The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-04-24

before the opening yesterday spectators
watched the course Of the LondOn market
with particular interest hpcanss on the pre-
vloua day the selling which started the
decline and was lar9sly responsible for
h came from LOndon. The large number
of reports % losaes By English houses In
the knight ianCsy Company failure
aroused the apprehension that English
selling would be continued and would again
be influential On tho stock prices In this
market But when u wns seen that the
London market wRs steady and that the
liquidation of .Am@rtean stocks there Vas
over for the time being the majority Of
speculatOrs we're Inclined TO the bull side
and the early rradinG sAowsa also con-
siderable COVERING -Of shoF' oOa'Tan's
Tho effect OG tho alasRsa apurious oills
% ladinE issued by KnisAs. Tancsy a Com
pany uDon the poNlaiwm9 az eho opposing
forces In Gotten was alBearPed with q great
deal Of interest 10 appeared from the
reports from LiverpOol. Alabama and the
cotton trade In this city that EnGlIsA houses
we're the heaviest Iosers by the failure.
those hounes havinR accepted many bills
on which cotton had NOT been shipped
These losses might have . harmful effect
on the bull position, q was argued. because
they curtatled the purchasing power Of
Liverpool honaes and made them dintFuatfnl
Of cotton hills from thln side On the other
hand EnGiish spinnsTs must Of course have
cotton. AID Il was sgOed thAs they must
enter this market and mako purchases
to supply the cotton bought bue not deliv-
cred by KNIGHT. iAncey a Company. II
was also eontsnded By the balls that the
failure % the arm 20 snip In accordance
With It's hills % iading showed that much
ess cottOu n on Zee way to this city than
Rad been estimated.
The lndbcaiiSas Os the trend Of business
a. supplied by the tables Of hank clsarinss
were not at all eonvtRctng. C,earinEs for
the week totalsed ts.iTs. ooo. 90. ~ COM
pared With o. ne. 00o. o0o tho previous week
and e1.iso. 600 ,0aO for the corresponding
week Last year The weeks nxurcs thus
showed Q Ioss from the previous week. but
q gain over the corresponding week last
year. The heaviest increases were In Balti-
more. "a. Louis and Chicago. Will. New
York and Boston reported substantial
decreases. According 90 the figures bust
ness seemed TO be better In the west than
In New York and Nee England. Some
Of the retail trade reports we're to the same
DurpOrt.
On the other hand the fortnishtly sta
tistica Of sdle carr complied by the American
Railway Association Indicated that buai-
ness has fallen al more rapidly In thu middle
West and the Northwest than In the East
The report showed the greatest Increase
in idle cars In this country and Canada
that has be~n accumulated In any fort
night for q year. The total increase for
the two weeks was 81 .OoO bringing the sur
plus Of cars up to n 600. which 10 the high
ngurc Of the year. Idle coal cars sup.
piled to.coo Of the increase. There was no
particular change in car movements In
New England and the Middle States. but
In the middle west the number Of IDLE cars
increased by :0.Oo0 and IN the Northwest
by 1900
After the squirt In the early trading.
In which the hest prices Of the day were
made. the market became very dull Trans
actions during the remainder Of the scasion
were made infrequently. In comparattvely
small aIn0u@ts and almost entirely for the
purpose Of evening up accounts At the week
end Prices we're Arm until just before
the close. when realizing sales wiped on
most Of the early gains.
Spectators seemed to see little chance
for proht on either side % the market
One OF thSm said he was deferred from
buying for fear % unpleasant devel-
opments a. q result of heavy commit
ments In cotton. Another laid stress on
the uncertainty over the business outlook.
Anoth her dtsliked the prospects Of an early
revision Of the tariff and such political
Developments a. announcements Of che
forthcominR Tetircmen, Of senators Aldrtch
and Hale Against these unfAvorable ten
dencies were placed A. balancing factors
the ease In money. assuring no forced liduI-
daiion and inviting speculative purchases.
and the Liquidation In the commodity
markets. which indicates q decreaae in the
cost Of living in the near future None Of
the arguments for or against the market
vas new. and the street "a whole was
waiting for new Developments before specu-