The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1908-04-05
WALL STREET NOTES
Transactions in Wall Street
in Small Lots.
TRADERS TIRE OF ONLY TALK
Interest I'm the Erie.
which Has EngrOSsed Attention for
the Past Week-Market a Bit Re-
dictionary During the First Hour.
Railroad shares Sell slowly.

New York. April 4.-The first six trans
actions in the stock market to-day were
IN 1Oo share lots. or the smallest-sized
portions recorded on the tape.
The market was singular, even for
duh market. and gave promise, later full
flied, of a dull inactive. and uninterest-
ing market. Even the professional spec
ulatiou on the fate of Erie, which was
DIT keen in the closing hour on Friday,
subsidized TO almost nothing. The street
was tired Of talking and specializing on
q company which had engrossed attention
throughout the week, and seemed inclined
to 90 nothing except wait for actual de-
vslopments The rumor market was ex-
hausted.
A bit reactionary III the first hour.
the market recovered subsequently, prin-
cipally, it seemed, because OF the custo-
mary retirement Of commitments at the
weekend. There was little initiative TO
the trading, and nothing that could be
called q we'll defined movement OF any
stock in any direction. Though on ac-
tie activity in the stocks Of the coal roads,
6anciers of those stocks and railroad
men content with the companies were
much encouraged over the Senate COM
mittee report, recommending a suspension
of the penalty for violation of the COM
modify clause OF the Hepburn bill, until
the law can be tested in the courts
Attorneys for the hard coal roads have
repeatedly received assurance that Wash
ington did not intend to make a drastic
enforcement OF the law. until the estab-
lishment Of it's constitutionality by the
courts. The unanimity Of the Senate COM
mittee's report gives hope of speedy and
favorable action
The adoption Of the report will, Of
course, relieve every railroad owning coal
and ore properties Of one Of the most per
picking difficulties of the near future.
Delaware and Hudson supplied a novel
ty in its report for February, showing an
increase OF S1S,00O In net over February
of last year The report also differed
from most Of the others for February. In
showing no decrease in expenses The
gain In net was accompanied by a larger
gain in gross earnings
Throughout the week nothing occurred
to encourage investment in securities
Erie complications were disturbing to
sentiment A reaction from brief
period Of Improvement was noted in the
iron and steel trades, and. to a lesser ex-
tent. in copper. Reports Of railroad earn
ings were generally unfavorable Mer-
camille failures were shown TO be in
creasing, and the retail lines was re-
ported again to be waveTing.
Yet though the stock market was gen
orally reactionary. stocks were not
pressed for sale in large blocks.
There were few evidences Of forced
liquidation, and few stock market opcr-
ators ventured TO sell short in large
amounts II accordingly appeared that
the principal effect OF the unpleasant
news Of the week was 10 deter buying
and induce proft-takng rather than to
inspire liquidation in we'll informed quar-
ters or 10 tempt bear raids. ITufavOrable
though the news was, the market seemed
10 have discounted most of it,