or the decline II was
remarked yesterday that operauons ps me D,as' is
bsd fsken on the proportions Of ssturnala,. wa,
odsys reSFaE FsessSss ssOse bg oo beedess sales
~ what they had vet 70 secure for delfef9
bss fhe usl5aI anaIogy with the experience fol-
ll--s1r = Teriod OF revels and oversttmulatlon
ne market VIII the beginning OF the dealings.
me further slump in the markets
l,oih for copper and Tin In London sngeesteo
= repetition Of yesterdays success 10 Drlne lne
down The prices of these stocks ln seeking 70 tae
advantage Of this opening break 70 secure @ tns
stocks they needed II was disclosed 70 tne D~esrs ~
that stocks offering were IN scantler Supply ssi ,s
yesterday and that they we're meeting Win aocl-
iiopsl competition IN the buying. II was ehe E
feeling OF the market. perceptible 70 me sknlro
sense 81 the professional trader, which was the
serissxe factor 10 turning prices upward ana
starting the rush 20 cover by me pears -SeNs
- secolnt for the turn was lacking when II oe-
e,,--s6 eirbonrh some OF the days later devel-
opuents gave ground Tor eootning me teale - =.
sneculstors The most potential factor IN the
improvement was the check 10 the fan IN prices
irself. The things feared and which were
prompting the indiscriminsfe selllng OF tele
were likely 70 be brought soout oy tne feLs
force OF the fall IN prices itself, II rom no
other cause Il was the understanding OF the
danger OF these forces Of action sno reaction
which might be set loose in the market tnat
probably prompted the more aggressive measures
81 support which were undoubtedly c1uehoe1
1o6ar Rumors Of the plans and resources OF
ffie o-vanfzsrion OF support reached exaggerated
,,ronorfions IN the same way that rumOrs OF
the trouble were exaggerated while prices were
declining. The conviction OF the presence & %
much 70 do with checking the Generalization ana
driving tho shorts 10 cover 4he uDolsiurDeo
condition Of foreign markets today ~ splt %
vesterdsv's wild market here was surprise
10 the Spectators. London's confidence IN tbe
successful completion Of the stock marker settie'
ment without disastrous consequences vas re, re
uorfed 70 be unimpsfrec- Berlin also was salc
10 feel satisfied that arrangements nao been
nade 70 secure the success OF the April settie
mems II was announced during the course ol
Department had determined 10 deposit Sl5,OVo
600 for the customs revenues ID NeW 4orA
hanks ss well 70 prepay April interest," on ID rnt
2 per cent and per cent bonds OF lbVt Ahf
total amount Of interest during April on those
issues would amount 20 upward OF St-Oey.ovu
Al the same time reports received rom Nssn-
inrtop showed that the treasurys oner 20 ac
tcpt savings bank investment bonds 70 secure
deposits IN the banks IN substitution Tor Gov
crnment IS Of 1907, which should oe oneTeo 70. 20.
redemption under the treasurys proposai, was
having decidedly stimulating effect upon me
Offering Of these bonds for redemption one
notable effect of the relief measures Tor the
exchange market which had shown further early
deciBes from yesterdays low level. Inc eA
freme advances reached 70 over points ID mos
Of the Hartman and HUI stocks. 70 o or oFel
IN st Paul. Canadian Pacific anc Smelling, Z
El5 10 Reading and Louisville 6nd NASHVILLE ane
from 10 in large number Of the most active
stocks The extreme gains were not al held
sno the closing tone Of the market was rather
Ro5ds were distinctly weak in spite Of the
rally in stocks and large volume OF business
vs. done npou The homo division Of the market
Total ssles. psr value $3.50 600
United states bonds were unchanged on call.
New York stock List
A. r. Hutton Co, 40 California street
nish the following list Of bond and stock saie'
yesterday.