The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-04-19
WALL STREET NEWS
Security Prices Heavy and
Weak Despite Good News.
LABOR TROUBLES ABOUT OVER
Drastic Agreement Between Bur
hngtOn and Gould Lines shows
Railway Development TO Be Maxi
ing Headway-Wheat Prices Rally
on Reports from Grain States.

New York. April ls.-Although there
was little in the news to-day that was
bad in a stock market sense. and most
Of it was in fact good, security prices
were throughout the day heavy and weak
The call money rate held below per
cent for the first time in more than a
week. and last Saturdays bank state
ment was, OF course. with It's large In
crease In surplus reserve, regarded as
highly satisfactory.
Labor troubles on the Delaware. Lack
awanna and Western Railway. which. at
the end OF last week. were of a seriously
threatening sort, and were such as 10
render danger OF a strike greater than
any that has developed in the course OF
similar controversies in the present year.
passed away over Sunday. The announce
ment that n drastic agreement had been
entered into between the Chicago. Bur-
llngton and Quincy Railroad Company
and the Denver. Rio Grande and Western
management was rightly taken as an in
dication that general railway develop
ments were still making Roadway and a
further large fan in the wheat and cot
favorable prospect for the years crops
Wheat Rallies Later.
It is true that later in the day wheat
rallied somewhat upon the publication OF
an estimate OF a well-known private crop
expert 20 the effect that the quantity Of
abandoned winter wheat acreage this year
had been larger than usual. and although
the same expert declared that improve
ment had taken place in the condition Of
the grain IN the last thirty days he fig
ured out a prospective winter wheat crop
as the result Of abandoned acreage OF but
424,oo0000 bushels as compared with a
much larger forecast given by the gov
eminent on April l. The government I'm
Its April estimate made no effort to cal
culate the acreage Of abandoned wheat
fields. leaving this work until the month
succeeding.
Some little buying OF wheat was also
provoked In the afternoon on fears OF a
cold wave following the current heavy
rain storms in the West a heavy frost
being predicted for tonight IN Kansas.
Nebraska. South Dakota, and Missouri.
Nevertheless the general belief Is that
the growing grain In all these sections is
either not yet so far advanced or IS
sufficiently protected by snow as TO
suffer no disadvantage from a brief spell
Of low temperature
Exchange Rates Steady.
Sterling exchange rates were steady.
and although S2,500,OoO was engaged for
export on Wednesday, the general i'm
preston seemed 10 be that the gold ex-
port movement was slackening. There
Is little doubt that temporarily, at any
rate. the bidding FOR American gold in
London has fallen Off. and that the gem
eral money situation in the British cap
i;al is easier. The German Bank to-day
made a strong showing In its weekly
return, exhibiting very considerable
decrease IN loans and a fair increase in
cash. d.
1t must be admitted that an occurrence
Of rather greater general interest than
that pertaining 10 the cotton trade ex-
clusively was the news that the govern
ment had begun an action looking
forward ostensibIy TO an effort 10 break
what IS commonly known as the present
pull pool in cotton.