Bisbee daily review., 1910-03-30
STOCKS WAIT ON HE APRIL
 SETTLEMENTS
Henry CIewS Says Market Is. Bound to Halt Until Labor. Troubles Are Cleared All Around,

Holiday quiet pervadsd the stock market at the close of the week, Many prominent operators are stiu absent on Easter vacations. and this also tended to discourage activity. The most important feature of the week was the offering of $50 000.0GO New York City lis. The issue wcs a sue cess. inasmuch as it was largely over subscribed. and the prices realized were fair, considering unfsvorable conditions. The credit of New York city is unimpaired, yet bond issues have been coming along with great frequency. and the market has been well if not oversupplied. It is esti- mated that about s10.000.000 of this issue were placed abroad. which is satisfactory. especially in yisw of the fact that conditions generally favor stocks more than bonds. The latter yield only a fixed income. and in times like the present when the cost of living has greatly expanded. those dependent upon investments for their incomes prefer stocks which offer bet ter returns and a chance of increased dividends.
 The stock market is in waiting at titude. and is likely to so remain un. til the April settlements are over and the labor outlook becomes more clear. Funds withdrawn previous to the first of April for the usual disbursements do not generally return before the middle of that month, leaving an in- terval of unsettlement and possible stringency. Money is firm abroad as well as here. and a further advance in the Bank of England rate would not be surprising. The British political situation somewhat distdrbs the Lon don market. as does the low price of ConsoIs. wild promotion Of rubber companies, and the large issues of se- curities in general. IL is quite cer- tain that the situation abroad is not as strong as here. and this fact will have to be taken into consideration on the renewal of any bull movement on this side. Possibly Europe might become a seller of Americans on any pronounced rise, a contingency whicn is not desirable in view of the present condition of our foreign trade. and the indications of renewed gold exports. Of late we have been freely sending securities 10 Europe in pert settle ment of an adverse foreign trade bal ance; and this influx of foreign capital will undoubtedly be a stimulus. nos only to this market, but also to the industrial interests which furnish ral.- road materials.
 The present month has witnessed very heavy offerings Of new securities. which have been surprisinfiy well taken. 1t is a noticeable feature at the moment that securities generally are in strong hands, the floating sup ply in the Street being relatively
 small. The public is certainly not m the market to any extent. and this Is one of the strongest features in the situation. Railroad earnings continue satisfactory, and traffic generally is heavy. The only disturbing feature iu the railroad circles is the rnrest of labor. and the possibilities Of un- reasonable demands. Railroad man agers are generally wiling to make moderate concessions to their em- ployes: but are finding that stock holders also Ire insisting upon hay ing a share In any prosperity wh'ca the railroads may be enjoying. Ses' eral prominent railroads have already increased their dividends. and there are rumors of others 10 follow. Under