Evening star., 1909-05-11
FEATURELESS MARKET
TechniaI Reasons Only Behind
Price Movements.
NO LONDON INSPIRATION
Erie Stocks Led the Active Railway
List.
LOCAL TRANSACTIONS SLOW
Industrial and Miscellaneous Shares
Furnished Best Part of the Days
Total Transactions.
LOCAL TRANSACTIONS SLOW
knpeisl DfSnateb In The Star.

Special Dispatch to The Star.
NEW YORK. May 11.-There was moth
ing more than a dull and rather feature
less market upon the stock exchange TO-
day, and price movements In general ap-
reared to be wanting in any other than
technical significance. Quotations swung
back and forth in a listlesS fashlon
and in only small number of cases
passed beyond fractional limits. The 10
cal market derived inspiration from
London. the stock market at that point
showing the same general characteristics
which characterized the local dealings.
Transactions here for foreign account
showed, however, small excess of pur-
Chases.
A further rise in the grain market was
one of the reasons advanced for the IN
ertia in the stock market, although there
was nothing of much Importance in the
advices relating to the progress of the
crops.
Stock market transactions appeared to
he of more strictly professional char-
acter than has been the case for some
time, and, in fact, there was little or
nothing in market conditions or outside
circumstances to stimulate interest In the
speculation on the part of the customers
of commission houses.
cumstances remained upon a fairly even
keel. showing nothing more than the
same general characteristics which have
been exhibited for the past ten days or
more. 1t was said however, that tenta-
tive negotiations looking to engagements
of gold for export were in progress
Erie Proposed Bond Issue.
In the railway share list the Erie stocks
were rather notably strong, and it was re-
ported that the final measures in the pro-
posed bond issue would soon be an
nounced. in view of the modification of
the terms originally proposed by the pub
lie service commission. The annual meet
ing of the shareholders of the Delaware
and Hudson Company was preceded by
quite lively advance in the stock on in
creased transactions.
Other firm features of the railway list
were Atchison, ST Paul, Rock Island and
Reading. Somewhat indefinite reports of
forthcoming developments In the affairs
of the Reading company attended the
transactions in that stock.
Union and Southern Pacific were some-
what less prominent in the days mar
ket than is usually the case. The Wabash
and its more or less affiliated securities
were rather reactionary.
Price Changes Irregular.
During the greater part OF the business
session the local traction shares were
comparatively neglected. The Industrial
and miscellaneous stocks furnished a
considerable portion Of the days total
transactions, but even in that quarter
price changes were irregular, and, for
the most part, limited.
The United States Steel stocks in par
ticular fuctuated narrowly, although fur
nishing their usual proportion of the day S
aggregate dealings.
Amalgamated Copper and the other So
called metal stocks also moved within rel
atively small limits, while some of the
less active stocks in this general group,
such as American Can and National Bis
cult, rose quite smartly.
Western Union also evinced renewal
of the strong tendencies which marked
the dealings in that stock up to few
days ago.