Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-03-16
EXTENSIVE ADVANCES
Today's Dealings Similar to
Those of Yesterday.
OPENING WAS IRREGULAR
London Depression Over Balkan
Situation Continues.
MONEY MARKET UNALTERED
Union Pacific and Peoples Gas Led
the Active List-Marked
Scarcity of Offerings.
MONEY MARKET UNALTERED

Spectral Dispatch 10 The Star.
NEW YORK March 16.-Upon a num-
her Of occasions during the past few
weeks the stock market has closed under
The same circumstances that prevailed In
yesterdays final dealings. After having
ruled firm throughout the business ses-
sion-in other words, a sudden break in
prices would take place. such as was wit
messed yesterday afternoon and for no
more well defined reasons than were pre-
scented then.
The character of the selling leading to
these closing reactions has been pre-
viously revealed and it was disclosed
again this morning. when, after a slightly
irregular opening. the stock market moved
Up in all departments with number of
securities showing really extensive adj
vances-
IL was somewhat curious, but neverthe-
less interesting that the strength OF the
stock market today should have been re-
ferred to the beginning of the work of re-
yising the tariff \ common idea APP
peared 10 develop that the very worst
that might be expected in the undertaking
of tariff revision would be known as soon
as the report of the ways and means
committee was submitted to the House
and that in all proba bility there would
take place in consequence quick revival
Favorable Impression.
1t should be added that most favorable
impression was created by the succinct
but nevertheless fully comprehensive spe-
cial message of the President to Congress.
Comment was practically universal and
10 one effect upon its brevity and direct
ness as contrasted with the communica-
tons of a corresponding character of his
immediate predecessor.
The London stock market continued
more or less depressed on account of the
uneaSineSs in regard to the Balkan Sltua-
ton. A general rally took place there,
however, before the close of business and
the operations conducted here for foreign
account We're again in negligible volume.
The foreign exchange market was very
firm in the early part of the day, but re-
Taxed somewhat with the course of the
afternoon. possibly because of the offer
ings of the bills In connection with fur
Their exports of gold
Startling Trade Exhibit.
The complete monthly statement of the
bureau of statistics of the department of
commerce and labor upon the country's
foreign trade. for February, made a real
~ startling exhibit and threw a great
deal of light not only upon the state OF
the foreign exchanges. but on the other
hand was somewhat perplexing in its re-
latiOn 10 the cOndltlon OF the government
revenues.
Leading Features
Importations of merchandise increased
S3.sOO,tO0 over those of February, 1908,
while exports of our products decreased
more than Si1OO0.OOO.
Consequently the excess of exports for
the month was only s1,4OOo00, as against
SIS, 100000 in the corresponding month of
last year. For the eight ended months
of the fiscal calendar the excess of ex-
ports was shown at S341.0U0,OOO as
against S520,0OO.0o last year.
Money market circumstances were prac-
tically unaltered.
Leading Features.
The leading features of the stock mar
ket in respect of strength and activity
were Union Pacific, Reading Northern
Pacific, Erie. Peoples Gas, Sugar REIN
ing, the United States Steel shares and
American Smelling. Amalgamated Cop
per likewise enjoyed sharp rally.
y marked scarcity of offerings of stocks
was again commonly reported. which cir
cumstance together with the extensive
borrowing demand for stocks indicating
specifically, al least, the existence of a
large short interest, probably accounted
sufflclently for the general course of
prices, III the days market