The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-09-18
FINANCIAL avn COWWERcIAL.
s,rrEpAY. septsmbsr II.

SATCRDAN ~"ptembsr II.
Keen speculation m IA" lnte-burough h
Metropolitan shares wds tns feature ~ the
trading ln the stock market to-day. In
the prefsrrei stock transactions N"r" a.
heavy a. in any other stock on th" l-i ant
In the preferred and common combined
sales far exceeded tho-'' n any -ingl" i-~n"
Roth common and preferred made sun-
stantial gains on tho day and closing pro-~
Chowed a gain 81 , points tor IA" common
and points for the preferred sine" the
beginning Of the upward movement ~
them following the annual report Of M"
Interborough RAPID Transit Company
The report showed that IN. In'arhprpugh-
Metropolitan has . mor' valuable equity
than had keen expected IA the eIrniugs
oi rs subsidiary. bat sr-.crlIt ,'n WAS also
simulated by vague reports. none 81
tncm IT an oftC.al character. % IA" eject
that satisfactory progress has neen mad"
On the reha bilItAtion Of the Metropolitan
system and that other developments II
prime importance IN tho local traction
ncld are impending Union Pacific ana
Steel common srist med slight fraCt iunll
stocks advanced and the tone ot the mar
kst as a whole WAS firm throughout the
session In bonds there was a cunt,nui-
ton Of the Improvement which set IN at
the beginning of the week. The hnnk
statement showed somewhat gpater
decrease IN surplus reserve than had been
expected The loss of cash. 81 S37.oon.
vas no greater than had been Indicated.
L. - 1s.saNa
considerably exceeded expectations.
though It had been considered that the
transfer az Rock Island stock early in the
week would contribute toward loan cN-
Isnslon, hut though the decrease IN
the surplus was greater than had been
expected the surplus roma ned at SCI. S,2.
IN. an amount unusually large for IN"
-sison Of the year and exceeded but
tNtcc IN corresponding weeks ui the past
decade
he market PAID no attention whatever
10 All extremely unfavorable Government
report on foreign trade Tor August. prob
ably hsCau-s AN unidvorable showing
had hcen Indicated 10y the trade figures
'pr the port uf New Work. published earlier
~ ~" week Nevertheless II j. a matter
tor -sr ous though; thA; August as In
four previous months Ut the year. lmr orts
"Ncced@d exports. and that m TIN. eight
months 81 tn" year imports exceeded
'Aporis. In no other year since ISaj ha-
there leen an import excess for tn. GORE
SISpnding p.rIod. In III. corresponding
months III 1919 tn" excess of exports was
$50 '"n. "- and tor m" corresponding
months oi iUTS eNpnrts sJc,'.sird imports
10y 1891 .l-SDUr. \ r-adJur;ment NAV -
expected, ~ u IA, l-"n sNp"Cisd IN the
f"ur nthsr months ~ the year an which
mp"rt balances were shown. thu change
coming from - d"Crsa-. ~ IN" purchases
If luNurI"s and an inc.ra.n IA exports oI
agricultural prndurts Tins month. for
tnsianse, cotton "NpoTts have been hsav-
t"r ~ quantity and much moro vaIu-
18Th, than IN tho 'i-st Two week, e last
september But It = uut II the question
That imports can ~ shrIuk aud export.
49, "NTs1nd On the remainder - the year
=, Ia l"av" IA" country debtor Ea'Ion
lie unknown haldnu, 80 trade. .Ar-udi.
tIr"- ~ American tourists abroad tins
rear having 'oan almost unpr", "d.ntrd
must b" - 3d'cI 49, -, tp overcome any
known Irare halanc' IN ~" tour months
from august Oh. Ia domestic rad. and
industry tho tendency of tho week was
eActiunary IN a -lnW and orderly fa.hiun
Bank dealings WEIR u par cent t-lnw
ihor" - b" corresponding week last year
Practically all ~ ~" trade reports con.
formed with IN" report at tank clcarIng-
Business generally - still resc,Ionary.
Rft IN" stuck market mpdn q slight ad-
vance in the Cour-' of the wees stock
having l'esn ptIIt" thoroughly hquIdst-d
"arii@r ~ n" wear and q hu,tne-- reaction
having b~rn very we'll appreciated and
y"rv loosely discounted In tho stock
market o. - apparent that the "Heor Of
,uch unfAyorall" devp l,prnents "a tho
foreign trad" relations and N" business
has he.u pretty well dI.opuntad
and that Interest centres almost exclu.
-, "ly IN III" political situation