Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-07
Traders Wait in Vain for Re-
ceSsi0n in Prices.
MARKET WELL SUPPORTED
Large Interests Appear Ready to
Absorb All Offerings.
LONDON GONE RUBBER MAD
Speculative Fever Reflected Here in
Spectacular Elevation of
u. S. Rubber.

Special Dispatch 10 The Star.
NEW YORK. March 7.-waiting for
reactions in the stock market seemed
during the greater part of today's session
to be from a trading point of view more
profitless than at any time during the
last ten days. In that period up to this
morning there has not been a reaction
worth the name. and from the opening
OF today's market until we'll into the
afternoon. at least. recessions from new
advanced prices were nothing more than
trifiins and inconsequential fractions.
The first quarter hour was altogether
the liveliest opening that the market has
had for many days. and. in fact, so
rapid an advancing pace was struck that
the trading element was confident that
gains would not be maintained.
AS a matter of fact. the ground taken
in initial dealings was not only held.
but in the subsequent forenoon trans
actions substantial further increases in
quotations were recorded. United States
Steel, Union Pacific and other issues Of
like class were influential leaders in
the resumption of the upward move
ment. and in some stocks, especially in
Steel common. large lot buying evinced
the disposition in powerful quarters to
absorb offerings without permitting i'm
portant setbacks.
Buying for New Account.
now becoming interesting Signs were
not lacking today that not a little buy
ing for new account had been created
by the continuous rise in prices last
week.
rtauze the speculative element Is apt per-
force to conclude that unless purchases
are made when the market is strong
there Is no hope Of profit. That this Is q
saying.
A curious feature Of the days dealings
was the spectacular elevation OF United
States Rubber. Presumably this was an
for rubber shares which developed in
London few weeks ago has spread to
other markets. Moreover. as the rubber
speculation in London has begun to man
don market, II is inferential that specu-
lative impulses at this particular point
OF time in the worlds history may be
rather strong.
Speculation Big Factor.
General conditions. statistical position
and similar weighty matters aside. the
speculative impulse is a factor which
has TO be reckoned with in stock market
considerations. After such violent and
abrupt contraction in quoted values rs
recently took place in Wall street one
would have been inclined to think that
nothing more than a moderate recovery.
with Q long period Of dullness following,
would have been possible thereafter, but
the Wall street phenomena of last fort
night or SO have negatived any such
supposition.
News which would account for the
price movements of particular stocks
was not much more plentiful today than
last week Rumors were copiousIy sup
piled. among others that the United
States Steel Corporations annual re-
port. to be made public before the an
nual meeting next month would be
such an exhibit of conditions as would
adequately explain the present course
or steel shares. So far az particular
price movements were concerned, how
ever. the stock market community he
trayed little curiosity in the matter Of
explanation. 1t took counsel chiefly of
the indications of the market Itself
that for some reason powerful interests
were ready. in view OF Wall streets
present comparative restitution OF
speculative holdings in the commission
houses. to countenance operations for
the rise.
Money conditions remain unchanged