The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-04-02
BULLS TlM|D,BUT
Make. FIRM
Tone Remarkably Strong iii Spite
Of Declaration 81 Coal N.
Strike.
TRADE CONDITION Il EXCEL !, LENT i
Rather Phenomenal Showing
Made BY RailWays--Thc
Bank Statement.
TRADE CONDITION EXCELLENT

@ (special to The Times. Dlspatcll)
NEW YORK. April 1.ll'ears Of iii OK
tct,sive coal strike It, both the anthracite
and l,itun1inous regions served to check
bull sentiment in tho stock market dur
ing the entire week, and o rise In call
money rates to per Gent, on Thursday
and Friday added to tile timldity Of the
bills, although 1t was fully recognized
that this furry was only temporary, aud
w1s caused BY preparations for tho heavy
disbursements estimated at 1000, 600, to
ibe made nj the end OF tho NTH. AS an
Offset to these bcarisll factors, the nn-
nouncenent that m agreement had been
arrived ut at Algeclras was OF no little
Importance, as the complications which
might have arisen from disagreement
there were looked upon by tho largest
i1,anleing Interests with considerable ap-
snrehension.
III Unjust DO said that the market, III face
;pt! The threatening coal strike, and, IN
,fact.s III face OF an actual declaration OF
q Strike III tho anthracite regions, acted
With remarkable firmnesB. The undcrtone
at all times was strong. and any de-
clines we're followed by Quick rallies.
Central Stocks.
Reading took tho lead In the early
ma RI OF the week. and in a short while
ran up over eleven points above the low
figures OF q short while back. This firm
ness was followed by great strength IN
Union Pacific, which probably exercised
more 1nnuence on the market than any
other st ock.
Among the specialties, Colorado Fuel
d.3Iron, and Ice Securities advanced
sharply, while Brooklyn Rapid Transit
was we'll supported by the pool and
,cached the highest price touched In some
time. II
n In tho Lalance 5of the market the only
individual feature OF interest was a sharp
break, necr& the end Of the week, In Con-
solidatad Gas, which during the early
days, Ind scored a good rally. Specula--
live S. r1;nent still continues bear1sh on
this stock, and much lower prices are
Lred:ctetl.
Time money; which showed a somewhat
5eassiorStono early in the week. hardened
al,nil 4,WIler the call money rate ran up
above per cent, and 1t may be said
that in this department the net change
for the week has been very trifllng.
General Conditions Good.
After an irregular opening. OH satur-
day, decided strength developed In Union
Pacific and United States Steel, and UNI
der this leadership the market made good
advances in most issues. Short cover.
ing was in evidence, &and after the ap-
DC arance OF the bank statement, more
LH:ying for this account was noted Al
though there was more or less profit
/, taking in the Hast few minutes OF trading,
4 a very good demand for stocks was
apparent and closing prices were at
about the best.
In general business the situation re-
mains unchanged, and conditions are all
that could be desired. The steel bust
ness, which n few weeks ago showed some
slackening, has again improved, and the
steel Corporation is probably doing bet
ter at the present time than at any SINH
lar period OF the year In Its history
Railroad earnings have been simply
phenomenal, as they have had. In addl-
ton TO the enormous TONNAGE I. oiter'l,s. q
winter III which weather conditions have
boon ,,nprecedently favorable to cconolnl-
cal operation.
Bank Statement.
The decrease in loans shown In the
s+ntement OF $3.50. 100. was expected as a
result OF the large loans mado through
exchange operations Tho decrease ~
"a ali Of S3,427, 700 is only a little moro than
half MS much MS tho loss of cash indicated
nv the reported movements IT currency
The decrease In deposits OF sS1S0,soO Is
81 SPA. 400 more than thesHu OF the de-
crease in loans and cash,
The reserve required Is s21a5.2co less
than last week. Dcducting this from the
loss in cash. the surplus Is diminished
sThe surplus now is $5,1a1.275, comparing
with ss,66l,575 In 1905. se7.755,o50 In 1904,
81 13Ose5 in 1908 s2,G,9,52a In 1902. $3.50 80
in 1901. sa,s3G.15O In 1900 and $lo'4ol $40 IN
1890, not counting reserve against united
stntcs deposits, the surplus lis $s,0GG,0oo.
TusKEGEE CELEBRATION.