Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-26
MORE WIDE BREAKS
IN WALL STREET
Great Excitement and Extreme
Confusion at the Opening on
Change Today.
FRIGHT OF THE BEARS
Different Stocks in the Same Group
Moved Wildly in Contrary
Directions.
COPPER STOCKS CONSPICUOUS
Report in the Street That Measures
Had Been Agreed Upon in Con-
cert to Support, Values.

NEW YORK, March 26-Wild excite
ment and extreme confusion prevailed in
the stock market again today. The action
of the market showed the conflicting emo
lions OF operators as between the dread of
disastrous consequences to follow the drill
ing fall in prices yesterday and the nerv-
Gus apprehension of the bears lest they
had overdone the reckless selling. The
fright of the bears overbore the current
of the market in the course of the first
hour, when some further wide breaks to
far below yesterdays lowest prices We're
confusedly mixed with violent advances.
Different stocks in the same group moved
widely in contrary directions at first When
the upward tendency clearly developed
fluctuations were wide and feverish, varia-
tons between sales running to large frac-
lions full figures, both upward and
backward This showed the difficulty of
discerning the prevailing quotations and
of executing orders.
The copper stocks were most conspicuous
among the first downward plunges. Anal
gamated Copper and Anaconda slumped 5
TO u. and American Smelling four points,
the last named. however, not getting back
to yesterdays low point. The further
break in the coppers was directly traceable
to the further slump in the price of cop
per warrants In London.
Uneasiness of Bears.
The uneasiness of the bears was height
ened by the continued cheerfuness of the
advlces from abroad this morning. Conf
denee was professed that the London stock
market settlement would be concluded with
small failures We're reported from there to-
day. In Berlin also II reported that
investment buying at the declines had come
in to offer supporting factor to the mar
ket, and the money market seemed to be
relieved from the urgent pressure of prepa-
rations there for the April money settle
ment.
Substantial Buying.
According to board room gossip the buy
ing Of stocks in the first hour was the most
substantial in many weeks. Support was
most conspicuous in st. Paul, Pennsylvania
Union Pacific, Southern Pacific Atchison
and the Copper stocks-in fact there was a
good demand for all the high-grade issues.
London bought and sold in the early
trading, but opera tons for that account
were so confusing to make the net re-
suit matter OF doubt,
Reports were current in the financial dis
tTict before the market opened that meas
ures had been agreed upon in concert
among great bankers and controlling inter-
ests in corporations to support the values
in the market of properties in which they
were interested. One firm whose name was
mentioned In connection with the rumor
characterized II as absurd.
During the course of the second hour ad-
vances over last nights closing prices had
Reached in Northern Pacific and Great
Northern pfd., I; Union Pacific &; ST. Paul
and Delaware and Hudson, 5!.: Reading
a. Atlantic Coast Line, Canadian Pacific
and Northwestern, TO Az.