The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1911-04-16
WALL STREET NEWS
Stocks Fluctuate, Changing
Little in Week.
BOND DEALERS SEE SALES
Trading Devoid of Features-At-
tacks on Railroads FaiI-SteeI Cor
poration Rushed-Orders Less Than
March Demand-Missouri Pacific
President IL Wanted.

New York, April 15-Despite a good
crop report. indicating large yield OF
winter wheat, and other bullish influences,
stocks fiuctuated the past week within
narrow range of prices. and at the
close Of trading Thursday showed no
material change. Except for some sell
ing by tired holders and spasmodic fiuc-
tuations In Missouri Pacific, the trading
was without feature.
Early in the week an attempt was made
to move Great Northern and Northern
Pacific, when the United States Circuit
Court. at st. Paul. handed down a de-
cision in favor of these roads in the
rate cases and sustained the report of
the master, who placed the physical val
uation Of the Great Northern and North
ern Pacific at figure far above the mar
ket prices of their stocks The attempt
was futile. and shortly after its incep-
ton died OF its own accord. Several at
tacks were made on other parts of the
list, but the shares were steadily alb
sorbed. and the trifiing losses were made
up in the covering movement that &C.
CURED at the end OF the week.
The United States Steel Corporation an
nounced that on March 81 it had untitled
orders that were 1878 tons larger than
those of February 2S. The street had
looked for an Increase Of about 100 900
tons, and, while the report or untitled ton
mage was disappointing. 1t was not dis
couraging, because the trust had operated
its plant during the month at aNgreater
capacity than during February. Steel
men, however. admit the outlook in their
trade for April is not as good as II was
at the end of March, and their statements
are confirmed in a falling off in orders
now being received by the steel COM
panies.
Missouri Pacific Leads.
Although trading was at a minimum.
Missouri Pacific led in the small amount
of business transacted. Professional
traders played with this issue through
out the week. Wall street is becoming
disguised with the slowness with which
a president for the Missouri Pacific sys-
tenn is being selected. so that when the
committee which has this matter in
charge met during the week and an
nounced that II had made no choice the
rumor mongers took II upon themselves
to make positive announcements that
President Bush, OF the Western Mary
land. had been selected for the position
This, however was officially denied.
CclliIiB VI On fennsNlNdnla STOCK
followed the announcement by the board
Of directors that the company would issue
Sil. 1856 OF new shares. for which stock
holders OF record could subscribe to the
extent Of 10 per cent of their holdings.
An issue Of about this amount had been
expected, so that the actual announce
ment was not a surprise.
Odd-lot buying by small investors Is
beginning to play an important part in
the stock market. and is verified by the
announcement of several corporations OF
considerable increase in the number OF
shareholders on the transfer books
Dealings in the bond market continue
dull, but bankers and bond dealers say
they see signs of improvement me
only activity in securities now is in the
short-term note market. where prices the
past week touched a new high level, due
to purchases by banks. merchants, and
manufacturers, who, unable to use the
money, owing to the dullness of trade,
are forced to purchase securities.