The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-04-03

SAruRDAT, Apnl ?.

" hylng ye>teUiay = market 10 the verge
Il ahsoliiiA inac'ion were AGAIN to-day
N evidence Attendance on the noOr Of
tho Stock Excnange was less than at any
nrrv1SzIs dsv 'hs year. and interest IN
re market On the Tar' e = large ninher
- people was plainly diverted To golf
and various pleaSpr. excursions The
MARKET vas N fact m no way worthy 81
more than passing rrview NJ comment.
Changes ~ prizes ~sv" m me nr two
s,o~ks YER, onlv nominal For soma I'm
snovy ressNn. bu' p.-~ihly hssanse %
,ha p,ent nrta bio weakness IN the copper
naTkst ~ R0Ston. Nher' the American
TAlephon- and Telegraph shares are
largely h~ld ths-~ an outbreak Of
pressure ~, -" American Telephone and
Telegram stork which resulted In an eN-
trenia decline In the -io'k of p. points.
enly = portton IT ~h,.h wa- r~Cnvereh:
~, nsi,ha, this fa"' nov = particularly
shsrr advsn's m Hooking Valley pre-
f@yred sTork hss~t upon the news that
the stock was ~ - retir~d at par ard
accrued dividends. -e~med to aSeC+ the
gsnersl market m any degrss whatsoever
Nhat small prevailing tendency In prices
80 vas noticeable vac upward. Specu-
htors Ter the ie-line seemed inclined
particularly 80 retire their contracts ~
shis nature ~ the AnalxamAtsd Copper
Shar~s and the Union Pacific, southern
Pacific, Northern Pacific. Great Northern
and other we'll known railroad stocks
oiosed az advances declaration - a
dividend upon the Western Maryland pre-
.tarr~d shares passed unnoticed and thu
~vept appeared tn b~ one that had been
sn'trely expected and discounted. Tn
aoubtedly the must important event of
DE dsy vas further decline IN the wheat
end cotfon markets owing To a renewed
rainfall IN the Vest and Southwest The
weekly hank statement Was only remark
sable N that " IN M way correspondent
Nth the preliminary forecasts ~ to its
chAFer'er. In the average statement an
arresse ~ tp.7D.O0O in the loans was
Eipown, which along With decrease Of
" 80 oH0 IN cash rpsTltsd m a decrease in
ne surplus rseerve NJ tS.5SSOOO. In the
pctlial statement decrease in ioana Of
A-sSSOOO Vas offset nv decrease Of over
-,kio. OOo Ooo IN cash. which along with a
decrease 81 81 ,Sla.NOO IN deposits caused
decrease in surplus ~ sS.s4SI0O The
contrar,eties and discrepancies thus
shown were presumably connected with
financial operations incident to the large
April disbursements and In many cur
rent transactions relating TO tho fotation
Of bond issuer
Z Putting the best possible construction
Ipon the matter. what could only be
described 80 conflicting tendencies made
fheir appearance m the stock market last
week and resulted IN a greatly dimin-
t~h~d volume - business. taking the week
- a whole. aud rather lower range
cf prices Talk 81 damage "a the winter
wheat crop by lack of rain. gold exports,
the sudden death u Justice Brewer. a
not very encouraging review by James
.. Hill II the situation of affairs IN the
railway world the development 81 heavi-
ness not 90 say weakness IN Investment
ISSUES. "a violent break in the price u
various mining stocks. a disturbing con-
tlnuance Of reckless speculation in Rubber
shares IN London and additional emphasis
l~nt to-the present complications in finAn-
cal political Affairs IN Great Britain all
contributes to keep buyers away from
the SECURITY market Az the same time
all these matters we're really uncertainties
more than anything else. that IL 60 say.
they were not circumstances of direct or
positive evil and not such a. in and of
themselves might Ia supposed to nece-.
~arily lead to market liquidation. and they
~ere OFFSET in no small degree nv the ex-
ceedingly easy undertOne shown nv the
money market over the first % April.
which vent far Co dispei any apprehension
of'H perpleIinS situation in this regard
later on. Reports from business centres
Proper over the country were perhaps
more irregular than they recently have
heen. In the iron and steel trade a rsla-
i've depression an pig iron seems 10 bs
y. 4. -.
steel and . pretty fair average mainte-
nance Of prices in the latter direction TN
the other hand. the dry goods business -
showing more than at any previous time
the injury done Co !, by the short cotton
crop Of last year. Ali lines ~ industry
IN this respect sre suffering and u - said
that the amount Of cotton mill curtail-
went now being enforced throughout the
country ~ larger than ever before known
s1cept IN periods 81 general and severe
hard times Toward the end 81 the wesk
the drought IN the agricultural section.
appeared To - partly n not altogether
broken. and while tho weather latterly
has not been good for winter wheat -
has been excellent for the spring wheat
planting Bank Clearings during the
week were less than they were N the week
before. hut slightly greater than in tn.
preceding year; while anticipation re-
gardinE the character of the supreme
Court decisions N the American Tobacco
and Standard Oil cases still figured promI-
nently a. ever as a stock market and gen
srsl business factor. Al the end of the
week. spectators were inclined to make
much ont 81 the fact that inssmucn A.
the Justices ~ the Supreme Court de-
cided not To attend the funeral u Justice
Brewer in Kansas the Inference WAS that
they were staying IN Washington for
business reasons 81 a very important
nature ami that u was likely therefore
that . dccIsion IN the American Tobacco
nsse might lie handed down IN the court
90 Monday. But reasoning 81 this sort
vas not altogether convincing To NOR.
thoughtful people.
Hs~ SRI Stsch Exehsnge Sales. April =.