New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-05

| excess Of that recorded IN TIC ' T.,
in the three preceding years. '"o
crease being due to a gain IN ac'""
dustrial operations rather than 10 spee
lative transactions on stock eAo"""
while a material decrease In the hu'"
Of idle railroad cars In the ias'
weeks supplied additional evidence
enlarged trade movements Resu''' L.
not be up to recent expectations
they are big enough to be extrei'e''
pressive. Seasonable weather mas SUM-
lated retail operations. but io'
business Is still being conducted upo"
most conservative basis.
Securities markets are showing pio
nounced animation on advancing pi''
both investment and speculative defna"u
exhibiting marked Improvement. NC"
issues are readily absorbed ana corPo'"
tions are making further plans Tor saie'
of bonds and notes for financing pe'te'
ments and for other physical requhe
ments Of their properties. Europe SHOW"
a disposition to take our high grace III
vestments. Paris has opened It's oiiiciai
market to our stocks, an instance VI
which Is found In the listing Of Atchison
on the Bourse at that centre, ana LON
don spectators are buying American
shares apparently to hold for mucn pet-
ter quotations London discounts ana
money rates at this centre are easy
while the proportion Of the Bank OF
Englands reserve to liability and the
reserve above legal requirements OF the
local Clearing House institutions are I'M
usually heavy for this period Of the
year, the significance Of which will be
quickly appreciated by business men at
a time when other conditions are favor
able to Industrial expansion. Financing
by railroads. the impending Panama
bond offering and increased activity on
the Stock Exchange have served to
bring about a slightly firmer tendency In
interest rates, but a strong market for
funds is not looked for In the immediate
future. The demand for mercantile
tinues light.
While curtailment Of production of cot
ton goods is more extensive than that
recorded In many years, reports from
the drygoods trade are somewhat better
than those recently noted. Supplies in
first hands are limited. and the fact that
merchants are carrying small stocks and
showing some apprehension about the
90 ha lo eft q
to some minds the probability Of an
increased buying movement at no dis
tant time for future requirements. The
statistical position Of cotton is strong,
report on the growing staple. showing
conditions as Of June 1. the larger In
terests on the Cotton Exchange do not
look for cheap cotton in the summer
months. Reports on wheat are gen.
orally favorable, and material deteriora-
ton as a consequence of dry weather In
some parts Of the wheat belt Is not
looked for. Prices are lower for most
options, but efforts to break the corner
in the May deal have been unsuccessful,
although some SPECTATORS see the pos
sibiity Of trouble for the bulls who have
been compelled to take 1O,GWVO bush
els or more at time when underlying
conditions do not favor higher quota
tons. Winter wheat and oats still
promise bumper harvests.
Price reductions on finished steel
products so far have failed to develop a
marked increase in demand from con-
sumers. but manufacturers appear to be
quite confident that the cut in quota
tons is the first step I'm the return OF
the iron and steel trade to a normal
situation. 1t should be borne in mind
that the industry Is entering the usual
period Of light consumption, and for this
reason producers do not look for the
same activity on the part of buyers as
that reported following the declaration
Of the open market I'm February. lSo'.
The railroads are not yet important
factors In the trade, but their growing
needs should soon be reflected In heavy
orders for rails and structural materials.
Copper producers have sold a large
amount Of the metal in recent weeks for
future delivery, but they are beginning
IN show some unwillngness to make fur
Their contracts at prevailing prices. The
copper trade Is in much better posi-
ton than at any time in recent months,
and p quotation Of Is cents a pounds for
the product Is expected.