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Show for lower freight rates on ateel products pro-ducts and unnumbered other phased of the problem were much talked of in the excited stock market. Foreign For-eign steel industries were as much disturbed as the owners at home and sent homo heavy offerings to the market. mar-ket. .Tho copper stocks camo In for prev sure almost as Bevere late In the week, although they showed some stability at first. Tho demonstration of the utility cl the great control In separate Industries Indus-tries aa a means to obviate the former form-er convulsive upheavals in the process pro-cess of adjustment of changed forces of demand and supply threw all tho Industrials Into some disfavor. The railroad stocks were late in yielding to the weakness and arguments argu-ments were offered of benefits to accrue ac-crue to them as consumers of steel materials from the cheaper prices Tor them. Other influences ultimately broke down the railroads, the most important growing out of government prosecutions. The undisturbed ease, of the mony market was Ineffectual to save the stock market from lti periods of demoralization, but was an important factor in the comparative Immunity enjoyed by the bond division di-vision from weakness. The banks met easily the very heavy demands upon them, including the withdrawal of tho J30.000.000 government gov-ernment deposits recalled by the treasury department A large part of this payment was effected by the Interior banks by drafts on their New York correspondents. The week oit-go oit-go of gold to South America alno proved large. Bankers are not without with-out expectation that the money rates will be affected In the future by the.-ie factors. I FINANCIAL REVIEW OF PAST WEEK . New York, Feb. 28. The stock market last week underwent a further fur-ther final readjustment to new conditions condi-tions in the steel trade disclosed by throwing open of the market to eager competition for business, and the week was filled with turmoil and confusion. con-fusion. While It was not clear that the readjustment had been completed at the close of the week, obviously much had been accomplished toward, that end and substantial rallies had followed. Estimates of the future continued very .conflicting. Uneasiness over the copper trade and, by inference, other metal trades was added to the puzzle of the steel developments. The no-ceslty no-ceslty for a violent cut In prlceB and a damaging scramble amongst producers pro-ducers to bring new business came apparently as a shock to speculative sentiment. This shock appeared to be felt by Important Interests and tho character of the stocks gave the Impression of very substantial liquidation. liqui-dation. This caused a belief that tho new conditions were unforseen by the leading steel interests and that thoao Interests had cherished a genulue hope that the centralization control which has been achieved In the stoei Industry would bo able to obviate the usual course of unsettling price movements, move-ments, which have accompanied previous previ-ous periods of depression. v Wage reductions, possible strikes, tho danger of prolonged stagnation In j tho trade awaiting the framing of tho new tariff of duties on steel, tho probability prob-ability of demands ou the rallroadi |