Show FAILED TO HOLD HOLDOUT HOLDOUT OUT TO 10 THE TH END NO Wall Street Professionals Be Began Began Began gan the Day With Show 4 i S of Activity MARKET SOON SWUNG BACK PRICE FLUCTUATIONS NARROW AND A TRIFLE HIGHER New York Tork March 5 Professional op operations in the market were on a larger lar er ercale cale than recently during the early hours of ot the days session at the stock exchange Discouragement then over overcame tame came the traders again at the small response attracted by their efforts and shortly after midday the market had swung wung back Into lethargy The price fluctuations were narrow and the bulk of the days moderate business was transacted at prices higher than the closing dosing last night Traders were in Mined to operate on the long side of ot the market because of ot the scanty sup supply supply ply pl of ot floating stock in the market available for overcoming short con contracts contracts 1 tracts Added to this negative attraction of the long Ions side were several everal develop developments developments 5 ments In the news which was Inter Interpreted interpreted Y f as hopeful of or Improvement In business busness conditions The two leading organs of the Iron trade were agreed in the opinion that a slight and slow Im Improvement Improvement Improvement provement Is la occurring in that industry and Its Us allied branches The maintenance maintenance maintenance ance of ot the dividend of ot American Car stock tock and the showing of a surplus over the dividend requirement in spite of the failing off ort in net earnings was a contributory Influence in the feeling of confidence regarding the Iron outlook A modifying influence was the report of some shading of the prices of Iron In different markets and uncertainty over prices The stock market element had thrown off ott to some extent the fright of yes yesterday yesterday es over the Hepburn bill to tax stock transfers Assertion Ass that this plan was to have administration sup support support support port brought out a fl citation from Pres President President PresIdent ident last lost message to con congress congress cont t gress which was given general circulation j k tion about the stock exchange in which r i he said j V The great bulk of the business transacted on the exchanges is not only legitimate but necessary necess ry and extreme care are will wilt have to be e taken not to In Interfere Interfere Ini with this business in doing away with the type of op operation cratIon This quotation afforded some comfort i Lq the disturbed minds ls of the brokers The Ine reduction in the Bank of England Engla d do o t elal discount rate had slight effect abroad or here The Th accumulation of ot banking reserves In foreign centers and andIn andin andIn In this country Is Js recognized as haying been the common cause of ot declining trade tr de activity and evidence of or increasing increasing ing money supplies for this reason Is accepted with mixed sentiments An Item In the days news that gave grat gratification was the decrease In surplus of freight cars reported by the American Railway association the number re reported reported reported ported on Feb 19 falling faIling to compared with on Feb 9 An Another Another Another other reduction in the price at the lo local local local cal metal exchange had a depressing Influence fluence on the coppers An Important bank failure in Rio de do Janeiro had a dampening effect on such life as the theS S market showed The days uncertain movement ended with little change from last nights prices Bonds were irregular Total sales par value United States 38 declined U J per cent on call |