The evening times., 1911-04-21
N
STOCK MARKET
Volume of Business Fell Be.
low That Of Preceding
Two Days

New York, April 21.-Prices NOV
ed listlessly within narrow range
on the stock exchange today and the
volume of business fell far below that
of the two preceding days. During
the first hour Of the session specu-
lation was broad and active, with an
upward swing following. moderate de-
clines at the opening Trading fell
off thereafter and the market was
llfeless final figures of the day show
Ing only q few changes of sig
nificance.
The affairs of the Gould railroads
continued to hold the chief place of
interest and the confusion of ideas
which existed as to impending chang
es in the situation was the chief
cause Of the falling off of specula-
ton. The confusion was increased
by the widely circulated report that a
Hartman representative, who also is
closely affiliated with the Rockefeller
interests would take one of the
places on the Missouri Pacific board
vacated by the resignation of Kuhn
Loeb interests.
In view of the banking connection
between the Kuhn Loeb interests and
the Hartman lines, Wall street was
at a loss as to an Interpretation of
the situation and traders preferred
to make no fresh speculative ven-
lures until the situation was defined
| more clearly. Missouri Pacific was
feverish all day, moving back and
forth within range of nearly two
points. The Hartman stocks also
were aftected bv the same influences.
Union Pacific in particular was weak,
closing with loss of point
United States Steel was under
pressure 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
ent month are estimated at 10000 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 We're reported
today. WV
Even the increased activity of con-
gress and the administrative authori-
ties at Washington connection with
the Mexican difficulty failed to bring
forward that question as q disturbing
factor in the financial world.
There was noted today O lessenine
OF the demand for stocks to cover
short contracts, and it was assumed
that the short interest had been re-
ouced materially. In the final hour
today the bears made vigorous
drive at the market. Their attack
was particularly successful in the
1ertilizers stocks, American Cotton
OIL losing 2 points and Virginia.
Carolina chemical a lesser amount.
Erie and Chesapeake and Ohio sold
of point in the movement.
An advance in the proportion of
the bank Of England's reserves to it's
liability from 1885 per cent to its
liability from 1885 per cent to 477l
per cent was shown in today's week.
~ statement. The figure despite this
substantial recovery of the past week
is below that of the corresponding
week of last year.
The bank of France made a favor
able statement, reporting a substan-
tial addition to its gold supplies and
contraction of nearly $4,000 O00
in bills discounted.
Bonds were steady. Total sales mar
value $2,O9S,O0O. go
U. S. bonds were unchanged IN
call. ~
Money Plentiful.
London, April 21.-Money was