New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-04-12
RANK STOCKS ON STOCK EXCHANGE
FINANCIAL MARKET
Stocks Dull and LoWer-Oo'
nestle Exports in March.

The stock market showed its accus-
toned dulness yesterday. the total trans
actions being only slightly in excess oi
MONDAYS figures. and at the close most
of the issues were fractionaty lower than
or the preceding day. with conslderapie
declines in some Of the specialties. Inc
virtual certainty of the granting 81
holiday from tomorrow night until next
Monday operated to restrict the trading
and probably also accounted for part 81
the selling There were some evidences
Of liuuidstion Of long stock by holders
who had become tired Of the protracteu
inactivity of the market. but by far the
greater part Of the selling represented
OPERATIONS for the decline. Missouri IA
cific. which. with Union Pacific. steel
common and Reading. supplied the chief
mart of the total dealings. declined in the
carly trading but became strong toward
the close ending the day with a net
gain OF nearly point. in contrast TO the
fractional losses sustained by the otner
issues named. American Cotton OIL was
no1iceablv weak, falling more than two
points. on selling accompanied by re-
rorts of a decrease in the dividend ana
# price cutting in the products OF the
,oupanv. and the Virginia Carolina
chemical issues shared in its weakness
although all three stocks closed above
their low of the day. rally occurring
in the last hour. which was aided by
good deal OF covering OF shorts, and
which opcrated to the advantage OF
prices throughout the list.
Exports of domestic products in March
as reported yesterday by the Depart
ment of Commerce and Labor, amounted
in value 10 SG2.571.1S1 compared win
SjgO47 .936 in the same month last year
and S6l.O13.o1O in 1909. There was a
Gain in the outward movement OF all
products. with the exception OF COTTON
the decline in exports of THIS staple
erely representing a natural reaction
from the tremendous shipments of pre-
ceding months. From July ], 1910. eX-
rorts of cotton show ali increase in value
10 the amount of S149 136.l1O. while in
the same time there has been a falling
off in the shipments of breadstuffs TO
the value of S15,35O,511. 1t should be
noted. however. that the outflow Of
wheat and corn is now running well in
excess Of this period in 1910 and 1909.
the increase in value in March Of 81
.,ns oe,@ocioI1,r nntaU.nrihN
current prices for both wheat and corn
a,c now far under the quotations re-
ported a year ago. The May option for
wheat at this time in 1910 was in the
neighborhood of 100. compared with a
figure n little under % at present while
thu current price Of May corn shows
decline of about Is cents from that re-
ported at this period last year.
our export trade is showing progress
sive Improvement. and IL is quite nheiy
tia, tho complcte statement of the coun-
trv's foreign commerce, which VIII DE
iesued in a few days, will show sub
etantia, excess OF March exports OF mer-
chardiee over imports. compared Win an
excess 81 lluD'i % III
more than S10OOo.O00. II is estimated
that this country needs trade balance OIL
between SJO0,OO0SO0 and SGWWn'ooo a
wear 10 offset it's obligation abroad on va
rious accounts From current Indications
the fiscal year will show balance larger
tran SGOO. OW.ODO as exclusive OF March
results the excess Of exports over imports
from July | amounts in value 10 almost
SWU.VN. Furthermore, our credits
in Europe nave been increased in recent
months by sales Of American securities
to foreign bankers and individual IN
y.sto-s. Discounts in London are some
,vha, frmer as a consequence 90 cettie-
,J,rt demands but the moveme 500
reflected ir local foreign excnaA:' no.
tations. which continue to rule IN laVoi
cf this centre. There is large anouh'
81 exchange for sale in the market when
cver demand sterling ad, ances 4 to 2
cent above i.sG. II is understood INA,
time loans recently in the local marker
have been made az low rs per GEM
for five and six months.
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