The Washington herald., 1911-04-07
WALL STREET NEWS
Transactions Are Smallest
of Years Dealing.
WHEAT YIELD TO BE LARGE
Chicago Expert Makes Estimate of
Winter Wheat Yield-Market De-
Comes in-Bo9ds Increase in Mar
ket-Private Bond Trading Better.

New York, April 6.-At feast one notable
fact can be recorded of the stock market
to-day, and that is that transactions in it
were the smallest of any full business
day in the year to date, being but 132,OO0
shares, as against the previous low record
of $4,000 shares on March q. OF course,
under such circumstances fluctuations in
prices were utterly unin:portant and in
the greater number of active stocks deal
ings were limited to but few hundred
shares. The market as whole could not
be called strong or weak, inasmuch as
net changes in prices were so insignifi-
cant
SpeciaIties FIuctuate.
Buying and selling of some of the in
active shares made comparatively wide
fluctuations in some of the speciaIties of
this list Thus, United States Rubber
common declined point owing to the gen.
eral impression that the directors of the
rubber company at their annual meeting
after the close of business this afternoon
would not advance the common stock to
the dividend-paying class, although some
time since there were rumors that a COM
mon dividend would be paid. The general
impression in this regard was fulfilled
by the result of the directors meeting
Canadian Pacific stock was also at one
Iime heavy, for which no better. reas son
could be found than realizing sales after
the great advance that the stock has en-
joyed- Conversely American Can, West
ern Union, Minneapolis, St Paul, and
Saut Ste Marie, and the Interborough-
Metropolitan shares were most of the
day comparatively strong, for reasons
that appeared TO interest the majority
Of people in Wall street but little, the
majority of these having reference to old
stories that have time and again been
heard.
Wheat to be Plentiful
The most important development of the
day was the publication at Chicago of
the report of a private crop expert, who
stands in the front rank of his class.
making the statistical condition of win
ter wheat on April l as S5.4, as against
A-3 last year. These figures indicate,
If their promise is carried TO the matur-
lty OF the crop, winter wheat yield in
the coming season of 100000 bushels,
as against an actual harvest of 464 O0O 900
bushels in 1910 Almost invariably OF
course. the crop suffers some deteriora-
ton from this time of the year until
harvest
1t is clear that the promise of the
moment is unusually good, and the wheat
market declined sharply to-day, follow
ing the publication of the figures Next
TO this incident as matter of financial
interest was the pouring in of money
to the banks on private shipments from
the interior, which had the effect of
making ii difficult for any bank to get
more than S24 per cent interest for
loan on approved collateral over the end
of the year.
This increasing plethora OF money has
also been a seeming cause throughout
the present week of increased strength
III the general bond market Yesterday
and to-day, for the first time in long
period sales of bonds on the stock ex-
change were considerably in excess of
those of the same day year ago. and
this was accompanied by an increase in
the variety of the issues dealt in. Pri-
vate bond houses also report their busi-
ness as better.