New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-05-19
BANK STOCKS ON sTot
FINANCIAL MARKET
Lightest Days Trading in Stocks
for 1910.

Total transactions in yesterdays stupid
stock market were lighter than on any
preceding day this year, and amounted
to 237,S00 shares, Of which more than
three-uuarters were supplied by Anal
samated Copper, Reading, Southern Pa
cific, Union Pacific, American Smelling.
Brooklyn Rapid Transit and United
States Steel In these issues as well as
elsewhere in the list price changes as a
rule were confined to fractions, with the
general tendency in the direction of
lower levels without the accompaniment
Of genuine liquidation Traders were
bearisb because of the refusal of the
public TO come into the market and be-
cause Of the absence Of speculative IN
terest in the operations by the more
substantial Wall Street operators The
dulness was SO intense that the entire
days transactions could easily have been
handled in the first half hour Of bust
ness without any pressure upon the
Stock Exchange machinery, while SO far
as actual investment operations were
concerned any one house in the Street
could have taken care of the total and
even at that have shown unimportant
commissions There is practically no
commission business in Wall Street at
the moment, yet in the absence Of dis
tressing developments it is generally be-
neved in financial quarters that a
marked change for the better will take
place at no remote period, especially
with the approach Of the time for the
adjournment of Congress, despite the
fact that Congress is not directing It's
activities along lines inimical to our cor
porations. Wall Street always feels bet
ter with Congress out Of the way, but It
IS not unlikely that when the current
session of the present Congress adjourns
SPECTATORS will begin to worry over the
possibility of the election in November
of a Democratic House. In the late
afternoon the general market displayed
a better tone and in few issues trad
ing showed a tendency to broaden, the
weakness in cotton and grain attracting
covering of shorts.
The banks continue TO gain on their
operations with the Treasury, while
gests that the interior movement OF
money soon may turn against New York.
The demand for funds outside this city
is more active. particularly in the West,
and the fact that our banks have main
tanned rates for loans at a relatively
firm level in the face of a heavy gain in
reserve in recent weeks evidently reflects
q belief on their part that they may be
called upon at no distant time to finance
interior requirements. In the time
money market quotations for short ma
Turtles are somewhat easier than re-
Gently reported. but rates for six months
and over the year holo firm. while in
view Of the dulness in the stock mar
ler and Clearing House bank reserves OF
more than 100000 call money is alb
normally high in comparison with the
levels prevailing earlier in the year.
Sterling exchange opened at an advance
Of 10 points for sight rates yesterday, but
declined before the close TO q level ~
points below Tuesdays final trading IN
the afternoon being influenced to large
extent by sharp break in the cotton
market and on REPORTS Of progress IN the
negotiations for the placing Of American
railroad bonds abroad.