The Washington herald., 1909-03-11

New York, March 1o-To-day's stock
market, strictly so considered. was as
undeserving of serious comment as was
that Of yesterday. although the course or
prices on the two days was radically
different. Developments to-day made It
well nigh absolutely certain that the
sharp drop in prices in the late afternoon
Of the preceding session was due TO a
drive" made by spectators for the fan.
and the sole meaning OF the days market
was that these same spectators busted
themselves to-day IN recovering the
stocks that they sold yesterday.
In this respect. however. the current
action Of the market is worthy OF notice
in that it displays no trace Of real nqul-
dalton In any considerable quantity The
frequent bear raids do not serve the pur-
pose Of dislodging stocks, and dull and
apathetic as it is the market holds It's
own wonderfully well.
Effort to Depress Values.
At the opening OF business there was
a brief continuation Of yesterdays effort
20 depress values. the attack centering
as before on Analgamated Copper and
United States Steel; but after this at
tempt the pressure was lifted and the
whole market turned upward and moved
IN that direction for the remainder Of the
day. Especial strength was manifested
by the Chesapeake and Ohio. Columbus
and Hooking Coal and Iron. Chicago
Northwestern common. and one or two
other stocks.
Probably prices would have advanced
anyway; but nevertheless, the prevail
lnS complexion OF the days news was
favorable II Is admitted on ali sides IN
the Dig financial district that business
over the country at the moment is being
held In check by the tariff agitation. and
Il is declared in all high financial circles
that the one matter that will help bust
ness and the stock market more than
anything else VIII be speedy pushing OF
the new tariff measure TO enactment
There was substantial ground for graft
fcation, therefore, az the indications af-
forded In dispatches published in ali the
morning newspapers that the progress OF
the tariff bill IN Congress is not likely
TO be delayed by pickering In the House
OF Representatives over the adoption
Of rules governing that body and by sim
liar disputes whose settlement can Just
rs easily be postponed until the open
sion IN December.
Copper Stocks Rally.
The Amalgamated Copper and the
shares Of the other copper metal mining
companies rallied to-day upon the publi-
cation Of the figures OF the Copper Pro
ducers' Association, showing metal stocks
Of 100000 pounds in the United States
On March l. an Increase Of 100000.
pounds over stocks on February J. This
was not such a large increase as had
heen confidently predicted yesterday. and
especially as It became known that the
statement did not take into account the
great quantities OF copper recently sold
bur not delivered. Many Of these sales
tco. have occurred since March 1.
The final dismissal this morning by the
Judge in the United States Court in
Chicago. sitting In the retrial Of the
S29. 000,000 fine case brought against the
Standard Oil Company. was regarded
with no great amount Of attention in
Wall street since this outcome of the
proceedings has been regarded as fore
gone conclusion ever since the reversal
by the United States Circuit Court oi
the famous decision Of Judge lands al
the former trial.