Evening star., 1909-03-10
PROFESSIONAL TODAY
Stock Market Dealings in Light
Volume.
HIGHLY IRREGULAR TONE
Frequent Fluctuations for No Ap-
parent Cause.
MONEY MARKET UNCHANGED
Americans Heavy in London-Chesa-
peake and Ohio Strong Feature.
Tariff Revision Effects.
Special Dispatch to The Star.


NEW YORK, March 10.-Stock market
circumstances are governed by prevailing
conditions, and the outlook cannot be eX-
pected to vary materially from day to
day, hence the characteristic now being
presented are by no means remarkable.
The internal and mechanical circum-
stances of the market are of the thinnest
description. That is to say. the essential
elements of outside supply and demand
are almost entirely missing.
Necessarily the professional traders OF
the board room must maintain snow OF
activity in their scalping operations, anc
transactions of this description now fur
nish probably so per cent of each day
dealings.
The foregoing observation applied fully
to today's stock market. Business was
in light volume of thoroughly profess
sional character. and the tone of the mar
ket was highly irregular. advances and
declines following upon one another for
no apparent cause throughout the busi-
ness session
Advices from the west stating that the
federal authorities had abandoned the
prosecution of the Standard Oil Company
in the famous rebatinS case led to a mild
squirt of animation early in the afternoon.
but even the influence of that matter was
not prot acted The report of the Cop
per Producers Association showing a
large increase in tie supplies of the metal
hand, which showing was predicted
yesterday had little further influence
upon Amalg amated Copper stock.
Foreign Account Operations.
American shares were rather heavy
in the London stock market but oper-
ations here for the foreign account
were confined to the swing of only
about 10000 shares of stocks. The
amount disposed of had, however, some
Ill IL I,o
opening of business in view of the
narrow limits of the trading
After rather feeble rally another
decline set in. which was in turn
port of the abandonment of the gov
ernments case against the Standard
Oil Company. No other circumstances
of novelty could be adduced in connec-
tion with the course of the stock mar
ket.
Money market conditions We're un-
changed and no material alteration was
noted in the rates for sterling exchange.
Discussion was again largely taken up
with the various aspects of the prospective
revision of the tariff and the outlook in
that regard was again held accountable
for the negative tendencies of the stock
market and the equally negative state OF
the country's trade.
The stocks which might be supposed to
be particularly influenced by tariff re-
vision moved. however. in line with other
securities. including the United States
Steel issues.
Broadly speaking. however. the indus
trial group. as was the case yesterday,
showed less animation than the railroad
share list. Movements in the last-named
department for the most part were linn
tied and apparently of no particular sig
nifcance. Chesapeake and Ohio was ex-
ceptionally strong. but such leading is
sues as Union Pacific and Southern Pa
cific. ST. Paul and Reading, displayed no
well defined tone