Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-21
Irregular Course Continued for
Price Movements Today.
PROFESSIONAL TACTICS
Little Commission Business and For.
eign Dealings Dull.
kUMOR ABOUT THE "PENNSY"
Reading and Union Pacific Excep-
tionally Firm-U. S. Steel Fig
ured Among Strong Leaders.
kUMoR ABOUT THE "PENNsY'
Special Dispatch to The Star.

special DlSpatch 10 i ne Star
NEW YORK. April 21.-Price move
ments In the dealings in securities today
followed the same irregular course that
has been pursued for several weeks past.
Upon occasions the market was strong.
and upon others weak according as
prices responded to such professional and
manipulative operations as were in prog
ress at the time. OF commission business
there was little or none. and operations
here for foreign account were also virtu-
ally at standstill.
The resumption of business upon the
London Stock Exchange, after the pro
tracted holiday there. was accompanied
by a fairly general. although not material
decline in prices for which no other rea-
sons were furnished than the renewed APP
prehensions with regard to the labor stu
alton on several of the important Eng
lish railroads.
: The local speculation found a mild in
centive in yesterdays meeting of the
Representatives of the railroads east of
the Mississippi and north of the Ohio
held for the purpose of arriving at some
agreement for an advance in freight rates.
1t did not appear from the puoiished &C
counts of the meeting that any practicable
conclusions had been reached. nor would
1t appear that the present Is a particu-
larly suspicious time for such an under
taking. desirable as It might be from the
wise the days discussion was again main
ly occupied with the various aspects of
the political situation, with some admix-
ture Of talk relating to the likelihood of
rent year.
Discussion Over Railways.
There was also much conjecture as to
the decisions to be reached by the man.
: agements of several railroads upon the
dividends shortly to be acted upon. This
waS particularly true in the instances of
Pennsylvania and Norfolk and Western.
but neither stock was particularly af-
fected in consequence.
rather curious rumor was current
during the morning that announcement
might soon be expected OF some new
!. financing on the part Of the Pennsylvania.
i. trail might perhaps be referred to this
mornings announcement Of the applica-
TON OF that company to the public service
cemmission for permission to issue addi-
fional mortgage and debenture obligations
10 the amount Of $24OOO,OO0. Reading
and Union Pacific. which were the leaders
or the railroad list as usual were excep-
= tionally firm.
Early Declines Recovered.
: The United States Steel shares showed
certain degree Of pressure in the early
Part OF the day. but later In the session
they were plainly the leaders in the firner
tone assumed by the market at large.
The Republic Iron and Steel stocks like
wise recovered goodly portion of an
, early extensive decline.
The quarterly statement of the United
f.: states Steel Corporation will be made pub
NC week from today, and the dividends
WIN De declared upon both classes of the
! stocA az the same time. The industrial
! and miscellaneous shares in renarnI nnovad
ifregulariy. the usually active issues being
nIm. while National Lead and General
Electric declined smartly.
, Dealings In the local traction serur,t,a.
were somewhat featureless in spite OF the
group ~ '"@'
Money market conditions were I'M
altered. and sterling exchanxe cont;r,,aS
nrm The indications pointed to further
larry large exports Of sold to Europe be-
fore the close Of the week.