Evening star., 1909-04-23
PROFESSIONAL TRADE
Character of Today's Dealings
on Change.
SOME PROFIT REALIZING
Few of the Losses Exceeded Frac.
tional Limits.
AMERICANS FIRM IN LONDON
Reading Heavily Dealt in and Some
what Observation-Disclosures
Advances for Industrials.

Special Dispatch to The Star.
NEW YORK, April 2s.-There seemed
to be in today's dealings in the stock
market a fairly general disposition to
realize profits and to close out long COM
mitments over Sunday. but. on the other
hand. the tone of the stock market could
not be described as weak, and few of the
losses suffered exceeded fractional limits.
There was nothing of novelty in the days
general situation calculated to incite spec
ulative activity in either direction.
American shares were exceptionally firm
on the London stock market, but before
the close of business there a general re-
action occurred which was due largely to
a decline In consols and other European
government bonds. Operations here for
foreign account were. however. upan a
small scale, and showed trifling net re-
suits.
The fluctuations in the grain market
were less of a factor in the course OF
securities than for some time past, prob
ably because of the realization that from
this time forward wheat prices will rest
on their own bottom instead of being
swayed by the now apparently concluded
manipulation of the past few months.
Little Change in Money Market.
Money market and foreign exchange cir
cumstances showed little alteration. Pre-
liminary estimates of the principal move
ments in currency during the week point
ed to a fairly large gain in cash by the
banks, chiefly on account Of the gains
from the interior.
Transactions in particular securities
were wanting in the special features OF
interest exhibited earlier in the week.
Reading was very heavily dealt In and
was somewhat reactionary, probably be-
cause of the usual end of the week con-
lecture with regard to the possible action
Of the Supreme Court in the long dis
cussed commodities case.
Other comparatively active features OF
the railway list were st. Paul, Union and
Southern Pacific. the Rock Island shares,
Baltimore ana Ohio. and New York Cen
trail, but in none Of these cases did the
movements appear to be accounted for
by any other than technical trading cir
cumstances.
Some Extensive Movements.
The local traction group was relative
ly steady, but the transactions in that
department were in somewhat reduced
volume in comparison with recent aver
ages.
Some Of the days more extensive move
ments were scored In the industrial and
miscellaneous shares and, In fact, that
group showed a somewhat f1rmer tone
than was displayed by the railway list
At one time or another during the Lus1-
ness session substantial advances were
shown in American Locomotive, Ameri-
can Cotton Oil and Republic Steel and
Iron. The telephone and telegraph Is
sues continued steady, but were less
prominent than they were in the earlier
part of the week.
Broadly considered and In view of the
general drift of prices earlier in the
week, there was nothing particularly note
worthy in the days fluctuations, and on
the whole the trading was OF more
strictly professional character than has
been witnessed for a number OF days.