The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-03-09
WALL STREET NEWS
Market Has Day of Heavy
Realizing Sales.
NOT UNUSUAL FOR TUESDAY
Radical Change in Speculative Tenn
per of the Financial District Evil
dent from the Tone OF Prices and
the Activity Of the Various Issues.
Strength OF Steel Common Feature.

New York. March S.-Heavy realizing
sales were, of course. induced in to-day S
stock market by the rapid rise in prices
yesterday and in the immediate past. In
such markets as has been witnessed re-
Gently. Tuesday has almost invariably
proved a day in which realizing sales
occur and when not infrequently tne
market recedes. Reason for this may
be largely. connected with the place of
the day in the order Of the days Of the
weeks. inasmuch as upon an advancing
market both the end of the week and the
beginning OF the week are apt to be
times when strength is exhibited, leav-
ing proft-taking 20 follow upon the day
succeeding.
Many spectators, observing this, often
select Tuesday morning as a time in
which to make brief commitments for
the fail. even II they believe the general
tendency of the market Is upward. Curl
ously enough, however, although the
events OF to-day furnished no exception
to the general rule as regard professional
liquidation. yet the volume Of profit-tak-
10 stem the days advance in prices.
Realizing Continues All Day.
Realizing went on from the beginning
OF the day to its end. but the buying
impulse in the market was greater still,
and its result was to again leave prices,
or az least those OF most OF the leading
stocks. at an advance.
There is very little doubt that all this
indicates that a radical change has come
over the speculative temper in the dnan-
cial district. The temper may again
change. but its place here is not open TO
question People are obviously impressed
with the fact that business in the eoun-
try still keeps sound and prosperous.
that the general forces OF conservatism
and common sense asserting themselves
as superior to those of radicalism, that
the outlook for the crops is excellent, that
there are strong indications that the high
cost Of living will be somewhat reduced
in months TO come. and that such labor
troubles as have recently been noticed
over the land are in the way OF a salts
factory adjustment.
Sterling exchange was again weak in
ieSpOHSe presumably 10 the UGFeiOpueut
OF decidedly easier money conditions in
England and to the effect OF the very
heavy purchases of American investment
securities lately made by foreigners.
London Market Active.
In the London stock market the ex-
element over rubber shares went on I'M
diminished. The strength Of the United
States Steel common shares was once
more to-day the particular feature OF
the market. even II the advance Of the
stock was not as great as it was on the
day before.
Another Industrial stock whose rise at
tracted attention was American Cotton
oil common. and the movement here was
doubtless due to anticipation understood
TO be wen founded that dividends on the
stock are actually to be paid semi-an-
nually. beginning in June. at the rate
Of 5 per cent.
Toward the close Of the afternoon the
government estimate OF the quantity of
wheat and corn In farmers hands on
March ! appeared. and it led to a rise in
the grain market. which has been under
the severe speculative pressure recently
because OF expectation that the estimate
would be exceedingly larger.