New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-02-09
FINANCIAL MARKET
Substantial Interests Support
Stocks on Appearance of
Selma Pressure.

TRANSACTIONS IN yesterday StooN "i'''
ket were relatively light in volume on
increment of prices that showed great
irregularity. with net losses in the larger
number of prominent issues. In the best
mart OF the five hours Of trading the
tendency was in the direction of lower
levels. although maximum declines as
r,Ile were confined to small figures' ana
in the case of some stocks recoNerles
were made before the close, while the
General average a. he end OF business
was above the lowest. important losses
being shown by only few issues.
Amalgstmated Copper, Reading ana
Union Pacific closed | point down. as
compared with the final figures OF the
preceding day. st. Paul. Southern Pa
cifc and Lehigh Valley lost seven
eighths and United States steel tive-
eighths the declines in these shares, as
well as elsewhere in the list, represent
ing little beyond realizing and traders
PRESSURE. The larger interests were not
active in the dealings. as far as working
for higher prices was concerned but
they rendered support at various times
and appeared quite willing 10 take
stocks on all concessions.
Activity did not increase on the de-
cline. Indeed. the market showed dis
: nosition 10 become dull on the appear
ance of bear pressure. The recent ad-
vsnces in prices naturally attracted .
large amount OF liquidation. but the
! chsractar of that selling did not sug'
cest the development of long period OF
| declining quotations in the near future.
| 4 hear, market at this time would seri-
ously interfere with the plans OF the
I leading Wall street bankers IN connec-
/ ton with the financing of the require
nents of our big railroad and indus
/ trial corporations. There was no mate
/ rial change in money rates yesterday,
nor we're there important fluctuations in
sterling exchange. The banks are not
gaining much At the moment on their
! orssratious with the Sub-Treasury, but
ree,.ints from the interior continue large
| in volume.
/ The Copper Producers Association fig
ures published yesterday show q graft
| fying decrease in production IN the
month of January. as compared with the
| output in December, notwithstanding
the addition TO the production Of the
/ Tacoma refinery Of the American Smelt-
ing and Refining Company. which be
gan operations in January 10 take care
OF its increasing business coming from
Alaska and other Pacific Coast points
The United States stocks show an in
crease of 20 4O9,29j pounds for the last
month. compared with December. This
* the first increase shown since July
1910. each of the intervening months
having shown decrease. The world $
stock for the month of January. com
pared with December. shows an increase
Of 1899 O55 pounds. The European
CONSUMPTION OF copper continues on a
large scale. and the outlook for business
there Is reported from ali sides 10 be
all that could be desired. Business IN
this country for December and January
as shown by the producers figures. has
been unsatisfactory, but the outlook now
is decidedly encouraging, and buying
movement for copper for delivery and
consumption this spring should soon set
in. The producers recently have sold
heavily, and IN all probability there vii
he no concessions obtainable from the
present price of 12z cents
The metal markets In general are
hooked for improvement. New orders
for finished steel materials. according
70 advices received from steel trade
circles yesterday, are now heavier In
volume than reported at any time in the
last three months. Manufacturers ap-
near 10 be confident that large contracts
will be placed in the course Of the next
few weeks, while they also are confident
that prices will not have 90 be reduced
in order TO stimulate buying move
ment. The advance week or more age
IN wire quotations and the recent mark.
ing I'D Of tin plate do not suggest the
nrobs bility Of lower figures in the gen
eral metal market