The Washington times., 1908-04-19

NEW YORK. April 1S-A review or
the stock market for the past week
would be a matter OF ancient history.
no session Of the Stock Exchange hav-
ing been held since last Thursday. Nat
urally everyone is more interested I'm
the future than the past.
The total sales Of stock from SatIr-
dav. the nth inst. until the close OF
business on Thursday. were 1893 go
shares. and the total to date this year.
50I11.2oO shares. as compared with 50. O91. %
900 shares up to the corresponding date
last year. Bond sales this year have
totaled S3i3,6S1. 900. as compared with
1857. 600 to date last year.
The greatest increase IN the bond bust
ness. as compared with decreases I'm
stock business shows the trend OF IN
vestment buying, bonds being favored.
while the stocks were more OF less
neglected.
Investments have been more conserva-
tive this year than for many years
past. This very fact has helped the
financial interests TO maintain stock
prices. during periods when bear news
predOminated and bull news was decid-
eddy scarce. In such times, heretofore.
the public has always been a seller Of
p
all room traders who are in and out on
small margins of profit or loss.
Many of the leading stocks showed
very little change in price for the week,
coming within a range OF 1kdA point
Changes Of this character are not
given in the table OF gains and losses.
The most important advances OF the
week were in stocks that are not in the
leading group of active traders, with
the exception of New York Central, 81.
Psul, and Missouri Pacific.
Rise Is Expected
II has been easy work advancing
minor securities, because OF the fact
that there are few pressing for sale
Likewise the declines have been dis
tributed in the same manner. with the
exception Of the losses In Copper and
Smelling.
Operators generally anticipate "a bet
Ter market with the resumption Of
business on Monday morning The
whole situation rests on ample money
and low rates OF discount with the
belief that general business must i'm
prove. The Indications are excellent
FOR q good harvest, and this helps
much Operators are becoming more
favorably impressed as to the possible
outcome Of the political situation. New
York state playing an important part
in giving the atmosphere a less dense
hue.
The chief reason for the belief IN
higher prices is confidence in the abiI-
ity of the insiders to hold and advance
values Irrespective OF unfavorable news
In the matter OF railroad earnings
and Of general business at the present
tine. there Is not a whit more encour-
agement to stock owners than there
was a month ago. Railroad earnings
arc bad. Reports from the West a5d
Middle West are to the effect that there
& likely 20 he a decrease in business
in that section. Up 20 date the West
has held its own better than any other
section of the country. hut business
promises to be lighter throughout the
summer.
Could Meet Demands.
The balance of trade is greatly in
favor Of the United States. but the ifs
cal operation of the Government is
making serious inroads on the nations
surplus reserves. Any call by the
Treasury Department on Government
deposits in New York banks would not
disturb financial ease. as the banks
would just as soon pay back s25.0OO 900
as not
In commenting on the market and its
probabilities. Henry Clews has this to
say:
Within stock market circles as al
ready said. the situation shows some
Improvement. The rise which has TAX
en- place is inducing the selling of
stocks by some large and shrewd in
vestors, though this movement is not
raneral Many OF the hir nnor-a tors