New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-04
FINANCIAL MARKET
New York Bonds Active. the
4l4s Selling at New High
Record Price.

Opening prices III NeSIclU"
market were under the closing hsures
Of the preceding day, while In the SUD-
eenuent forenoon operations the tendeh-
cv of quotations was in the direction OF
lower levels, losses however. being con-
fined to small fractions. Trading was
light I'm volume in all parts OF the list
The general character of the business
reaected little public interest in the mar
lot evcont in the bond department.
,vbere further investment buying was re-
rorted. especially in the Rock Island rs
Norfolk g. Western Is, Western Mary
land As Atchison convertible Is anu
New York City issues. Covering Oh
eborts in the afternoon brought about
advarces in the larger number of shares,
u.bile in a few stocks marked improve
mont was reported, American Telephone
and Telegraph, Canadian Pacifc ana III
ternationat Harvester. for instance
making new high records. The last
named showed a gain Of more than -
noints as compared with the closing OF
The preceding day, buying 81 the ISSUES
being based upon the company 5 earn
inss IN the last calendar year WHICH
,.oro heavier than ever before report
cd both i'm gross and net, the lat
Ter amounting TO 500, 25S.UG. compared
with S1S6f7 pa in 1909 and S12'9-6of'
in 1908. Strength in the telephone anu
telegraph stocks followed the report 'Iia'
tho American Telephone and Telegraph
Co,bnanv had arranged a working agree
mont between the Anglo-Amerlcan an"
Direct United states Gable companies
and the Western Union.
rr,o was in demand on a revival ol
the theory that the Canadian PACING III
.orosts eventually would secure control or
the Erie property. From present ihuica
,iore there is about as much chance OF the
Erie becoming Canadian Pacific proper
=, oe there is of Canada becoming a
,,art of the United states. The Stanley
,..solution for an investigation OF Ihe
United States steel corporation maue
,.ro,rees in the lower branch OF congress
,..,s,ardav. but Wall Street paid niue
a..e,,ion IN washington dispatches tell
80, % tho virtuous efforts Of certain law
makers to find out the reason ior tHe
,,.;s.o,ce of the best managed CONNER
oiol onternrise in the country. steer
.,,.,,,o,, closed at a net gain. A Ittle
caroreesnan from Georgia. VINO Is
onv,ous TO be in the same class WIN
c,erlev of Kentucky, has INTRODUCED
,oso,rtion for an investigation Of the
,,,,orican Sugar Refining Company. but
.,.eo,e IN the sugar belt show most
,.,o,.;,o refusal 10 become excited over
.te. rawlings of the man from the crack
=" etate There is a suit no" peholhS
in the Supreme Court against the Amer
icar Sugar Refining Company ana u Is
.,.ortb noting that the company has ON
.,,,,. announced that in the event OF
decisions against the American Iopacco
nd Standard oil companies II VIII pro-
- 70 reoreanize along the lines OF the
.-.,,,.s decree establishing the standing
-, oorrorations under the Sherman anti
trust law.
So far in the current week the IoSli
hanks have lost more IMAM F-'''O''V'
IN their operations with the SUD
treasury. but on ordinary income ac-
count the federal Treasury shows from
Nav an excess of disbursements over
receipts Of upward of 100000. For the
6scal wear 10 date, however govern
mont receipts. exclusive Of Panama
Canal and public debt account exhipit
an excess Of more than SS0.WD. com
rared with a deficit in the same time last
year of s16.103S23 while on all ac-
counts the deficit stands at S2l'sh'o@o
AGAINST deficit Of S429l3,2s9 a year
ago Of which S3l .01S,9l4 represents
ravments from the general fund In the
treasury for expenditures on the big
ditch" Under the authorization OF
Congress the government has the privi-
leee of issuing 5000, $4,000 bonds for
Panama Canal construction account and
az the working cash balance in the
Treasury vaults amounts TO less than
sos 600 900 II is not unlikely that Sec
retarv MacVeAgh soon will offer for sale
from so ONO. 900 TO $4,000. 600 Panama