Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-23
MARKET IS L|STLESS
Quotations Only Slightly
Changed by Light Trading.
ATTEMPT AT DEPRESSION
Efforts to Send Prices Down Re-
ceive Little Encouragement
MONEY CONDITIONS STEADY
Result of Congressional Election in
Massachusetts, Generally Attrib-
uted to High Cost Of Living.
ATTEMPT AT DEPRESSION
MONEY CONDITIONS STEADY
Special Dispatch to The Star.

special D1epatcn 10 Inc SidI
NEW YORK, March 2s.-If the stock
market community wanted to give the
governors OF the stock exchange an OBJ
iect lesson in the desirability of granting
the petition for a two-day holiday re-
cess at the end of this week. today's
market would be sufficiently explained
thereby. II was a market which mani
Tested the istless and apathetic indif-
ference of the stock market following
toward the present position of securities
and the present level of prices. The ul-
tra-professional trading element on the
floor OF the exchange and elsewhere con-
tinued to churn quotations about within
a narrow range, but little attention was
attracted to price movement and vsry
little interest was eXh' bited in the in-
mediate outlook for tn. ma~cet.
On the whole, the list had a rather
heavy tone. but in the early part OF the
afternoon the net result Of the moderate
volume of business transacted up to that
time was to change the level OF quota
tions by only slight fractions from last
nights close Speculative purlieus were
filed with ominous whisperings of i'm
pending attacks on quoted values. but
although circumstances indicated profess
olonal hostility. either the rank and file
OF spectators had not much stock to sell
or else was not easily to be frightened
out of its stocks, for efforts to depress
prices received little encouragement or
assistance from liquidation
In short the market was dull for most
OF the day and very much the same
kind of a market that has obtained for
the last week or ten days. Not much
of it was to be said in general and
nothing at all in particular.
The report was current that the Bal
tfmore and Ohio had sold all it's hold
ings of Reading, amounting to $2O,-
Of OF nd
100000 of the common stock. a Phila-
delphia syndicate being reported the
purchaser. but no confirmation Of the
report was obtainable and the stock
market furnished no clue as to its
truth or falsity.
City Bonds Sell OFF.
New York city bonds. both new and
old. sold of from the figures which they
reached yesterday and for the moment
the bond market seemed to be as dormant
as the stock market.
SO far as the dealingsin stocks had any
feature, it was the pressure applied to
served to convince some observers that
there was merit in the suspicion of
speculative Wall street backing for the
persistent efforts of Gompers and his
allies in the American Federation of La
Dor to have the steel corporation prose-
cuted under the Sherman law.
If the gentlemen whose time and wits
are now engaged in endeavoring to change
the prices of stocks from hour to hour or
day to day, were likely to be interested
in matters of real Importance. they might
have assumed that until the Sherman law
receives the final construction for which
the American Tobacco and Standard Oil
cases furnish the opportunity. no other
spectacular proceedings against corporate
organization was likely to be taken by
the present administration.
There would seem to be implicit faith in
the various avowals which have Deen made
that the administrations course would be
largely dependent upon the outcome Of
the two cases in question. Nor does there
seem to oe any reason to fear change
OF policy as a result of political disrup-
tion. What the country seems to be In
terested in at the moment is not corpora
lion batting, but the cost of living
Cause Of Republican Defeat.
At all events. that was the construction
placed today in important quarters in
the financial district on the overwhelm-
ing overturn in the congressional cleo
ion yesterday in the strongest republican
district in Massachusetts,. Moreover,
nf. Taft has himself seemed to indicate
by the line of his public addresses lately
that he realizes that the tariff issue is
the prospect of a violent tariff campaign
next fall will make for business unset
Element is another question.
Money conditions were comparatively
unchanged. The call loan accommodation
ruled around Us per cent Foreign ex-
change was easier. declining to 4.S7 for
demand sterling in the early dealings.