Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-04-20
STOCK MARKET DULL
Transactions Are on a Mod
crate Scale.
MANY DECLINES NOTED
Democratic Victory in Rochester
Reason for Selling.
VIOLENT BREAK IN WHEAT
Railroad Prospects Continue Bright.
Baltimore and Ohio Shows
Gain in Earnings.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, April 2O.-The stock mar
ket exhibited considerable heaviness dur
ing the greater part of the morning.
Transactions were on rather moderate
scale. Declines of over point were
forced in most of the active issues. such
as United States Steel, Union Pacific,
Southern Pacific and New York Central.
Amalgamated Copper was very weak and
sold off more than points during the
early trading. In the general view the
sagging tendency did not indicate any
basic weakness in stock market condi-
TONS Small professional operations on
the short side looked more probable in
the majority OF cases than did any de-
cision to depress the market on the part
of important interests. After selling of
stocks rallied with some buoyancy in
certain quarters.
The bearishly inclined had a great deal
to say on the political situation. The
democratic victory in Rochester was
given as a valid reason for selling stocks,
as the change to q democratic majority
was according to these observers. only
another Indication of q forthcoming gen.
eral upheaval in politics.
Decline In Wheat Prices.
Another violent break in wheat was
contemporary with an even more vto-
lent decline In Liverpool prices for the
cereal. Other commodity prices were
without especial stock market interest.
corn and oats being lower at one time,
but later recovering well, while cotton
was stagnant.
Railroad prospects continued bright.
The Baltimore and Ohio statement showed
gains in March over last year OF 81. 600, 81
in gross, and $762,O31 In net earnings.
The increase In gross was about as ex-
pected, but the large increase In net was
unlocked for, and oecasioned favorable
comment Other systems exhibited good
gains In earnings for the second week of
the month. among them being Louisville
and Nashville. Chesapeake and Ohio and
Missouri Pacific.
As a token of the intrinsically sound
condition of agricultural conditions the
announcement OF an increase OF more
than $6OOO,OOO in net profits earned by the
International Harvester corporation dur
ing the year 1909 was impressive.
Foreign Exchange Firmer.
Cali money ruled at "a to "a per
cent, while time money was practically
unchanged Foreign exchange was
firmer. Demand sterling was quoted at
4s7.7o bid. 4.s7.sO asked. This is an
advance of 5 points over last nights
close.
The fact of the further engagement
of 81 900 900 gold for export. in addi-
tion to $250.0O0 already announced, was
made public by the Bank OF New York.
The National Bank of Commerce salso
announced an additional 100000.
Up to the opening Of business today
the banks had gained $l.S7O,O00 from the
subtreasury since Friday. This move
ment Of money into the banks was sup
plemented by renewed gains from the in
terror, and these two sources Of supply
seem for the present sufficient to offset
the gold expectations to Great Britain
and South America, keeping loaning rates
steady.