Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1906-06-15


lines msst aAss teen exasia%nhas
diminished ~ Ehe eusf sstlks. shipp
meats ~ anthFseta. 10 tat nsush
hsigr only 3.soes.e TINS. against a.
ta.seea tuns In May. lsas. Claarang
house TssHgns ID tiss Isaaine cities
show very motsEste gsins the total
Last ssss being only atsaas ! per eens
greater than . ssaF sgo This In due
chiefly o. n large asclane NJ New faFk.
where speculation in much less sesiss
than . year ESQ In msns n the In
tsriof cities. especially IN the west.
n n noticed that tank eieaItngs stili
maintain q rood average ever last
year. Another bright spot In the gen
ernl situation ~ the iron end steel
trade. The demand Ear al sorts ~
Iron products continues nmsrkably
heavy and there h. no sisn whatever
a. abatement Fer months 20 come
the railroads. which ~ sane falls -
per cent of th. nations prsenesx. are
kcinw 10 t~ heavy buyens NJ iron and
steel. NOT oMly f0s rwnewsls bmt Sog
very unusual smaunts Of nsw mile
asa. The steel rail proesc, s0 Isos
Ia ovsrsold and ord~rs sor ossr I.e00.
On TINS srs already % u kooks TO-
1871 VIII Euch satisfactory coodl
lions 10 ne important departments %
industry Just noted " u Impossible
10 be pessimistie regarding the fussres
Not s~stisssesery.
within the stock market. conditions
are MOI 20 eminentiy Nstisfscsnry.
Some II The sncoursgins features
sbove siluded 10 have been vel diss
counted. Prices are exceedingly hish.
20 hixh. In fact. that investors are
mt rlshins for stocks when they can
secure more profitable employment
for their money In other directions.
Another deterrent feature u the large
present and prospective mssease In
the supply Of new securities. The
bond market Ia already badly longest.
cd with new issues which investors
will not take nntil money market con
ditions improve Al the same time II
In we'll known that the railroads. will
be obliged 10 raise considerable
amounts u new capital during the
next few weeks, either through new
stock and bond issues or short term
notes. The prospect. ~ tuurse. Of a
large increase In the supply % new
securities r. not nj first sight a huh
argument. on the other hand. our
leading bankers. who expect 10 float
these issues. will he obliL.d 20 use
their influence 10 keep The market
In a. healthy . condition - possible
In order 20 facilitate the liacing of
these issues. For this reason. and the
satisfactory outside sitaation. Il
seems useless 10 look for any impor.
ant decline In prices At the present
moment. IL In more than probable
that strong efforts viii be made To-
give the market an appearance Of
activity and strength. especially while
70 many conditions fayssr. Some
rather striking efforts Of this char.
acter have been made durinl the cur
rent week. Just nov the public In not
In the market to any extent, and the
operations on certain days showed
powerful manipulation. The situa.
ton. therefore. Is n that fasors an
upward trend In values with occa,
sional reactions. Stocks have been
accommodating in stronger lands. and
no doubt everything will be done 70
keep the market In good fern. There
Ii o large amount Of money In this
market awaiting investment. and
nothing but the fact that shrewd In.
vestors consider prices too high pre-
vents q quick absorption If floating
securities. A. decline In time money
rates just now would inevitably slim.
ulate investment buying. July dis
bursements viii o be available.
Last year. they aggregated sI35. 600.
900 and this year they will be even
greater. June and July Should Wit.
ness d comparatively easy money mar
ket, but when the crop movement
sets in higher rates must be again
expected. No undue strinsency. how.
ever. is probable while nj credit
abroad remains as strong AZ II now IL.
Fridays reaction was due TO re.
ports Of crao. damage. and showed
the sensitiveness Of the market TO m.
favorable news, which must be expect.
ed when prices are at such a high
level = -