The sun., 1910-04-10
GOSSIP OF WALL STREry

rhe market op~nsd lower IN acoo,d,,..
With lower London prices. vas wsak N a.
first hour and then recovered los... -
scored on the average fracS touAl satp. a
the close There was little " Anv -y,o...lp
OF fresh buying power. and u Va tho %.
s~nsus among brokers comins from 90,
no0r that the covering of ~horf ,--,r....
by the more titnid operators ara a..
traders vas principally Instrumental b,
the advance AFTER most of this ro,s,t,.
had be~a complsted the nsrsst ,sc,,..
dull and prices asEEed oH from tB. h..,
In the last quarter hour sAle- ~ h,s hio...
had 60 be made a. slight conc~-sion. a..
rally seemingly having spent n. force
Greater interest than IN any other ,,,,.
vas taken In the sp.ech which Il Das sro--,
Mr. wickersham was to deliver n Ch,e,,.
Iaat night Predictions REGARDING 'hs ,..o.
of the speech varied. hut some Of the A....
In ngtOn houses prOfessed 80 have infor-,,.
ton that the speech would marx radif A
departure on the part of the Admin,.ir,.
ton. OF at least a most emphatic retlera,to,
Of the most radical views that the Ndr,int..
trasion has expressed. P~s-innisr p.,.
vaded thess housea. but the majority a,
traders seemed To bslieve that the dtr.f,d
predictions represented gue-suork ands
nos accurate Information. and u vas ID
oh.ervable that the forecasts had any par.
tlcular effect upon the market
The average hank statement showed
decrease Of % OOO. .OOO Ia surplus reserve and
the actual bank statement an inrr~ls. n
o. so 0oa. CuriOnsly the change lsft N,
aurplus a. shown by the average statement
almost Identical With that In he sctu.l
statement In both the surplus NAs absut
q. 800 0os There was. however. = sharp
-. -
the average statement showing coa.
traction Of o. O.'o. .ooo in ihe loan aCcouR q.
COMPARED With nearly sz0.sua 0Np "a M,
actual statement The last day NJ the vspt
was the day on which liquidation vas N 4
in evidence. which may arrount for tss
unusual decrease n loans shown ny n,
actual statement The loan Contra.tlcl
was regarded a. a favorable drN eiopmeai
because reserves are nov low and II ssemtN
a certainty that much gold vii he ssnt
abroad on Wednesday steamer N ea.
Ragement of =, ihrp an Tor export then "a
annoaEced yesterday
Tn the stock Hsrkct arr 'dr- remarked
a very weak outside pOsit .on " "omba'ins
against a very strons technical posli.cn
The question for the srrruisior to deci-is
Is a. TO which one Niil give Nay first
On the recuction "a vprk'ng fo-"- and
working hours nv fvn T. stern Srs'ems q
we'll known raalrosd man made the CON.
ment that znch artion = decifestly un.
aeasonAble In normal times the advent
Of spring brings an increase IN me number
of employees Work I'm nain'shAnce n
track aud roadbed cannot h. done in the
winter. and normally IN the srrinF s1di.
tional men arc put a. work 70 reprir the
damage caused ny the fro-r and freshs.s
of the u inter and eaEly spring
u - q favorii, sNplapat Of ~Niiirg
irregularities in hsstn~S- and 3" 'Ne s'ctr'-
ties market. that the cruz of ~" .ituAt =
continues to - IN" hish 80 ~ Lrirs
Higher prt,s. for ns.,sssIt,~- ant mNur =
alike have imPrl!~d r"iav'-st n'"ni NJ fuR,ls
previously p,arsd in high ,rad~ bonds.
Tho ,ame mpV"n-nI has limit 4 ne pu-
, ha~tng power ct men Who liN" On 'noOm"S
and men Engaged ~ businss~-. " m ths r'-sut'
{ hat purrha.. Tnu-t ~ utade more -partnElG
and r,tail trad" suffers. The msHarrr
Of onr o. tho hiERsst railroad -ystsua
said this eek that bs-su-p ~ tho tn'rea-cd
cot ~ ~v-rvthiag he husinsS- "i - v"un-
try wa~ gong taroyg1 r~adfust7i~nt
n htrh R~'.s.saTs mes1t sor sorur tins
unc~Tt.,1ty ana irT-guIaTWy
The weekly t-ass reviews rsr9ri~d ron
ziderabl irTsEuiafity N rsttU trade Tie
report from t1r div goods t-ade Nefs.
however. rath more gloomy than he others.
Tor the reason prime ipally that IN. l,esh co-s
Of cotton has thrown th- tSttcn goods trads
into confusion The N-.k Witn~s-s-'t fuith"t,
ur'ailment of produ, iion In "a" mli-
North and SoWth According TO n" N"@kly'
market rcpoyt nj ~n- ~ tA' Target pis ron
firms IN tho VAT. -th"r~ y considerable
a. - cuTtaiing pr~iu'tion of
piR iron. ard tais - not 10 h.' = onder-d az
when one Compar~- ~" cot ami selling
prices Of to-day vtth ~iN months agO. 1h-
fort ghtiy tat ..tic~ Of the American Raj
way Associat !or Nsr~ mor~ encouraging.
They showed AZ increa-" nf bur ~ IN the
numb-T of ~" ear. thus indi, nting that
- hill. the tendency oI g'ncrai bust tne-e
- back ward he ,rovsmrnt has h~rr gradual
ard Ia. not assumed large prot'o't ion-.