The Washington herald., 1911-04-08
WALL STREET NEWS
New Low Record for Year i'm
Transactions. a
QUOTATION CHANGES TRIFLING
Prices Hold Up Surprisingly Well in
View of Complete Inertia that
Prevails - Current Business De-
NelOPments Are Not Regarded rs
Particularly Encouraging.

New York. April I'm the first hour of
stock exchange business to-day. usually
the most active hour OF the session, only
G,C0o Shares of stock were bought and
Soli, the smallest amount that has been
. turned over at corresponding time ior
several years, and a tigure which suS-
gested very viYidly the character OF tre
dealings on the famous low day in March,
1904. when tie total volume of trading as-
srcgatcd but .4000 shares.
After period Of absolute torpidity
during the day the market was. now
ever, in the final hour of business con-
siderabIy more active, but with a net
result nevertheless, of making a new
low record as regards quantity OF trans
actions since January l. Tine most tha-
could be said of the days market. and
also the best was that in view of the
complete inertia that prevailed and the
decidedly discouraged feeling that has
come over speculative Wall street. it Mas
surprising that prices he'd up as well as
they did. Changes N quotations We're
t-nlinG, although the ma Jcrity OF stocks
declined and = Question that is beins
aSiia led more or less - as to the degree
Cj stability that the market would p-ch-
'ADiH StlOh III Inc event Cl lile UutDEt
ii unexpected bad news
Optimistic on Trust DECISIONS
The practical consensus is that the do
cisions in the antitrust cases will be
technically adverse, but there is a pre-
vailnG hope that this pronouncement
will be qualified ny j construction of the
Sherman law that will still point a
way for general business to be carried
on. That is to say. the idea is that
while the Standard Oil and American
Tobacco companies may bc forced to dis
solve or change their form OF OrganiZa-
uon. yet that the antitrust law will he
so constructed as to allow other cor
poratOns to continue their operations
undisturbcd. Therefore, Tor the moment
although discussion of this matte has
substantially stopped Wall street on ac-
count OF the pure wcariness OF people
there Is som" rather nervous intensity
as to what might be the course of the
market if more drastic Interpretation
OF the antitrust liw should he handed !
down than is NOR" or less commonly
anticipated. For the present. The stock |
market IS displaying. 50 far a. il is |
displaying anything. a slightly sa-gins !
tendency. due to disSUsted selling of |
stocks by Spectators for he rise, whom !
TIC long continued Stagnant condition Of |
the market has tired out
Developments Not Encouraging.
1t must he said that current business !
developments ar" not OvcroncOura-inC
Favorable reports are sruI heard from
the crop section and tn. money plcth-
ora Is increasing. but it is evident that
IN the last fortnight business has mate
rally slowed down. I;a.ilrcad earnings |
arc exhibiting larger decreases in busi- |
n"SS. gross and net. .rd tho current
I''0r" Of mcrrhantil" tlIUrcs show. tina;
business uTu.daJOn and rcad. .5u~;mrnt j.
proc" ding At "a ruth arti-.r ate. The
Weakness Of ih'. stock -.ark"- tn;= Aft
''n"un seemed Io br as ,-iaf,d with Il
pa~tic'l"r decline i'm Missouri Pacific
stock. Tbs Wa :rarcauIc - no un'av-
urahlc meas announcements ana MY
very well Eav" h"'n I've t. the s.Ilin;
out Of u Sp"CuIAliv, ar.oUnt for tie rise
for mcr" ordinary rc~H"!. . The. bond
market Was relatively much more active
than the stock ma"k't The rnIar-crr,nt
"f dealings was due in great Iu"aSurc -
in reaSc.l tradir- IN tno Virginia ,i,.-
I rTcd debt o' ~ri1i"dt"S and IN" S"ah0aru
Air Line ad".Stm'nt -. NcvrrthrlcsS.
transactions IN tn" bond market as \
what" were in proportion large and well !
diversified: tn" movement hcrc following I
the precedent that was SGT earlier in th,.
present week.