New-York tribune., 1910-02-24
FINANCIAL MARKET
DULL Day IN STOCKS.
Money Rates Easy, WhHc
Sterling Erchange 4duances.

Transactions in yesterdays stock mar
ket were light in volume, the total
amounting TO only 3S6.O46 shares. the
smallest business for any day in the
current year. Price movements showed
great irregularity, with no definite trend
in either direction, except in Reading
and several issues which were affected
by influences that had no bearing on the
general list. Commission houses had
few outside orders. While there was no
evidence Of important buying or selling
by substantial interests. the chief trad
ing being for the account of an unim-
portant professional clement which ap-
parently held no decided views as 10 the
best side of the market for quick profits.
higher levels profess to believe that the
larger interests arc still accommodating
stocks, but there is nothing in the char
acter of speculation that suggests buying
Of this sort at present. Stocks already
are in strong hands. and it is quito prob
able that the opportunity to reduce lines
will be taken on all advances. Although
there are too many uncertainties in the
situation to encourage active buying at
current levels there is nothing in the
present situation that warrants the sale
of We'll protected holdings
Amalgamated Copper, Reading. Union
Pacific and United States Steel supplied
q large proportion of the days dealings,
but even in these issues comparative
dulness prevailed, reflection of which
was found in the net price change, which
for Amalgamated was d a loss of Il;
for Reading a gain of /, for Union Pa
cific a loss of "a and for United States
Steel q loss of a. Louisville & Nash
Vile, Big Four" Colorado & Southern
and American Telegraph and Telephone
were strong features, the improving
financial position Of the companies, and
in the case of Louisville the expectation
of financing that would be of benefit TO
the stockholders, attracting some good
buying of the shares. though the issues
were not at all active. Growing
strength marked the Pennsylvania group,
and a favorable impression was created
by the advance in Panhandle, which
ended at a net gain of more than 1
point In the general market net gains
and losses were about evenly dlstrib-
utcd.
Money rates remained at an easy level,
while pronounced strength was reported
in the sterling market. Foreign houses
bought stocks Oh balance on the local
exchange to the extent of :o.Nn shareS,
but in spite Of these purchases demaad
sterling advanced - points to q level
that encouraged the expectation of fur
ther heavy shipments OF gold TO South
America for the account OF LONDON
Commercial bills are in ilSht supply
while the demand for remittance against
o,,r increas sing imports OF merchandise
and obligations in connection WIN 'Hdi0h
interest payments due on American Sc
curities held abroad is heavy. And there
is no prospect that conditions III the
sterling market will change in favor OF
this country in the immedlate lutui & 60
nocially AS this is the period OF the seai
u,bnn exchange generally runs against
TN. United states. Europe IS not TAX
,,r o,,r securities in volume large
.,,,,,.,,, IA no much of a factor in the IN
ternationaI financial account put II -
+bo,,gb, il, banking circles that the visit
of Mr. Morgan 10 foreign capitals may
he followed by fuller appreciation Oh
.b. ,,ar, of foreign capital of the merits
of American Investment ISSUES