New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-04-13
BANK STOCKS ON STOCK EXCHANGE
FINANCIAL MARKET
Extremely Dull Day in Stocks,
with TrifIing Price Changes.

The stock market yesterday sank a
little further into the slough OF dulness'
total transactions amounting TO only
1O7, 63S shares, the smallest business Tor
a five-hour day, with only two eXcep-
tons. within the last fifteen years. and
in striking contrast with the record
breaking activity Of day in April ten
years ago, when the sales aggregated
$4,000 shares, nearly thirty-rould the
volume Of yesterdays transactions. IN
only three issues, United States steel
common. Reading and Missouri Paclfc'
were the dealings in excess of. loot"
shares. and the movement Of prices was
n lstless as the transactions In the va
rious stocks were small. The price ten
dencv was downward until the last half
hour. when a rally came, on covering OF
shorts in small way. the close pelng
irregular, with few OF the net changes
larger than fractional. Commission
house trading was at the minimum. ana
the selling was mainly for the short ac-
count. The prospect Of three-day holi-
day. which became reality after the
close Of the market, was again one or
the contributing causes of stagnation'
and the possibility of the handing DOWN
Of the Supreme Court opinions in the
STANDARD OIL and American Tobacco
cases on Monday was also an influence,
as was the progress being made at
Washington with the new tariff meas
IRE in the Democratic House. The
PENNSYLVANIA Railroad Company made
tho announcement. foreshadowed In the
annual report Of President McCrea. Of
an issue of Sal 100000 new stock, which
will be offered for subscription to the
shareholders, and a slight decline fol-
lowed. The market as whole was not
weak. little selling pressure being EVIL
dent in any part of the list but until
,he trust decisions come. or some ms
nortant development Of another sort &C.
ours. there is practically no likelihood
Of any definite trend being established
The situation in the iron and steel IN
dustrv. as reported in the weekly sum-
maries Of the trade organs. is not prom
Using. Business in both the pig iron
market and in the steel trade is SAID 10
he decidedly quiet, with shading of prices
for various steel products, the continu-
ance of hand-to-mouth buying by con-
sumers perhaps rejecting their desire TO
defer extensive purchases in the eXpecta-
ton of obtaining more favorable terms
after the coming revision of the iron and
steel schedules OF the tariff. The bust
ness in rails, however. is good. the steel
CORPORATION reporting the receipts OF
orders for nearly $4,000 tons in the last
week.
Nominal rates still prevail In the
money market. The high for call money
Yesterday was "a per cent, and rates
for time accommodation were made
slightly lower. with little effect in slim
ulating the demand from borrowers. The
banks. unable to loan their funds at re-
muneratiye rates. are continuing TO make
considerable investments In short term
notes of railroads. one new issue of which
was announced yesterday, that of ST.
500 900 by the Maine Central, which was
taken by a Boston banking house. the
foreign exchange market was little
higher Yesterday