The Washington herald., 1909-05-01
ALL MAKE net GAINS
Uniform Strength Shown in
Active Stocks.
INTEREST IN BRITISH BUDGET
Great Weight Of New Taxation I'm
posed, and Measure Ii ROundly
Den0uneed-MarL,et Not Greatly Az
Eected and Soon Recovers-StOrm In
West Strengthens Wheat Prices.

New York. April So-AlthoUgh the stock
market very plainly reflected today the
lack OF participation OF the larger fnan-
cial interests, and the market was so dull
that transactions IN It were much less
than on any day previously during the
week, Yet uniform strength was shown,
with the net result OF an advance in prices
considerably greater than yesterdays de-
cine. Indeed. there was hardly one OF
the prominent and active stocks to-day
that did not make q net gain. while yes
ter1ay gains and losses were commingled-
The budget proposals in the English
Parliament. concerning which certain
amount OF anxiety was expressed yesteF-
day. were found. when they were fully
made public IL the morning paper4 10
be much less important n their relation
10 the stock market than It was sup
posed they might be
New Tax Is Imposed.
A great weight OF new taxation IS I'm
posed upon the English people, but no
additional issue Of consOls is provided for
and the reduction OF purchases OF conso!s
for the English sinking fund IS not nearly
50 great as had been looked for. There
fore to-day, although the new financial
programme was r0undly denounced 81
England as being OF "socialstlc
I character and was n receipt otherwise
OF much opprObTiun. Yet 10 reason was
discovered in IL for selling investment Sc
.Nscurities. and the English markets mani
tested q recovering tendency, which gave
advances n the prices OF the leading
American stocks before the opening OF
business on our own stock eXch2nse-
Another feature ot business here to-day
was the dlsDatches received from so
many. sections Of the West telling OF the
fury OF Yesterdays storm, and this, taken
in connection with the reports Of con-
tirued freezing weather II tie North
west and in Manitoba. again strengthened
TIE Grain markets, in which q large short
interest has recently been created
wheat Options Decline.
When this short interest was covered.
however. the prices OF the speculative
wheat options declined and closed prac-
ticaIIy unchanged from yesterdays fig
,.res. The only effect of the matter on
the stock exchange was the additional
impetus Il gave through the interruption
OF telegraphic communication with the
West 10 the days normal tendency to
ward a curtailment Of business
Il IS realized fuu well n the grain trade
that this Is the time OF the year when
such unpleasant weather conditions as
have recently been experienced are 10 be
expected, but that all these do little in
jury 20 winter wheat and that the only
impairment suffered by the agricultural
situation thereby IS ia moderate delay
Of seeding and planting operations.
Particular strength was shown in the
stock market to-day n the specially"
issues. and advances in such stocks as
tie Colorado and Southern common and
first and second preferred Western Union
telegraph. the local traction issues, St
Louis and san Francisco. St. Louis and
Southwestern. and the Southern Railway
Shares are notable