The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-04-22
WALL STREET NEWS
Moderate Recovery After De-
cline of Wednesday.
INTEREST is AT A MINIMUM
Spectators Turn Into Cash the
Profits Accumulated at Preceding
SessiOn-TOtaI Volume of Trans
actions but 39s,3OO shares, Much
Below the Recent Average.

New York. April n.-As commOn-sense
observation OF the action of Che market
yesterday indicated was altogether like
ly. the general movement Of security
. prices to-day was toward a moderate
recovery from yesterdays fall AT the
very opening of the stock market, prices
were in a number of instances slightly
below yesterdays final prices.
But the greater number Of spectators
for the decline then promptly set out to
turn into cash the profits that had ac-
cumulated at the preceding stock ex-
change session, and the impulse Of this
buying brought about an advance Of as
much as a point IN some of the leading
stocks in the first two hours Of business.
There was also naturally more or less
tentative speculative buying for tho rise.
The advance in prices. however. al
though sufficient to give color 10 the
market as a whole, was in no way vio-
lent or even extremely pronounced. and
it was again obvious to every one that
the market, for the time being, Is strict
" in the hands Of small professional
traders and operators.
Little Interest shown.
For the rest Of the day prices moved
hardly at all. one way or the other. At
the close, they were Tor the most part
fractionaIly below the days highest level
and the entire action of the market was
such 10 indicate that both public inter
est I'm il and participation in its affairs
by people of large financial means was
once more reduced TO a minimum The
total volume Of the days transactions
was but 39S. 800 shares, or much below inc
recent daily average.
Both the wheat and cotton markets TO-
day were stronger. especially the former
The late decided tendency toward weak
ness in nearly an staple products dealt
in on the produce exchange had led &c
the creation Of a greater short Interest
In these commodities than has been seer
for many months past, and to-day's rise
In the grain options was. doubtless. due
10 the same general Influences as those
that induced the corresponding movement
On the stock exchange. Reports circu
lated. however, Of damage 10 the whea
crop in Kansas by chinch bugs and q
lower probable yield in Nebraska.
Watch Grand Jury.
In the cotton markets, the one topic o
conversation at the moment is. Of course
the grand jury investigation instituted d.
the Federal government for the purpos
seemingly Of obtaining information upo
which 20 base a criminal prosecution 70
conspiracy against the large speculator
who have for months past been engage
g. a movement for the rise IN cotto
values
Comment In the financial district IN n
main vigorously condemns the action q
the government In this matter, unless
is susceptible OF absolute proof that q
alleged a written agreement IS IN eXis
ence signed by the holders of SO lars
an amount Of cotton that IT'S purchas
OF sale would materially affect the ma
ket. pIedging the holders Of this cotto
not to sell their holdings until a date lat
I'm the present year.
Even II such an agreement was prove
80 would seem 90 amount 20 no more
substance than well-known similar agre
ments constantly reported on the part
cotton planters. farmers and various pr,
ducers OK agricultural products not
market their holdings Of these stapl,
until a certain price IS reached therefor.