Daily press. [volume] (Newport News, Va.) 1896-current, 1910-04-20
Lack Of Decisive Tone Shown
In Speculation.
INACTIVE SPIRIT MANIFEST
Marked importance Is Attached to
Some Very Large Individual Stock
Misunderstanding of United
States Steel Gives Rise to Common,
nv Associated Press.l

NEW iORh, ApiH 49, AH~'N
vas a lack OF decisive tone in the
stock market today which reflected a
good zeal OF uncertainty in the specu
lation. The market was not active,
out importance was attached To somt
very large individual transactions.
especially in United States Steel.
rhe selling of this stock by the
.tock exchange firm which was re
yealed as the largest owner on re
,orG I; the company's shares OF any
OF it, class by the statement given
cut icy the corporation Itself yester'
day, gave rise TO much comment.
The influence of This selling Oh
sentiment was due to the widespread
henef that the firms holdings repre-
sent the interest OF some of the so
called insiders in the corporation.
The conclusion was suggested that
.ns,oc selling was going ON. As the
amount of the sales by this firm re
presented a considerable proportion
of rs tofal holdings. the action con
atitu cd 4 weight on the whole mar
ket. The fact that the same firm l.
lesCirs factor in the cotton marke,
suggested the inference that cotton
81. uiators were lIquidating stocks
To protect their position in cotton.
The nervousness OF the cotton mar
ket, which has followed the action OF
The government against the market
position in that commodity. makes
the necessity for protective measures
for the price of cotton. Ii was re-
ported today that there was buying
of cotton for the purpose OF SIP
porting the price. The source of the
selling of United States Steel was
regarded none the less ominous. The
effect was TO give rise to doubts OF
the accuracy of previous predictions
Of coming increased dividend. Rumor
vas given currency also that the
quarterly statement of earnings to
be published next Tuesday would
prove disappointing. The heaviness
OF United States Steel was supple
mented as an influence by the de
preston in the coppers. IL was re-
ported that the publication of month
~ statistics of copper production.
deliveries and stocks would be aban
doned and the Copper Producers As
soeiation dissolved. A denial of the
report rallied the coppers.
The volume OF the gold engage
ments for export proved somewhat
disconserting. the total rising 10 near
the $4,000. 900 mark
The prosecution of the cotton mar
ket pool would have several phases
in the Wall street view. A break
ing up of the artificial conditions sur
rounding cotton and price adjust
ment which would revive the foreign
demand, would be welcomed by the
financial community. On the other
hand. legal procedure against the
market operators in another commod-
ity suggest a analogies for the stock
operators that are not natural.
The unstable weak condition in the
west made an unsettling influence
None of the days factors was con-
stant in its operations and prices
ended the day little changed. Bonds
were easy. Total sales, par value,
81. 49,. 200. United States bonds were
unchanged on call
Total sales today were SIS. 100
shares, including: Amalgamated
Copper, 29.s00: Sugar. LOCO; Tobacco.
800: A c. J.. 200; c. < O.. $500; l..
a ". zoo; n. & W. 2.5OG; Reading.
eS.s00; Sloss Sheffield. 200: Southern
Railway. 500; pfd. 100; Union Pacific.
LOO; u. 5. Steel. Sl.i00; Tennes-
see Copper. 200; \. C. G., 2.3Oo.