The Birmingham age-herald., 1908-03-18
PTOCK MARKET IS Sl, ON THE UP GRADE 5 eS Easily Advance to Higher E Figures
 / GENERAL SUPPORT GIVEN
AmaIgamated Copper Goes Higher On Buying Orders, and Other Stocks Fall In Line With Substan-
 tia! Gains for the Day.

New York, March 17.-There was some further speculative liquidation going on in the stock market today as a natural sequence to the active selling to that end In progress at the end of the previous day. The volume of the market dimin- ished considerably and the Tightening of the selling pressure before the end of the day opened the way to an irregular recovery. The rally was not entirely convincing to the speculative interest, and the later market fell into dullness and hesitation. The action of Amalgamated Copper was of large influence on the gen. eral course Of the market, and the evi- | dence of support in that stock helped the recovery. Not much regard was paid to the news. The decline was exemplified by the supposition that another message WAS soon to come from the President COIL taining a severe arragnment of corpora lions and capitalists, and the recovery led to a shift so far in this point of view Gs to the assumption that the expected mes sage was to be mild in terms and call culdted to assuage the dread of security holders.
 l by the Senate at Washington providing Tor an investigation of the extent to which national bank loans foster speculation in stocks had a somewhat disauieting eff feet, and was placed in the general cat egory of influence hostile to Wall street. While the price movement was downward, attention was paid to news items of a tenor unfavorable to the idea of business revival Reduction of wages amongst cot ton mill workers was an instance, as was also the report of labor difficulties on the Denver and Rio Grande. projected government prosecution against the Ches- apeake and Ohio kept alive the influence of yesterdays supreme court decision in the packing house discrimination cases.
 Yesterdays passage of the Crucble Steel preferred dividend was supplement- ed by some reports from the Pittsburg district of alleged renewed declines of rate of activity of the steel trade Tor the first half of March. Short selling by the bears in the market has continued, the signs of reaction developed yesterday and the necessities thus created made an Increasing mainstay for the market. With a recovering tendency the bears attempt ed quite generally to cover and helped in the rally. Another rise in the price of copper in London was an aid to the making of higher prices for the copper securities.
 There was a reappearance of 'deal' rumors in connection with the recovery in prices of copper affecting supposed high CT commissions of copper interests anu also plans of readjustment amongst the Hartman properties. Conjectures 1n which the trading element showed the greatest interest, however had to do with the sources of the money supplies, which were instrumental in last weeks rise in stocks and the further intentions of those yielding this effective instrument. The late tone was considerably unsettled by doubts on this question: but last prices were not widely below the best.
 Bonds were steady. Total sales, par value, $2,S24000.
 United States bonds were unchanged on call.