New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-03-01
FINANCIAL MARKET
LIGHT DRY IN STOCKS.
Heavy Demand for Remittance
-Adrances Sterling Rates.

Stock market prices were strong IN
the best part of the day. with last quo
tations at moderate net gains through
out the list of prominent issues. Trad
ing was not active, though in the last
hour the persistent strength reported in
all departments encoura ged a broader
demand and induced conservative specu-
latsrs who had been waiting for a re
action to Join the buying side in such
stocks as Union Pacific, New York Cen
tral, Amalgamated Copper, Reading and
United States Steel. There was little
outside business and while the profess
sional element predicted greater interest
from the public in the event of no de-
cision in the American Tobacco case, the
midday announcement that the Supreme
Court would not hand down q judg-
ment in the suit failed to attract an
active inquiry from commission houses.
! Operators short of stocks were moder-
| ately heavy buyers. and the larger part
! of the days Improvement was based on
operations OF this character and on buy
| ing by professional traders for quick
turns on the long side of the market.
! The chief selling came from substantial
/ interests whose accounts showed paper
profits on purchases made at recent low
levels Securities bought a few weeks
ago may now be sold at figures that
represent substantial gains. especially in
Union Pacific. United States Steel,
Reading. Louisville & Nashville, Allan
tic Coast Line. New York Central and
International Harvester
Total transactions amounted to trif1e
more than 100000 shares, the larger
part of which was supplied by ten
stocks. with more than -one-half of the
entire dealings in United States Steel,
Union Pacific and Reading. Louisville
& Nashville was strong on light VOL
ume of business. while the general rail
road list offered successful opposition
TO bear pressure, buying on moderate
scale being based on the favorable earn
ines reported from all parts of the coun-
try and on the weekly statistics of traf-
| fic movements in and out of Chicago
At present there is an actual car short
age in many different sections. The
/ general market closed firm, with the
chief gains in Union Pacific. CONSOLE
GATED Gas. American Smelling, AmeFi-
can Sugar Refining. New York Central,
1 Louisville & Nashville, Central Leather
and Atlantic Coast Line. Call money
continued TO exhibit the firm tone noted
last week. while further strength deNel-
oped in foreign exchange under an act
I've London demand for remittance. I'm
less Europe becomes q heavy buyer OF
our securities. gold doubtless will be
shipped to London and Paris in the
course OF the next few weeks
Detailed figures of the Country's for
eign commerce in January reflect an
enormous increase in the buying power
of the United States in other markets
/ and afford ample reason for the argu-
mert that domestic consumption Of the
products Of our manufacturing indus
tries is running at d rate that means
solid prosperity for business circles
and in the statement of exports figures
also are presented showing that the for
e;gn demand for goods manufactured in
the United States is improving Total
export figures III the last month nave
declined entirely as a consequence OF
lighter shipments of food products and
cotton. the latter declining in value to
the amount of almost So, 900. 600. against
q loss in foodstuffs Of $7.316,33i. In
January imports Of crude materials for
use in manufacturing, manufactures for
/ further use in manufacturing and manu-
features ready for consumption amount
cd in value to SlDG. 331 $50. an increase
1 of SD 140. 600 over the same time in
! 1909 while for the seven months ended
January 81 there WAS gain of SlSl,-
/ .ttti go, compared with u gain in eX-
rorts Of manufactures and crude ma
terra. used ia manufacturing Of 81, lob
] 10. for the month and S35.G36.I29 since
the first of the fiscal year For the
seven months exports of foodstuffs, IN
GLIDING food animals, have declined to
the value OF $40 .62G.905. Total imports
OF all products since July /. 1909, have
increased S193, 679.o5S, against a gain
in exports OF S52 $50, 16G. High prices
have interfered with our export trade
in grain and cotton, but probably more
Of d factor IA restricting the outward
! movement has been the Increased de-
uand for home consumption