New-York tribune., 1911-03-21
FINANCIAL MARKET
Bear Traders in Stocks Forced
to Run to Cover.

The Supreme Court made no announce
ments Yesterday in important corpora
tion cases. but reports in the carly morn
ing tina, a decision would he handed
down upholding the government in its
s,iit against the Standard oil Company
encouraged certain amount OF snort
selling on the part Of traders VINO suo-
scoucntlv we're compelled to cover their
contracts on a rising market. Dcclocd
strength marked tho course Of prices III
tho afternoon. Whilc Improvement was
roported in the volume Of commission
house business. although the larger part
Of the dealings represented wholly pro
fessional movement against operators
who accented as gospel truth reports IN
irresponsible sources that the standard
oil Company was 20 he put out of buSi-
ness by tho highest tribunal IN tho lana.
The Standard oil Company will not go
into lioudation. AS far AS producing and
refining oil is concerned. in the event OF
a decision declaring tho concern coinni-
nation in restraint Of trade, and ITS prop
crtv and the intrinsic value Of it's securi-
t:cs will not be injured if 1t - compelled
,o adopt now form Of organization.
silly epcculators. however. appear 10
believe that If tho Supreme Court oe-
cidcs that this great company IS not
operating within tho terms Of tho anti
trust Law stock market values VIII tadc
aKa,- II is really tircsomc 10 feel com
.1gi-s f.
vested rights cannot nc swept away ny
tho supreme Court and that the supreme
Court stands for tho protection ot vested
rights. Investors arc not selling stocks.
Prominent Spcculators are not selling
stocks Ranking interests arc the big
acst holders ~ stocks aud they ar" add
mo to thcir lines whenever opportunity
offers If the supreme Court decisions
i'm t4C important corporation suits shpHid
ho against tho companies banking inter
oets will stand ready with big bags to
,,kc All the stock that may hc pushed
unon the market Tho hig men arc in
control Of tho money market ana thoy
arc banking on q period of industrial OK
,,,reion =, no remote period. This hoine
the case why should thc little operator
worry about the future? The general
market closed strong. tho highest prices
of tho day being recorded in the last
bour. -. Paul Reading and Union Pa
eff, supplying the chief features of
strength
Moncv rates were easy, with no inn
rrovomcnt reported in the demand for
accommodation in any department of IN"
market. The foreign exchange market
also was inactive. Bank statement fig
urcs for the last week preclude the pos
,ibiity Of material advance in loan
quotations in the immediate future. aud
according 10 the opinion of the best in
formed mon IN tho financial community
actual strength i'm money viii not tie
ycloy before the autumn Of the current
wear. Tho publication Yesterday Of tho
! e,oycrnments cotton ginning report was
without important effect on the course n
cotton prices. but the figures settled
heated arguments tnat have occupied Tin"
attention OF the cotton trade far many
months and showed that there viii be
cnoueh cotton TO supply the needs Of the
worlds slinncrs i'm the rest of tho year
al anything near prevailing quotations.
( Bun leaders in TIE cotton market have
/ for months insisted that tho crop of 1910
would not ,un above ! .o'D.on bales
/ Tie ginning report shows that the
amount Of cotton ginncd for tho 1910 !
season reaches almost l2,rDO0o bales.
comparing Hith luo12.13l bales % tac
year before.