The Washington herald., 1910-04-03

New York, April 2-To-day's fine
weather contributed to make the security
market a more apathetic affair even than
| it otherwise would have been, although
the same influences that were operative
! to bring yesterdays market to the verge
OF absolute inaction were again to-day
| in evidence.
| Attendance on the floor of the stock
| exchange was less than at any previous
day this year, and interest on the part
of a large number of people was plainly
diverted to golf and various pleasures
excursions. The market was in no way
worthy of more than passing comment.
| Changes in prices save Ia one or two
stocks were only nominal
For some unknown reason, but possibly
because of the recent notable weak
ness in the copper market in Boston,
where the American Telephone and Tefe-
graph shares are largely held. there was
an outbreak of pressure to sell Ameri-
can Telephone and Telegraph stock
which resulted In an extreme decline in
the stock of 2 81 points, only portion
of which was recovered; but neither this
fact nor a particularly sharp advance in
Hooking Valley preferred stock seemed TO
affect the general market in any degree
whatsoever.
Prices Tend Upward.
What small prevailing tendency In
prices as was noticeable was upward.
Spectators for the decline seemed in
clined particularly 10 retire their con-
tracts of this nature in the Amalgamated
Copper shares and the Union Pacific.
Southern Pacific. Northern Pacific. Great
Northern, and other well-known railroad
stocks closed at advances.
A declaration OF a dividend upon the
Western Maryland preferred shares
passed unnoticed, and the event appeared
to be one that had been entirely ex-
pected and discounted. Undoubtedly the
most important event OF the day was a
further decline in the wheat and cotton
markets, owing &C. a renewed rainfall in
the West and Southwest. The weekly
bank statement was only remarkable in
that it in no way corresponded with pre-
liminaTy forecasts as 10 fits character.
In the average statement an increase OF
$4,000 IN the loans was shown. which.
along with a decrease Of 81. 79S. 600 in cash.
resulted IN a decrease in the surplus re-
serve Of S593.000, In the actual state
ment decrease in loans OF $4,S53. GOO was
Offset by a decrease Of over 100000 IN
cash. which. along with a decrease OF
aISl40o0 in deposits. caused a decrease,
in surplus OF S5,si5,000
Due to April Disbursements.
The contrarieties and discrepancies thus
shown were presumably connected with
financial operations incident TO the large
April l disbursements and TO many cur
rent transactions relating to the fota-
ton OF bond issues.
Putting the best possible construction
upon the matter. what could only be de-
scribed as conflicting tendencies made
their appearance in the stock market
last week and resulted in a greatly d.
minished volume Of business. taking the
week as a whole, and a rather lower
range of prices.
At the end OF the week spectators
were inclined to make much out Of the
fact that inasmuch as the justices of the
Supreme Court decided not TO attend the
funeral Of Justice Brewer in Kansas, the
inference was that they were staying in
Washington for business reasons of 2
very important nature. and that 1t was
likely, therefore, that a decision in the
American Tobacco case might be handed
down in the court on Monday. But rea-
soning OF this sort was not altogether
to more thoughtful people.