Evening star., 1909-03-15
OPENED SHADE LOWER
Local Stocks Respond to
Weakness in London.
GONCERN OVER BALKANS
Firmer Tone and Advances Follow
the Opening,
SOME STRIKING MOVEMENTS
Exceptional Strength in Reading.
Rise in Consolidated Gas-Scant
Supply Of Stocks offered.
GONCERN OVER BALKANS
SOME STRIKING MOVEMENTS
Special Dispatch to The Star.

Special Dispatch TO The Star
NEW YORK. March 15.-Thc general
stock market opened fractionally lower
this morning almost wholly in response
to the weakness of the London stock
market, which latter was in turn de-
pressed because of a revival of uneasness
with regard to the political situation In
southeastern Europe. 1t would appear TO
be the case in fact that the concern felt
with regard TO the state of affairs in the
Balkans will be quite as acute as 1t has
been at any time since the latest reap
pearance of that perennial problem. All
quarters of the London market were weak
and quite heavy selling of securities for
continental account was reported.
At the outset of the local market foreign
houses were sellers here in desultory
way but inaSmuch their operations
produced no substantial effect they were
quickly terminated and in the aggregate
amounted only to few thousand shares
After the first few minutes of business
the dealings developed a much firmer tone
and substantial advances TOOK place III
u number of securities.
At the same time. considered as Whole,
the market could be described only as ir-
regular and there was little increase IN
activity over last weeks small totals.
Reading and Gas Features.
were those in Reading. Consolidated Gas
and Peoples Gas. Great interest attached
TO teday's session of the Supreme Court
at Washington, as it was expected that a
number OF important decisions would be
handed down, including, perhaps. the rul-
ing OF the court in the commodity clause
case" but as il turned out no decisions
at all were rendered. Presumably the eX-
ceptional strength in Reading was Jpere-
by accounted for.
A rise in Consolidated Gas was accom-
panied by rather haZy reports that the
management had in contemplation some
readjustment of the company's affairs,
hut the rumors in question did not take
any concrete form.
The bulk OF the days discussion was
concerned with the meetings of Congress
in extra session and with the consequent
guesswOrk and cOnjectureS as to the
scope of the revision of the tariff
schedules. The morning newspapers were
well supplied with forecasts of the prob
able alterations to be made, which at
aracted more less attention according
10 the individual source.
Copper Prices Weak.
The market for copper metal suffered
q fresh fit OF weakness. but Amalga-
mated Copper was but little affected In
consequence.
The pending controversy between the
anthracite coal roads and the United
Mine Workers seemed to be temporarily
ignored. and at all events was not
factor in the course of the securities most
directly concerned.
Comments upon technical market cir
cumstanceS laid the most stress upon the
scant supply of stocks offering for sale,
and this circumstance, coupled with the
existence of fairly extended short in
terest. accounted sufficiently perhaps for
the resistance which prices showed to
1oday's altogether favorable situation.
The chief facts of novelty in the general
sltua ton have already been set forth.
Money market and foreign exchange
circumstances showed no substantial
action