New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-10-18
FINANCIAL MARKET
Heavy Distribution of Stocks
Fails TO Weaken Prices.

On q heavy volume Of business stock
market prices moved 10 new high levels
or the current upward movement, in
spite Of active realizing sales and efforts
IN some quarters TO bring about lower
figures. Commission houses reported in
/ creased buying orders from the public
I in the early dealings. bu, IN the after
noon operations manipulation rather
than outside buying was responsible for
the strength shown. Wall Street was
well supplied with bun tips. including
Mr.. LawsOn's announcement Of i'm
portaut news pending" the effect OF
" hich was pronounced IN circles where
sentiment is swayed 10y rumOrs rather
than by actual conditions. and although
stocks as rule sell off on the Boston
mans bull literature the general course
. of prices suggested that traders thought
the fighter OF the system at last had
stumbled upon some real information.
+ The speculative community is imbued
with the idee that the Washington ad-
miuisrration mas changed its policy tow
and corporations ana that il the future
concerns violating the law VIII not be
. prosecuted until they have been given q
+ chance To mend their ways
It is supposed that Mr.. Lawson's i'm
pcrtaUr news pending" relates to this
bun market making theory. but 1T may
well be doubted that any change Of the
. sort on the part of the government Is in
? tended. Wall Street has another argU-
meut, generously fostered by interests
4 who are anxious To distribute their
stocks at higher prices. that is attracting
. slue buying 10y people whose shallow
+ pates have given credit 10 the Demo
cratic war crg that former President
Roosevelt is public menace ana viii be
eliminated as I'd factor IGN our public life
in the November elections Tt is UNI
necessary 10 state that Colonel Roosevelt
4 is not popular in certain Wall Street cir
,fes. and the fact that il is assumed IT.
these circles FOR market reasons that a
. Democratic landslide ON the Roosevelt
issue VIII he recorded 20 the accom- PAM
f0eut Of "a strong stock market Is serving
IN bring iu buyers for the stocks that
! present speculative holders are anxious
20 sell Politics never exerts more than
q Passing influence upon tie stock mar
4 Bzet. and IL the present advance con-
uuues il VIII bo found that the under
wing reason Tor the better feeling on the
s part o. capital lies in favorable harvests.
sounder economic conditions and i'm
( proving foreign trade.
OF vast interest 10 the financial COM
nuuLtv arc tho foreign trade returns for
the month OF september showing
marked expansion IN the value ut ex-
ports of merchandise and q decline In
imports as compared with the CORE
spending period wear ago For the
eight months ended August - the bal
( auce ~ trade was against this country
! go the extent OF almost Sl.O0o.e0o. which
was oniv q small item In our. total debt
to Europe. and the publication Yesterday
. of the figures for the last month. exhih-
lung Tho largest outward movement of
merchandise since December. 1899. with
/ an excess of exports over imports 10 the
value of sol 49,. 079, naturally strength
ened confidence in the theory that VIC
are about 10 re-establish our position as
q creditor nation on foreign commerce
account The gain m exports iu Septem-
Der oser the same time last year
amounted III value 10 S14 800 l@S while
there was "a falling of IN imports of
/ *; 1888 the increase in exports being
cue in large part 10 record breaking
/ shipments of cotton al unusually high
prices Europe needs our cotton. ana ii
is willing L. take il al stin quotations.
/ Furthermore Europe doubtless soon viii
/ become au active buyer col American
grain. owing 90 the declining tendency
: I'm prices for an cereals. and II IS not un-
likely that wider foreign markets viii be
found for American manufacture IN tae
course OF the next twelve months.