The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-04-24
WALL STREET NEWS
Recovering Tendencies Con,
tinUe in Stock Prices.
TRANSACTIONS ARE LIMITED
Grain Market Is Dull and the Bank
Statement Was Notable, as IL Often
Is, for the Contrariety shown Be-
tween the Average and Actual
Figures of the Return.

New York. April 23.--To-day in the stock
market yesterdays recovering tendency
in prices continued, although in a more
or less restrained way during the first
hour Of business. Then the market came
practically to a halt until the last five
minutes Of the session. when prices again
receded somewhat. leaving final quota
tons substantially unchanged from those
OF yesterday.
The volume of transactions was small
either relatively OF absolutely considered,
and it may be truthfully said that there
was substantially no market at all during
the day. Neither was there any particu-
lar feature to the trading.
Central Leather stock, in which dealings
have been. comparatively speaking. larger
than those in many other industrial
shares, was again fairly active, and dur
ing the greater part OF the day rather
especial strength was perhaps shown by
United States steel. Brooklyn Rapid Tran
sit, and few other stocks. The wheat
market was dull. but steady, and was
kept firm, seemingly by talk OF the same
kind as was heard yesterday Of the de
velopment Of harmful insect life in the
Western grain fields
Grain Market Is Dull.
But it Is obvious that there is no par
, ticular enthusiasm just now upon the
buying side Of grain speculation The
provision markets were on the other
hand. to-day, distinctly easy. Sterling ex-
change rates remained the same. The
bank statement was notable, as II often
is for the contrariety shown between the
average and actual figures Of the return
In the average statement a decrease Of
S9,163,OO0 in loans and an increase Of over
s.. 600 in cash resulted in an increase
y in the bank surplus Of A.O35000. The
actual figures reported a decrease in loans
Of N.167.0O0. which. with an increase in
cash Of but S737,OOO left decrease in the
surplus reserve of S2,5S1,O00 The one
phase Of the current money situation that
is Of more interest than any other, and
which is unquestionably more illustrative
OF the true facts Of the underlying situa-
ton, is the high rates prevailing for New
York exchange IN the interior cities
which attests conclusively that the spring
call Of the West for funds is ended. and
that the general movement OF funds. IN
stead Of being against this center, is
toward H.
Money Situation Easier.
Matters Of news affecting stock market
prices this week comprised such varied
occurrences as an easier working Of the
money situation, renewal OF sold ex-
ports on large scale. improved weather
for the crops. and a general fall in com
modify values; the swinging over Of an
other large Republican Congressional
constituency TO the Democratic side in
by-election. further decided progress
made in the passage Of the railway rate
bill in Congress. more evidences Of weak
ness in the pig iron market and Of ir-
regularity in the iron and steel trade as a
whole, and whole host Of developments
bearing upon the cotton speculative situa-
ton.
Another factor Of great influence in
the stock market. and perhaps one that
was more weghty than any other. was
the imminence Of the time when the
directors Of the United States Steel Cor
roration viii fix the rate Of dividend dis
tribution upon the corporations common
shares for the first quarter Of the year
Just ended.