The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-04-21
New York
Stock Market

II New York, April 2o,-Prices moved
listlcssly within n narrow range on
the Stock Exchange to-day. and the
volume OF bushes fell far below that
of The two preceding days During
the first hour of the session specuia
lion was broad and active, With an
inward swing following moderate de-
clines at the opening. Trading rel
of thereafter. and the market was
iifclcss. final figures OF the day show
Inc only a few changes OF Stgnihca nce.
T,he AFFAIRS of the Gould railroads con
tinued to hold the chief place OF In
terest and the confusion OF ioeas
witch existed as to Impending changes
n rho situation was the chief cause OF
TIE falling off of speculation inc
confusion was increased BY the Wtoei!
circulated report that a Hartman rep
reseutativc who also is closely aitiliated
with the Rockefeller interests would
take one of the places on the Missouri
Pacific board vacated by the resiEna-
ton OF the Kuhn Loeb representatives.
In view of the banking connections be-
tween the Kuhn Loeb interests and
the Hartman lines. Wall street was at
a loss as 10 an Interpretation OF the
situation, and traders preferred to
make no fresh speculative ventures
until the situation was Deemed more
clearly. Missouri Pacific was feverish
all day moving back and forth, within
q range of nearly two points. There
was some hullish sentiment in regard
to the stock on the theory that the
new financial back ers OF the property
would be inclined toward higher prices.
to contribute to the success of ncccs-
gary financing. The uncertainty OF the
situation however. was a drag upon
the stock, which after slump late
in the day, rallied and closed un-
changed The Hartman stocks also
were affected BY the same influences.
Union Pacific in particular was weak,
closing with loss of point
United States Steel was under pres
sure most of the day Reports of
probable price cutting OF steel and
iron products affected the shares un-
favorably, and there was considerable
short selling. Orders of the United
states Steel Corporation for the pres
emit month are estimated at $4,000 to
$4,000 tons day. as compared with
$4,000 tons In the preceding month.
Some very fair contracts for struc-
tural steel and rails were reported to-
day.
Even the Increased activity OF Con
Eress and the administrative authori-
ties at Washington in connection with
the Mexican difficulty, failed to bring
forward that question as a disturb
Ing factor in the financial world The
only effect of the situation has been
to Increase the present predis position |
toward conservatism in stock market
operations until this and other un-
certainties shall have been disposed OF. !
There was noted to-day a lessening
OF the demand for stocks to cover,
short contracts, and 1t was assumed
no CT ~.
creased materially. The hnal hour To- /
day the bears made vigorous drive !
at the market This attack was par
ticulariy successful in the fertilizer ,
stocks, American Cotton Oil losing iva
points. and Virginia Car DINA chem /
icnl lesser amount. Erie and Ches-
apeake and Ohio sold off point in |
the movement
\ An advance in the proportion Of the
Fank of England reserves 10 its liza
o'hties from 1913 per cent. to 47.5l
per cent was shown IN to-day's week : |
y sta temcnt. The hgure, despite this
Substantial recover" OF the nas, weeE I
Is ee!o"' that o. the correspondin
"eek Of las, Year The Bank 81
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