The Washington herald., 1911-04-26
WALL STREET NEWS
Stronger Tendency Revives
Long Weak Period.
BUYING POWER INCREASES
Speculation Returns-Market Strong.
Depression Ends-Business Active.
Slow Periods-Criticise Steel Trust
for Fixed Price Policy-Steel Earn
fnEs Show Remarkable Increase.

New York, April 25-In general to-day
ae stock market exhibited continue
hon of that stronger tendency in prices
which put in an appearance about mid
day yesterday. On one or two occa-
sions the market was somewhat weak,
but only so for brief periods, and SEEM
ingly. as the result of speculative drives,
made for the purpose of facilitating the
buying in of stocks sold previously for
the fall
At any rate the market recovered so
quickly from these spells of depression
as to justify the inference as described
and toward the close of the day business
activity and strength of the market con-
tinued.
Whether or not the better aspect of
affairs in the last day and a half is due
TO the merely sentimental effect of ris-
ing prices. or whether the strength was
really due to the inherent power Of re-
sistance presented by the market to
speculative pressure is perhaps question
able.
One fact, however, remains patent,
and that is that the buying power of
the market has lately increased. AS
was the case yesterday, speculative in
terests for the fall in prices found moth
ing in routine or in other items of news
it in its campaign.
No attention whatever was paid to the
publication to-day that the chairman of
the board of directors of the steel cor
pnr1ticn was about to resign, even if
great number of critics have lately been
found VINO have expressed dissatisfac-
ton with the policy pursued by the pres
ent management of the corporation in
holding prices for. steel products at rela-
lively fixed figures.
March Quarter Report.
Much more concern was professed as
tC the character of the statement of the
earnings of the steel corporation for the
March quarter, due to be published after
the close of business. The so, 800, 900
profits Of the corporation in this period.
when officially disclosed. We're somewhat
lover than the figure fixed by Wall
street gossip 1t was, of cours., ex-
pccted that the earnings for the first
quarter of the present year would be
decidedly less than for The March quar-
Ter a year ago. The real hope of op-
timiStS in the matter was based upon
the idea that the earnings this year
would show an improvement over those
for the last quarter of 1910 and this ex-
pectation was. at least in substance, en-
tirely justified.
In the last three months of 1870 the
earnings of the corporation decreased
from month to month. and in the first
three months of the present year, earn
inGs increased progressively, and at
about the same rate they decreased
in the December quarter 1t is worthy
of note that the earnings. as made
known to-day. were very nearly the same
as fer The March quarter two years
ago.
Other items of general news to-day
comprised the official declaration that
the guarantee at present made by the
New York Central Railroad OF the cur
rcnt dividend upon the stock of the Bos-
tor and Albany Railroad. had been
shared by the New Haven Railroad
Company, the latter also naturally
agreeing to share either the gains or
losses of the New York Central arising
from the Boston ownership.