Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-04-27
IRREGULAR Tendencies Attended
by a Contraction.
FEELING OF UNCERTAINTY
Disagreeable Impressions by Failure
and Credit Runners.
RAILWAYS LED THE MARKET
"Pennsy," Atchison and Rock Island
the Firmest Stocks-2eading, U.
p. and st. Paul Active.
FEELING OF UNCERTAINTY
RAILWAYS LED THE MARKET


Special U1epdtcn 10 Tue ct@''
NEW YORK. April 27.-stock market
movements today were quite irresuiar'
and there was little In the news over
Sunday or in the developments with the
progress Of the business session to which
the tendencies Of the trading could be re-
ferred. The resumption of exports OF
gold did not appear to be reckoned mat
ter Of any moment. as the shipments hao
no more effect upon money market con-
ditions than was the case last week.
1t became known during the morning
that the President was about to transmit
another special message to Congress COW
ering q variety Of topics. but neither did
this intelligence appear to cut any espe-
ciAl figure in shaping sentiment.
The great success attending the fota-
ton Of the new Pennsylvania bonds. both
in this city and London. was also mat
ter Of early Information. and the relative
success Of the Interborough Rapid Transit
note issue was also regarded as matter
for congratulation.
: London Generally Heavy.
The London stock market was generally
heavy, but operations here for foreign ac-
count were upon too small a scale to
{ amount to a factor OF importance In the
local dealings
In the commodity market only limited
movements were noted in grain prices.
while cotton options broke rather badly.
The irregular tendencies Of the stock
market were attended by a contraction in
activity in comparison with last weeks
averages As has been the case ,since
Fridays announcement Of the embarrass-
sment Of a rather conspicuous stock ex-
change house. there was much calling In
Of loaned stocks, and II might be added
stEwkthe failure In question has produced
q more disagreeable impression than any
event Of corresponding character In re-
cent years. As was the case also last
/. week. rumors assailing the credit Of other
firms. suspected of bearish proclivities
were In persistent circulation and tended
to create . feeling of uncertainty and
uneaeiness. The transactions in detail
Developed few features Of particular In
The hrmest stocks in the railway list
we're poansylvania. Atchison and Rock
Island. Such active issues az Reading.
Unien Pacific and St. Paul covered wide
range Of fluctuation for no other apparent
reason than technical causes.
q. 8. Steel Somewhat Heavy.
In the Industrial and miscellaneous
group United States Steel common was
somewhat heavy. and the course Of the
stock was attributed to the common opin-
ion that the statement for the March
( quarter. which IL be published tomorrow
afternoon. will make discouraging show
ing ana will be followed up by even 4
poorer exhibit for the current quarter.
euch may indeed prove to be the case.
but nevertheless the steel industry In sew
eral ct ita hines 10 beginning to show
more dehnite evidence Of Improvement
than have been witnessed in months
Amalgamated Copper. American Smelling
and the other active industrials moved in
line with the market at large.
The local traction issues were fairly
active. but also moved irregularly. The
securities identified with the Interhor-
ough Metropolitan system were heavy.
while Brooklyn Rapid Transit was ex-
ceptionally strong on the understand
ing that the company has recently dis
posed Of e5OO0.0OO Of dts convertible 4
per cent bonds to banking house rot
heretofore In any way Identified with
the affairs OF the company.
The bond market was again firm and
fairly active. with further sharp aG-
vance in the curb market quotations
for the contracts in the new Pennsyl-
vania bonds.