Show MARKET STILL I PROFESSIONAL I Small Fry rry the Only in the ns C t SOUTHERN SOUTHER PACIFIC PA C IN LEAD I 4 THE rID T CLOSE WAS EAST BAS AT A LESS LESSEN I EN TOP I I New York IT ato sto to k I market was waa fairly in the hands bands of o pro pJ operators otora and these for the most t I part pert of the smaller clan class The whole market was wu dominated by b Southern P p The manifest t support for fol that stock k kand and the cessation of yesterdays yesterday pressure against PSt Union Pacific caused a check chock to Ii the die early selling HI here and a gradual re ye recovery covery ensued The realising at al a the last took the tb top t p I off oft prices and the closing ca nc was w easy Dur During DurIne During ing Ine the unsettled period of the morning q there was continued l pressure to sell aeU New NewYork NewYork NewYork York Central carrying that stock down Wn d almost a point The persistent slow alow liquidation dation in tn this W stock has baa a very depressing effect on the whole market It Is variously explained as being due to toul sales ul against expected privileges to sub nub subscribe scribe aibe to new MW stock or to the general con conviction conviction that with money at r per r cent c cI railroad mb stocks are on a too I high bleh basis buts New York Central recovered with the re t reSt t of ot the list ll and nd there were e eI some mme sharp harp rallies from froIA the recent de dc d I In Northwestern the local gas p stocks toeD and a number umber of specialties Read Reading log line was waa a center of some positive strength which was w attributed to the I expectation of a favorable snowing showing on onI I February net earnings The renewed ad advance adI advance I vance in the London copper market led to a revival of the demand for Amal Amalgamated Amalgamated teet Copper The recovery in ID the th I Pacifies Pacific was followed by bJ the announce announcement announcement ment that the speculative pool in South Southern I ern era Pacific bad had been Men extended from April APeD 1 the original date of or Its maturity to I April 10 Speculative S sentiment seemed ed I to be as much confused by b this tb announce announcement announcement ment mont as ae by the previous moves on ott the part of the pool It has bas been feared that the coming dissolution of the pool would lead to the throwing over OVe of ot some heavy bea offerings of ot stock On the other hand Its It ts continuance will wilt Involve the further tying tyla up of large credits credit The extension also abe a aI I has b the tendency to increase the weight I from a stock tock market standpoint of the Ole litigation extended on behalf of the pool of the Union Pacific control of ot Southern Pacific Some favorable effect was w pro JIO produced produced by the conference undertaken be M between tween the officials and of tb the New Haven Hven system sy tem for tor an n adjustment len of oC oCI the labor dispute c Money MOMY was wu somewhat easier with 6 per peT percent I cent rent the tb maximum rate rte for call loans and nd a decided softening of ot the market mark t tI I after alter the principal demand bad had been met The be established a gain pin of something over from the banks ban bankson banon I on the operations since nee Friday thus wi wilne wiping wip t ing lne out its It contribution of yesterday to the local money supply auppl but the rate of I absorption by the government Is I much less lea than It I was last lut week On the other I hand there was wu a very substantial rise riM In the foreign exchange chance ex rate With the th relaxation of ot the money mOllY pressure here bere bereI I and nd a hardening of money rates rate in Ber Bar Berlin BerI Bartin lin tin and Paris Part there theN Is to said aid to be bt less leu in inducement inducement I for the tbt placing of ot foreign funds fund here be For whatever reason the foreign exchange market Is now practically bare of or loan bills so that the demand for tor re remittance bad had been sufficient to cause auae a material advance in the exchange rate The bond market was w dull and irregular Sales par pr value StOIl United States Itt bonds registered Is declined on the last Jut I call adL |