Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-04
Money Conditions the Absorb
ing Topic Today.
NOTABLE EARLY ADVANCE
Continued Stringency Disappointing
to Spectators.
STOCK PRICES WERE IRREGULAR
London Was Steady-Real News OF
the Day Was Confined to Earn
ing Statements.

Special Dispatch to The Star.
NEW YORK. April 4-Money marke.
conditions furnished the absorbing topic Oh
conversation in Wall street today WINE
considerable sums were put out during tfe
morning at GU and even at per cent. rates
advanced early in the afternoon to ~ per
cent, figure not often touched SO carry IN
the day In the prevailing general circum-
stances. The low figure of per cent which
was quoted during the first hour was not
as matter Of fact a real reflection OF
money market conditions. but represented
merely the loaning by one institution which
never accepts higher figure for its money.
The continued stringency In the money
market was very disappointing to specula-
tive Wall street, inasmuch as it had been
expected that a material relaxation would
be evident by this time. Yesterdays cur
rency shipments to the interior were par
ticularly heavy, however. and the banks
reported loss in their operations with the
subtreasury up to this morning OF $3,644,-
0o0
Such heavy shrinkage In their cash
holdings naturally involved general cali
ing in of loans, which process was indeed
actively conducted during the customary
period.
Rates for sterling exchange gave dis
appointing response to those which were
quoted IOr money
Irregular Stock Prices.
The days stock market was again irregu-
lar. and for the most part heavy. yet In
view of the prevailing monetary conditions
and the unsettled state of the labor stua-
ton In the coal regions. it might be said
that prices showed a remarkable degree
of resistance to unfavorable circumstances.
The London stock market was very steady
I'm O dane .rrnny ot ms
that there might be reduction In the
Band Of Englands rate of discount at to-
morrows meeting of the governors.
Good Earning Statements.
The days real news relating to particu-
lar securities was confined to earnings
statements and dividend announcements
The usual semi-annual dividend of per
cent was declared upon Atchison common,
to the disappointment, apparently, of spec
ulators in that stock. The anthracite coal
shares were relatively firm, notwithstand-
ing the results of yesterdays conference
and the now general impression that to-
morrows proceedings will be similarly
abortive.
The bituminous coal shares moved ir-
regularly, with exceptional strength in
Baltimore and Ohio.
, In the industrial and miscellaneous is
sues degree of irregularity was shown
corresponding with that displayed by the
railway ISL ANlalBdinateO copper WIS
decidedly heavy during the early part OF
the day, but in common with the re-
mainder of the market, showed hardening
tendencies In the Afternoon. Colorado Fuel
and Iron was weak on the announcement
of the new Issue of securities by the COM
pany.
The United States Steel stocks moved
within a narrow range of prices on large
transactions and Consolidated Gas show
ed better degree of support than has
been apparent in that instance in several
weeks. The outturn of yesterday munich
pal elections in Chicago was favorably
received but had little actual effect upon
the securities particularly concerned.