The Washington herald., 1909-04-25

New York, April 24.-Less than half an
I hour before the opening to-day the news
Of The fail OF Constantinople" became
public in the financial districts. and TO
+ the undoubted surprise Of the rank and
/ file OF professional spectators this news
did not unfavorably affect the days Sc
curity market in any degree whatever.
The first prices made for stocks were in
nos-. all cases the lowest Of the day.
ard these were at considerable advances
from yesterdays close.
The market hesitated somewhat IN the
/ first hour OF trading. but IN the second
/ and final hour the strong underlying fen
I dency that has been so strongly mani
J tested throughout the week again sig
naIly exerted itself.
Resumption Of Buying.
/ There was a resumption Of heavy buy
+ ing in all the prominent stocks, and these
and the general market as well left
or at decided net gains. Particular at
IentiOn-Was attracted perhaps TO the
/ purchase OF United States Steel common
stock. and Of the so-caIled metal shares
generally. while IN the railroad list there
was especially a resumption Of that ac-
emulation OF Rock Island common ans
stock Of the local traction shares that
has for some time been in progress.
There was some question to-day whether
the Turkish developments were OF vera
not known IN London in time TO affect
the financial market there. but knowi-
edge thereof Was AZ least general In Eu-
rope al such a time during the day that
selling OF stocks could easily have been
made On this side OF the Atlantic for
foreign account No such selling took
place.
The truth about the matter is that the
course Of recent events in Turkey has
so far been followed with approval by
financial sentiment in ali the worlds great
capitals. since il has been universally
recognized that an end 10 the sultan's
rule there would be good for the country.
Decline in Grain Market,
At home to-day the one interesting fea-
ture OF the days news IN its financial
bearing was another violent decline IN
the grain market This, it IS useless TO
Soy "ds FSHdENfa on iEe STOCK ST-
change as A wholly favorable factor.
The weekly hank statement was only
worthy Of notice in that an increase OF
loans as estimated under the averaze
method Of computation was reduced 10 an
increase Of but S1.se0OOo in the actual fig
ures. and as a cash gain OF something
more than S3.O00 O00 vas shown IN both
statements. A decrease in the bank sur
plus Of S1.O94. go under the average was
turned in, the actual return 10 an in
crease Of S1.2s5.G00
There was no great change IN affairs re-
lsting either 70 the stock market or 20
general business this week Developments
IN both respects could be described Ike
those Of the weeks weather. as peculiar.
But both in the course OF prices and
IN the unfolding OF the country's trade
and commerce there was visible the
same slow and steady improvement that
has been so manifest for long PERIOD.
A common remark heard among the
big men was that things were getting
a little better ali the time" and there
fore as naturally might have been ex-
pected. tfS stock market while usually /
strong one day IN the week and more
or less heavy or the succeeding day, vet 1
IN the main continued TO point upward