Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-04-14
Extremely Firm Conditions
Ruled This Morning.
IA FAIR BUSINESS VOLUME
Satisfactory Statements Of the Mer-
camille Agencies.
BANK STATEMENT FAVORABLE
Leading Features In Trading Anal
and Anaconda Copper-U. s. Steel
Notably Strong-Specialties.
Special pisnatch to The Star.

Special Dispatch to The Star.
NEW YORK. April 14.-This morning
stock market ruled extremely firm on a
very fair volume of business for Saturday
half holiday. especially when large pro-
portion of the trading element made use
Of the usual vacation over Easter. The
London and other European stock markets
continued closed today. There were no
Eovel developments relating to the anthra-
cite coal strike situation, but confidence
seemed to be again strong that some form
of settlement would be arranged within q
short time.
The weekly reports OF the mercantile
agencies upon the condition Of. the country's
trade were very satisfactory statements. the
reports coneurring in the view that there
had been4Httle impairment therein by rea-
son of the monetary stfingency which has
prevailed in Wall street 7fi'' :"
1t was the common expectation that the
weekly bank statement would make a very
strong showing, and 1t was believed that
last weeks deficit would be entirely wiped
out and that surplus reserves would be
restored to fair point. These views were
undoubtedly effective in the strength OF
the general market.
Leading features in the trading were
Amalgamated Copper and Anaconda Min
ing. The dividend on Amalgamated Cop
per will be acted upon next Thursday, and
It is generally expected that In addition to
the regular IA per cent rate there will be
a declaration Of "a per cent extra. The
United States Steel shares were notably
firm also. the buying In that direction being
based upon the forthcoming quarterly
statement of earnings of the corporation,
which 1t IS thought will establish a new
high record for the period
Other active features in this quarter were
Ice Securities American Smelling. Ma
tional Lead and Central Leather. Among
the speciaIties the Pacific coast stocks
showed aggressive strength on reports OF
competitive buying in the property.
Leading Railway Features.
Leading features of the railway list were
Reading, Erie Pennsylvania, Union and
Southern Pacific, Chicago and Northwest
ern and Southern Railway. but little news
OF novel gossip attended the dealings in
that quarter.
The bank statement made even more
favorable exhibit than had been generally
expected: The contraction In the loan ac-
count was reported at S23, 434, 600 an amount
which undoubtedly reflects IN part the lqul-
dalton of last week, which failed 10 De ois-
played In the previous bank statement Ine
increase in actual cash was $1,93l ,00o, a
sum closely in accord with the preliminary
estimates AS a result of the changes IN
the loan and cash items deposits decreased
sol $40 600 and surplus reserves rose w.
333. O0e.
This converts last weeks deficit of s., 568.-
600 into a surplus above the legal require
ments of s4773, COO. Surplus reserves in the
corresponding week of last year were S.
352, 600 In 1904 $27, 304 600, and in 1903 &c.
O0T 900. There was some surprise expressed
that the banks cash holdings did not show
a larger increase, In view of today's news
respecting the striking action taken by the
Secretary Of the Treasury to relieve the
monetary situation. according to the ofti-
cial statement made about Sl2,ooo'ooo soio
has already been distributed among import
ing banks by the subtreasury. This intelli-
gence was, of course, received most favor
ably, and, together with the strong bank
statement led to a further and general rise
in prices in the stock market.