New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-30
FINANCIAL. MARKET
Suspense as 10 Tobacco Decision
Restricts TRADING.

The Supreme court decree IN the gov
eminent suit against the American To-
Ilacco Company did not come until after
the close Of business on the stock Ex-
change. but the uncertainty over the
probable character Of the ruling was q
potent influence IN restricting trading 70
small totals I'm al issues throughout the
/ DAY. Notwithstanding the absence Of
| interest In the operation. prices were
consistently strong in the larger number
of shares especially I'm the late after
noon. with the chief advances in Ca
madam Pacific which made new high
record. General Electric. Union Pacific
the Fries and IN the bond department
The American Tobacco is. on the curb
Tobacco common closed at 800, compared
with Saturdays closing of iS4 Buying
/ Ct General Electric Yesterday and IN re-
cent DAYS reflects the general improve
men, i'm the electrical business in this
country and the expectation of marked
Ioxpsnsion m the industry in the autumn
while it is believed that the forward
movement IN the electrical industries
soon will be reflected 10 greater extent
| in the copper market. which already
shows distinctly firmer tendency.
/ Both tn General Electric and the
Westinghouse arc in q position 70 load
up heavily with copper for future re-
ouiremente. and the report that the first
named company soon will issue new
Il. l,i..lli
tho co,nrany intends to take advan-
/ tage Of current low prices for copper 10
! Law i'm a l4rG. supply of the metal The
efficiency of the Erie management con-
! tinues to find reflection in good demand
/ for the Erie shares. which are gaining
| in potentia, strength At rate that must
he extremely gratifying to interests VINO
4 have held them for many years WITHOUT
! any return on the money invested. ERE
first proferreG is a candidate for dlVl-
dend hon,rs The historical narrative
| by Mr.. Gates on the United states Steel
I Corporation before the House investigat-
/ ing committee and the retelling OF in
cidents of he rInic days of lNi were
! rot considered To be OF sufficient I'M
portancc FOR use in the stock market
Steel common. for instance, ruling firm
and endine unchanged from SATURDAY.
+ Money rates ruled at the closing fig
ares Of lasr week. the market being life
less in an departments as far as a Dor
rowing demand was concerned. fur-
/ Their Withdrawals Of gold coin from the
! : lb-Tr,asurv for shipment 10 Montreal
were rerorted. making total for the
month # more than SS.O0O0eo. with in
dicationg of additional shipments in the
current week. as exchange in Canada on
/ New York remained against this centre,
while IN active inquiry for funds was
notice i'm the dominion. Montreal has
10 exchange facilities with London ana
II is drawing on it's credits at the British
capital through the market here. Do
meetic exchange does not reveal an ac-
five demand at Weston or Southern
points for NV York money. indeed, the
present movement Of currency is in favor
eff this centre. although the gain i'm local
bank cash holdings from this source Is
offset bv tn heavy withdraw ais 70 ca
radian account The latter movement is
more welcome than otherwise, owing 10
tho cnnrn.uus reserves Of the Clearing
/ Hodsc institutions. which were reported
AT almost SI4.00G00 m SATURDAYS as
eociated bank statement