Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-03-16
Upward Trend Continued After
Irregular Opening.
DEALINGS PROFESSIONAL
Commission Business Less in Volume
Than Last Week.
SENTIMENT WAS BULL1SH
Many Bear Traders Switched to OPP
posite Side of Account-Union
Pacific Led the Advance.
Snccial Disnateh to The Star.

Special Dispatch to The Star
NEW YORK, March 16-Without spe-
cial influence other than influences when
have been common to Wall street DISCUS
sion during the week just passed. the STOCK
market after somewhat irregular open
ing continued its upward movement TO-
day. The dealings were. however, largely
of professional character. and the hls'-
ness of commission houses was less In
volume than during last week.
The impression continued to prevail that
favorable developments would be forth
coming from Washington soon in the
matter OF tho indication of legislation
looking to an amendment of the Sherman
antitrust law giving more leeway to
railroads in the matter of pooling in
,errsts. and at the same time there was
some talk of modification of the hostile
attitude of the administration against the
Hartman interests.
The recent announcement of the pro-
posed suit in the case of the Oregon ana
California railroad land grant and the re-
port that liquidation Is To be begun To
dissolve the relation between the Union
Pacific. Southern Pacific and San Pedro.
Salt Lake and Los Angeles railroad do
not superfirially indicate that the latter
report has any groundwork of TACT. some
attention was paid to a reported state
mept by the president of the New York,
New Haven and Hartford that dividends
would he out in the case of that corpora
ton before wages were reduced or
freight rates advanced. but it was not
alarming as a market influence.
Short Interest Reduced.
Speculative sentiment was distinctly
bulIish and many of the bear traders have
switched to the opposite side of the ac-
count Undoubtedly the short interest
was considerably reduced during the ad-
vance of last week. but the operators for
rise worked on the theory that this ac-
count was still very large. Union Pacific
was the leader of the advance. moving up
rapidly from the start. ST. Paul. Mis-
souri, Pacific. Louisville and Nashville.
s-.,eIters and Northern Pacific likewise
scored sharp advances. but there was no
special gossip that could be named as be-
ing responsible.
This morning the stockholders of the
Delaware and Hudson received checks in
payment of the dividend. which probably
had as much as anything else TO do
with rise of two points, in this stock.
A notable feature was an advance of
over three points In Republic Iron and
Steel preferred. which was generally at
tributed to the operations of a newly
FORMED pool. j ne lnlteO states steer
stocks, however. did not share with any
prominence in the general strength. Steel
common. selling ex-dividenf. was unable
to recover the difference and ruled gen
orally at a price closely equivalent to
Saturdays close. The passing of the
Crucible Steel dividend had little effect
upon the market except 1t aroused
some concern as to the position of some
of the independent steel companies.
Copper stocks were likewise hesitating.
and although in the London market Ana
Conda was the strongest feature of the
American list there was little response
in the local price. Brooklyn Rapid Tran
sit sold off without special reason. The
advance as a whole was well maintained
until the afternoon. when a disposition
on the part of professional traders to
take profits caused slight setback.