Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-25
Profit-Taking Sales Today
Checked Buoyant Market.
NO EXTENSIVE DECLINES
A Well.Maintained Degree of Re-
sistance Indicated.
THE WASHINGTON INFLUENCES
Price Movements Fairly Uniform.
1ndustrials and Miscellaneous
Stocks Exceptionally Strong.
THE WASHINGTON INFLUENCES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 2j.-Profit taking
sales in large volume were again conduct
ed In today's stock market. with the effect
of leading up to sufficiently reactionary
tendencies as to hold in check the budding
outside interest in the speculation. The
consequent declines were In no cases real
ly extensive, and the stock market at all
tires during the business session showed
Northumberland degree of resistance
Perhaps the most important occurrence
during the business session was the publ
cation of the Presidents special message
to. Congress, although 1t should be said
that the document contained no surprises
in point Of feet or expression. Since the
early part Of the week. indeed, the gen.
eral tenor of the communication has been.
as usual. matter of general acquafnt-
ance.
While there were no attempts made to
deprecate the deep Importance of Mon
days decisions by the Supreme Court at
Washington. in the matter Of the railway
rates litigation proceedings before that
tribunal. it was only natural that the eff
forts OF the rulings should have played
somewhat smaller part than was the
case on Monday afternoon and yesterday.
1t lis nevertheless true that the far-reach-
ing effects Of judicial rulings in question
will be discussed long after affairs of
more ephemeral Importance have been dis
missed.
Today's Liquidation.
Fhe greater part Of today's liquidation
was apparently induced entirely by con-
sideration of the extent of the month s
rise in prices.
The stock market is still narrow and
susceptible of sudden change In tone,
according to the various shifts in at
titude on the part of large professional
operators. Consequently such appear
ances of irregularity and reaction as
were noticed today could not be ac-
counted as of any particular signifi-
canoe
Price movements in the market at
large were fairly uniform, although a
shares continued to display exception
ally strong tendencies. Cases IN point
were General Electric, Consolidated
Gas and Cast Iron Pipe. The United
Amalgamated Copper, American Smelt-
ing and the more active securities in
that quarter, moved in line with the
market at large.
London Dull and Irregular.
The London stock market was, as
usual with the progress of the fort
nightly settlement upon the stock ex-
change, dull and irregular. and very lit
lie was done here for foreign account.
Money market conditions were prac-
fically unchanged. and the associated
banks have recouped through receipts
of currency from the interior some
part of the large loss in cash they have
suffered by reason of the return OF the
treasury balances.
Considered as whole today's dealings
represented little more than logical
Reimbursement of technical conditions, such
as may always be counted upon after
protracted movement in prices In one
direction or another
The trading showed a sharp contraction
In activity in connection with the uncer-
tain tendencies of the market, circum-
stance worth noting of itself.
Scant attention was accorded to the
routine Developments of the day. includ-
Ing the earning statements and dividend
announcements.