The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-06-14
WALL STREET NEWS
Despite Dizziness. Market
Tendency Is Cheerful.
WEATHER IMPROVES IN WEST
Weaker Cotton and Grain as n Re-
saIt of Reports, and This Is Craft
fyiEg-EarIy Adjournment of Con-
sress Looked FOr-Interest in Gif-
ford PinehOt's Speech at ST. Paul.

New York, June 1s-The Hamilton
airship flight evidently divided with the
stock market Wall streets attention to-
day. At any rate, this was the explana-
ton commonly offered for the dullness
OF stock exchange business, and no doubt
there was in it at least a modicum OF
truth. The market in the main dis
played tendencies in reverse Of those
shown on Saturday, when pessinism and
speculative selling of stocks for the de-
cline were much in evidence, and al
though advances in prices were not very
large, and at the close were less than
recorded earlier in the day, yer they
testified 10 a greater or less degree &c
Improvement in feeling.
Probably this was mostly due to the
recovery OF stocks sold for the fall on
the last few days of last week If there
was any one reason more than another
offered for the rise. it was the preva-
lence OF warmer and clearer weather
over the entire Western part OF the
country and a good part Of the South.
Grain and Cotton Weaker.
This led throughout the day 10 weaker
cotton and grain markets. and 1t is need
less to say that such developments are.
Of all others. the most gratifying Of any
which could occur at the present time.
Likewise, in England financial senti-
ment was inclined to take heart over the
fact that the Bank OF England succeeded
in getting to-day without much difficulty
nearly all of the $1,000, 600 in gold offered
In sale in London from the TransYaal.
Here something OF a bull argument
was deduced from the indications for an
early adjournment of Congress and as
regards the probability that the report
OF the conference committee of the two
Houses of Congress on the railway rate
bill would be confirmed without obiec-
ton.
On the other hand not all OF the days
news was favorable. The railway rate
bin viii include. according 70 dispatches
IN the morning newspapers. the clause
inserted at the demand of the insurgents
in the Senate providing that the In
terstate Commerce Commission may hold
for a period Of ten months without A
decision the applications Of the rail-
way companies TO charge higher freight
rates. This. in the opinion of the greater
number of people In the financial district,
Will be a serious hardship to the rail-
way companies and seems an entirely in
defensible enactment.
Call for Bond Payment.
AS concerns conditions in the invest
ment market proper some enlightenment
was afforded to-day by the fact, or which
was commonly understood TO be suca
that a call had been made by the syndi-
cate that recently underworld the Atchi-
son. Topeka and Sante Fe Railway Com
pany's $40.00000O bond issue for o per
cent payment upon their subscription by
the different syndicate members. It wes
said that subscriptions TO the new bonds
by the Atchison shareholders only
amounted 10 about 10 per cent Of the is
sue.
Finally to-day comment of a not very
favorable sort was generally excited in
banking circles by the speech made on
Saturday at st, Paul, by Clifford Pinchot.
In which sentiments Of an extremely
radical nature We're expressed. The fear
was, OF course, that particular signin-
canoe was attached to Mr. Pinchots
words. The differences naturally drawn
from these were not perhaps well ground
ed.