The Washington herald., 1910-03-25
WALL STREET NEWS
Market Experiences Dullest
Day in More Than Year.
PRICES VARY LESS THAN POINT
Due Chiefly tn the Fact that There
VIII Be a General Suspension OF
Business on All World Commodity
Exchanges Friday and Saturday
on Account of Lenten Holidays.

New York. March 24-The most fire.
Quent comment heard to-day regarding
the stock market was that so FAR as
practical results were concerned the stock
exchange might just as we'll have been
closed to-day as well as on the two last
days OF the week. Dealings In stocks
were in fact the smallest on any full
business day since March II last
year. Transactions were largely con-
fined to two or three active issues and in
these stocks the fluctuations in prices
barely more than covered an extreme
range in each instance of a full point.
Changes in closing quotations were ut
terly inconsequentiaL
OF course eli this dullness and apathy
was due almost entirely to the circum-
stances that not only will there be no
further dealings IN securities in this
market until next Monday, but that dur
ing the interim and in some cases for a
longer period, all the foreign markets will
be closed. There win be virtual sus-
pension Of business, too. on all the worlds
commodity exchanges.
II there was any trend at all to the
market to-day & was that caused by a
slight disposition on the part OF specu-
lators TO even up their commitments
pending the long holiday which led In the
main 10 q frmer undertOne IN the promi-
nent stocks on the other hand financial
sentiment was, broadly speaking. de-
pressed by further evidences OF weakness
In not few specific quarters. A few
days ago a very large break occurred in
the inactive Federal Mining and Smelt-
ing shares.
Yesterday and to-day a great decline
took place in CRANKY mining stock. which
is dealt in In this market as well as in
Boston; and to-day comparatively vio-
lent decline took place IN the Allis-Chal-
mers common and preferred stocks. What
these events disclosed was apparently
that there is present what Is known in
Wall street as a thin market for
good many stocks The CRANKY company
is a concern having a large property in
British Columbia, and is said 10 own the
largest plant of the kind IN Canada. The
ore bodies Of the company are low grade.
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Of great extent.
Declines Not Explained.
No reasonable explanation has yet been
Offered for the decline in the company
stock. The preferred shares OF the AIlis-
Chalmers Company have never paid any
dividends, and as the preferred shares
are cumulative. a large amount OF unpaid
dividends are recorded against them. It
was to-day denied that the company was
in any way financially embarrassed.
Substantially the only development OF
interest to-day. aside from the declines
in the stocks mentioned, was that con-
tanned in the Bank OF England's weekly
statement of condition, which made an
unfavorable showing. The banks pro-
portion Of reserve 10 liabilities fell to
4745 per cent. from 1882 per cent last
week. and now stands at a lower figure
at this date than at any time. with one
exception, IN the last seven years. Lit
lie WAS heard to-day regarding the pros
poets for the weeks bank statement. and
It was expected that the return would
show no material changes.