Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-04-29
Prices Make Partial Recovery
in Uncertain Market.
BEARS SEEM TO BE TlMID
Show Little Disposition to Follow
Up Their Advantage.
INVESTMENT BUYERS ACTIVE
Purchase of Stocks for Strong Boxes
Helps Sustain the Price
Level.
special Dispatch to The Star.

special Dispatch TO The Star.
NEW YORK, April 29--Although some
forebodings of a bear raid of considerable
proportions seemed to be I'm the air to-
day, the level Of the stock values ceased
its downward flight. But the volume OF
trading on the recovery was not especial
ly large, falling far below yesterdays
total. The tone was rather uncertain.
The loaning rate stood at per cent on
the speculative stocks, seeming to indi-
cate the Importance of real liquidation
ON recent days. and at the same time to
ore- bear operators an opportunity. which
they. however, seemed slow in taking
ADVANTAGE of.
The list opened fractionally higher here
and in the first hour good gains were
made. Buying OF an investment charac-
ter was noted Banks seemed to be alb
sorbing certain lines in some quantity.
The railroads seemed to do slightly bet
ter than the :ndustrials. Baltimore and
Ohio. Pennsylvania, Denver and Rlo
Grande, Southern and Union Pacific
opened well. Norfolk and Western lag
ged United States Steel preferred, which
had such marked decline yesterday,
opened point higher today, much to the
surprise of traders in general, who had
expected to see further depreciation in
the issue.
Demonstration by Bears.
The bears made some demonstrations
in the second hour. and managed to
lower a few issues to a shade under
the previous close. But offerings were
fairly we'll taken. and by noon the list
was back to the opening, and about
midday between the highest and lowest.
The mornings range had been rather
narrow. In the early afternoon steadi-
ness seemed to rule. but ct the expense
of activity. American Smelters, which
sold exdiv dend. seemed heavy. also
General Electric and Ice. Canadian
Pacific and Car and Foundry were
strong. Steel common was doing better
than the general list. Fairly good sup
port was being given to Anaconda, b.
and O., Central Leather. C. and u, Con,
solidated Gas and Brooklyn Rapid
Transit
TIE money situation showed factors
of favorable and of unfavorable bearing.
Although call money was not quite as
high as yesterdays highest it seemed
rather susceptible to demands. During
the morning demand loans went from
6ls to 62 per cent and then back TO
per cent. Foreign exchange weakened
10 points during the course of the
morning to 4.s1 GOA. 1876, seemingly
Influenced by the call money rate and
by the prospect OF part OF the enor-
NOUS amount of cotton rendered on
May contracts being exported to the
other side.
Big Deals in Cotton.
Thirteen to fifteen million dollars worth
cf cotton changed hands this morning
and will be, II is expected, rapidly sod
o consumers by the new owners. The
subtreasury gained $4,000 from the
oanks. making the net gain since Friday
215S 600 Interior banks Of the west
.eem to have their money tied up in land
speculation to as large an extent as ever.
Commodities were slightly h.gher today.
At London the further progress of the
finance bill had depressing influence. A
big Mssiss ppi cotton firms difficulties
helped concentrate a good deal of atten-
ton on the unhappy state OF the trade IN
the staple and its products.
Increases in gross earnings for March
were reported by the Canadian Pacific,
the New York New Haven and artford
and the Iackawanna. The Canadian Pa
cifc's prosperity can be attributed to the
enormous increase in the foreign trade of
Canada, which is still under way