The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-04-07
STOCK NJ ARKET
HAS NO FEATURE
No Special News Development
TO Account for Rise
in Prices.
MOVEMENT IS UNIFORM
MOVEMENT is UNlFO M
Bark Statement Shows Grea;
Decrease in Loans. i'll
creasing Surplus.
Lspeclai 10 The rimss. p!apalen.I

Especial to The Times D!spatcnJ
Now York. April 1.-THE rise In the
price OF stocks which at the close OF
business on Thursday afternoon had
plainly gained somctninS more tnan
the usual Roadway. was carried on TO-
daj from the very opening OF the stock
Exchange with better puoyancy tnan
has been seen al any time sincc the
upward movement began over month
since Tic feature OF the advance
Was that there were no features. The
rise wsH practically Uniform, and did
not appear to be based OH any one
special DEVELOPMENT in the news.
The announcement over tho holiday
o. II rcccivcrship for the pere Mar
ructtc railroad Was not regarded at
all. nor should IL have been, inasin U CHI
hB II was of merely technical charac-
ter. Speculative sentiment was occu-
pied by continual reports of bushes 5
Improvement, by the great increase
shown In bank clearings, and more
than anything else. by tho prevalence
OF warm spring weather all over the
country There were no reactions in
prices during the day. and the close
"as at tho highest prices.
The bank statement wa. chiefly in
teresting because OF the fact that in
the actual form Of the return a great
decrease In loans occurred. which
Turplue. 1t appeared 10 be the scnti-
ment IN banking quarters that al
though somewhat higher ratcs for
money might be looked for during the
spring. yet that the spurt in rates
witnessed last week was OF purely
temporary character caused by tho
operation OF factorS incident TO the
April settlements In all the worlds
financial capitals.
Despite the advance in the stock
markct there were no very sensational
or striking developments in las, weeks
hnancial news. and tho chief feature
OF interest In Wall Street WAS the
mere howard surge of the Securities
iharhct itself. proceeding from !ts own
inherent momentum. Railroad earn
ihss as they were published for nc
month OF February were very favor.
G BILE.
From almost every trade quarter
comes a story OF improvement and a
desire TO do business
Throughout the week IN. pri,,,h
coal strike was. so far as the sccurI,,,
market was concerned. matter OF
ancient history. and while som. Of
'ho newspapers have been trying IN
get UP scare over the prospcct or
AN anthracite strike here, !, IS s,iIl
inc consensus Of opinion that su.pen.
sion OF coal mining will not las, much
'''stI' iihc"lsc stories OF damage
b% the foods In tho West. ana of con
.eduen, interference with railway
traffic did not induce any pessimism
at all in the financial district par
,iells because II has been time and
again demonstrated that such an
overflow OF water at this season OF
the year IS OF incalculable beneht to
tho crops.
There can DC no doubt, on the other
hand. that Distinct optimism was en-
rendered by the publication of the
figures OF the increased pig iron pro
ducton for March. accompanied with
nanitestly higher trend In the
price OF tho commodity. 1t is com.
monty expected in Wall Street that
tho financial statement OF the Steel
Corporation toward the first quarter
OF the year will be poor, and also
owing to the enlarged deliveries from
the steel mills that the record OF un-
filled orders on the books OF the cor
poration at the end OF March when Il
is published will show considerable
decrease. Yet. nevertheless. the
brighter outlook for the Industry re-
suited In e considerable advance dur
Ing the week in the quotation of tho
United States Steel shares
New York. April S-Money OF cali
nominal Time soars nrn: sixty
days. So; SIX months. rs. Prime
mercantile paper steady. 4I4 l-2
Sterling Exchange easy, SIS, for
sIxty-day bills: si.sss5 for demand;
commercial bills, $3.50 IA.