Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-03-21
Market Shows Light Volume
in the Dealings.
STRENGTH OF RAILWAYS
New High Record Price for Reading
and Other Issues.
BROKERS IN WAITING PERIOD
No Pressure of Stocks for Sale, No
Stimulus of Eager Buying
Manifest.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 81. Stocks recov-
sred Saturdays decline in the forenoon
dealings today. The opening was quiet
and rather heavy. and the subsequent
dealings were desultory and in light vol
ume, but prices hardened quickly and
rose easily on a moderate amount of
buying. Particularly strong features
were n. and W.. which sold at new
high record price. Reading. Southern
Pacific, c. and o., Brooklyn Rapid Tran
sit. Interborough and NEUTRALITY-SUSPICIOUS.
Chemical L. S. Steel. the railroad
equipment stocks and the copper metal
stocks were firm. Some irregularity was
impaired to the price movement by heavi-
ness in Illinois Central, Chicago and
Northwestern. st. Paul and some OF the
Industrial and miscellaneous issues.
Causes Are Located.
Explanation was not far to seek for the
course OF particular stocks. The strength
Of Chesapeake and Ohio and Norfolk and
Western was commonly related to the
new financial undertakings with which
those stocks are identified. Western
Maryland on the other hand was unfa-
vorably affected by the announcement
that authority for the issue having been
obtained from the state legislature, some
S25.OOO,OO of new stock, the proceeds or
which were to be used for new construc-
ton, would be sold to the stockholders at
80.
A circums tantial report was current
that the Atchison proposed forthwith to
issue between sos OO0O and 1000
more of its per cent convertible bonds.
For the time being the fact that the
investment demand has been strong
enough to encourage so much new
financing as has been projected or un-
dertaken is hardly a bearish point on
stocks. The validity of this conclusion
seemed to be recognized by the stock
market community this morning, for
ST interest to the developments at the
:ity bond sale this afternoon, indicat--
Ing the character of the investment
capital available for investment.
Although it has become fashionable
n some critical quarters lately to de-
ride the notion that the stock market
construction Of the Sherman law In the
American Tobacco and Standard OIL
cases, or upon any other developments
FOR that matter. it is becoming clearer
waiting period.
s., Market Without Pressure.
There is no pressure of stocks for sale.
neither Is there any stimulus of eager
ouying There will be no way Of know
ing whether or not this period OF hesi-
.ancy is owing more than anything else
to the considerations involved in the
Sherman law litigation until after the
,ourt has handed down one of the pend
ng decisions. When it was announced
around today that no decision would be
forthcoming this afternoon and that the
court would take a recess until April 4.
he market was not obviously affected
one way or the other. Neither, for that
matter, was it apparently swayed by other
Developments over Sunday. including the
POLITICAL events at Washington or the new
,eatures of the labor situation.
Although foreign exchanges showed re-
lewed firmness, the local money market
showed no other change. Call money
-uled at from 2% to per cent.