Evening star., 1909-04-26
DR|FTEO A|MLESSLY
No Special Incentives in To-
DAYS Transactions.
UNCERTAIN TENDENCIES
Price Changes Comparatively Small
and Irregular.
q. S. STEEL DECIDEDLY FIRM
Industrials and Miscellaneous Stocks
Showed Better Degree of Strength
Than Railways.
q. S. STEEL DECIDEDLY FIRM
Special Dispatch TO The Star.

Special Dispatch to The Star.
NEW YORK, April 26-Comparatively
small and irregular price changes resulted
from the transactions in today's stock
market and the dealings were also upon
a reduced scale of activity. In the early
part of the business session there was
the customary rather violent speculation
i'm Reading common, and, as usual the
view appeared to obtain that the decision
Of the Supreme Court at Washington
would be adverse to the anthracite coal
owning railroads. At all events. Reading
fell nearly s. share but upon the an
nouncement shortly after midday that no
decision had been rendered in the case
the stock recovered with almost equal
rapidity.
1t will be well for the stability of the
stock market at large, and particularly
for the securities most directly concerned,
IL this highly important ruling should be
rendered one way or another.
The more decisive character of the
mornings advices from Turkey failed to
play any important part in the transac-
tiorls upon the European or local stock
markets. The London market, in fact,
appeared again to be absolutely unaf-
fected by the developments in south
eastern Europe. and very little was done
here for foreign account.
Beet Sugar Decline.
After it became known that the Su-
preme Court would render no decision in
the commodities case the stock market
drifted aimessly without any special in
centives in either direction. No particu-
lar interest was expressed in a sharp
decline in American Beet Sugar. which
stock furnished one of the largest move
noted
The United States Steel shares were de-
cidedly firm and confident predictions
We're in circulation to the effect that the
quarterly statement of earnings to be
made public tomorrow afternoon would
show net returns close in the neighbor-
hood of S22,OO0.0O0.
Broadly speaking the industrial and mis-
cellaneous stocks showed better degree
of strength than did the railway shares,
even though the transactions in the first
named department showed the same un-
certain tendencies which were exhibited
elsewhere.
fractions Unusually Firm.
The local traction stocks were unusually
firm during the greater part of the day.
Except In the instance Of Reading and
the other coal stocks, it would not be
easy to assign specific explanations even
for such irregular movements in prices
as were noted.
In the railway share list Union and
Southern Pacific furnished their usual
proportion of the total transactions, but
both stocks followed the same irregular
lines traversed by the less active Sc
curities. The continued excited spec
ulation in the grain market was again
virtually ignored as a factor in the aeal-
ings in securities, and small interest .ap-
peared TO be taken in the exhibition of
further hardening tendencies in the money
market.
1t may be noted, however, that the
banks have lost in their operations with
the subtreasury since last Friday more
than $2,200.O00. and that this disadvan-
ta2e is making its appearance earlier
than is usual at this season of the year.