Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-07
Today's Trading on Smallest
Scale of the Year.
FAVORED HIGHER LEVELS
Fairly Firm Tone With Slight Price
Changes.
SOME FACTORS FOR STRENGTH
Erie Affairs a Subject for Specula-
tion-Local fractions Prominent.
- Few Railways Active.
FAVORED HIGHER LEVELS
SOME FACTORS FOR STRENGTH
Special Dispatch to The Star.

Special Dispatch to The Star.
, NEW YORK, April 7.-During the
greater part of the business session on the
stock exchange today the trading was
conducted upon what was practically the
smallest scale of the year. At the same
time the dealings exhibited a fairly firm
tone and such slight changes in prices as
were recorded were for the most part
toward higher levels.
No special reasons were advanced,
either for the extreme lethargy of the
speculation or for such fluctuations as
were recorded. In a vague and INDEFINITE
way the belief seemed to prevail that the
plans for adjusting the financial affairs
Of the Erie railroad would be carried
through successfully by the close Of bust
ness tomorrow. and this was one factor
in such strength as the market exhibited
Another was the common expectation
that the government crop report which
will be published tomorrow morning will
set forth exceptionally encouraging condi-
tons for this period of the year.
American stocks were also firm In the
London market and purchases here for
foreign account were conducted In fairly
large volume.
with the days returns of railway traffic.
were the only fresh additions to the situa-
ton at large.
Feeling Over Erie Situation.
Despite the already mentioned convic-
lions with regard to the situation Of the
Erie railroad, there was necessarily no
little lingering uneasiness as to the final
upShot of affairs and this sentiment was
probably in large measure responsible
for the virtual stagnation of the market.
Furthermore. a somewhat favorable i'm
yI-oc cd hU he rll1hl a nm
OF the list of securities which will be put
up as collateral for the new Erie notes
on the ground that the variety and guam
tity of some of the issues to be rendered
indicated that the company was, in Wall
street parlance. scraping its box.
The local traction issues were all more
conspicuous than of late in the days
transactions. and quite sharp rise took
place in Third Avenue railroad stock. Dis
Cussion attending the movement in the
last named security was chiefly taken up
with the benefits which the company will
derive from the suspension of the trans
fer service now in operation.
United States Steel Firmer.
The United States Steel issues were
f1rmer than they have been for some
days past, despite the receipt of further
pessmistic advices from Pittsburg regard
The United States Rubber and WestinR-
house Electric and Manufacturing were
notably weak features of the Industrial
and miscellaneous shares.
There were few price movements in
the railway list which transcribed frac-
tional limits.
There was again observed the same mo-
notonous conveyance of superficial inter
est upon Reading and Union Pacific that
has been the case indefinitely. chiefly for
the reason that the floor traders can find
in those stocks the largest number of
their colleagues with whom they can ex-
change contracts.
1t was perhaps one of the most signifi-
can't features Of the markets situation
at large that the announcement of reso-
luton to suspend business upon the stock
exchange Friday and Saturday Of next
week in connection with the Easter holi-
day was received with prolonged cheering.