New-York tribune., 1910-03-30
FINANCIAL MARKET
STOCK PRICES Up.
Money Rates Easy. Uhae
Sterling Erch0nge MOrcs
10 High LeTcI for Year

After a brief period Of weakness in the
early dealings stock market prices moved
To higher levels under the influence of
covering by the shorts and buying by in
terests who apparently believed that in
spite OF various factors I'm the situation
which encouraged the expectation of
lower quotations before "A sustained ad-
vance could be brought about the decline
i'm Mondays operations and that in the
initial operations yesterday warranted
ventures on the long side Of speculation
From the low levels Of the morning ad-
yances Of from ! 10 points were re-
corded by the prominent issues in the
early afternoon, and while slight reces-
sions developed before the close final fig
ures a. a rule showed gains as compared
with the closing Of the preceding day.
The copper shares which We're so weak
in Mondays market. led the upward
movement hut the character OF the buy
ing did not suggest that substantial Wall
Street interests were actively identified
with the speculation in them. Copper
trade conditions are far from satisfac-
tory. and sentiment as rule is bearish
on the copper securities. The best in
formed men in the copper trade. how
, ever appear To be bullish over the fut-
ure of the industry
Reports OF generous rains in the winter
wheat belt and the theory that the death
Of Justice Brewer will cause an indefi-
mite postponement Of the decisions in the
American Tobacco and Standard oil
cases We're effective influences in attract
ing buying by the shorts. though they
failed 10 stimulate a public demand for
secuTities According 20 Attorney Gen
eral Wickersham. there is only one pos
sihility OF a rehearing in the oil and to-
bacco suits. II the court stood 4 TO t
on either OF these cases II might order a
( rehearing following the selection Of a
new justice rather than allow the death
Of Justice Brewer 10 decide any cases.
This. according To Mr.. Wickersham, is a
possibility but not probability. one
thing the Street believes is likely 10 hap
pen, namely, attendance by the court at
the funeral Of the dead justice at
/ Leavenworth. Kan. and an adjournment
/ OF the court on Monday. This idea ap-
pealed 10 the stock market bulls, who
saw a few more days Of life for the cor
porations Atchison announced a new
bond issue yesterday. but the stock was
not adversely affected.
The Atchison road is a great property
of enormous earning capacity, and II
needs more money TO spend on work that
viii serve 20 increase the intrinsic value
Of It's securities. Payments on the new
issue VIII extend over a long period and
will not DE a factor in the immediate
money market. Money was easy yester-
day and domestic exchange as rule
wac IN favor OF New York. Little atten-
lion was paid TO another advance I'm
sterling exchange. demand rates moving
to the highest point OF the year. The
general belief that the Consolidated Gas
Company is earning more than its re
norris show. and that at no remote period
ihe dividend viii be increased. induced
some buying Of the shares. and while
there were no dealings in Brooklyn
Union Gas there was a difference OF
poiuts between its bid and asked price.
There is little OF the stock available for
market purposes. but there appears TO
he 4 movement under way 10 advance its
price 10 a higher level.