Bisbee daily review., 1911-03-02
Mining, Stock Reports, Financial.


 whole has suffered diminished say
 ings owing to the reaction in busi ness. although this may have been
 partly offset by the more economical spirit which has recently developed and bv the fact that not a few div | idends have been increased as result of previous prosperity. There | has been further profit taking dur | ing the week because of the loss or bullish sentiment and because the absorbing qualities of the market have been pretty severely tested oy Inc numerous new issues since Jan nary 1. and the fact that still tur- ther important issues will be put e,t as soon as conditions favor. Had | ii not been for the freedom with which foreign markets took these offerines the latter would have been mueb less successful and our local market would undoubtedly have been
 congested by the pressure or new oTerings. It must ye considered eA- contionallv good fortune that Europe hae taken these issues so readily at time of reactionary influences in inc United States It has been
 oosf practicaI expression of conn
 .,snro in the future of business con ditions in this country and even
 should it not immediately prove Inc basis of fresh forward move ,,o,t must certainly act as a bul- r,ark against further depression. our
 ,.,-.i,,ass sitration is not entirely
 ..atisfactorv. Trade as a rule ls. elac}, and still below the normal coalitions however. are sound anu inc situation favors response 10 any | real changes for the better. some time seo our Eastern bankers under l took to check excessive speculation iu securities and commodities west or, bankers at the same time under l toolr to restrain the threatening out | break in land speculation which be- | yan in the West several years ago. ! The Eastern liquidation in securities and commodities we have alreaay had with beneficial results Seeuri | ties are on a sounder basis than TOT two or three years. past; so, too are commodities which are declining | thus reducing the cost of living and permitting our foreign trade to re turn to normal and healthy condi- tions. From the West it is now learned that transactions in Ian, | have been greatly curtailed, fully | to the extent of 25 per cent to 30 | per cent and leading bankers in that | section now anticipate no serious disturbance to credit Farm loan i are still said to be much out of . proportion to commercial loans, but 1 the weak Spots are scattered and , do not cause any particular anxiety | among those best able to judge. On i all sides of the financial. industrial ! and commercial worlds there has been the process of readjustmenr, lasting for almost year. which has placed the country's business upon basis ready to respond to any real ly favorable influences when the time arrives. It is doubtful, how ever. if the time has arrived for a i fresh forward movement just a present Money is still easy, but is likely to show some frmness and slightly higher rates between now and the first of April The period :s also now approaching when the crop situation will become a more important element. So far the out look is satisfactory. the grain dis tricts having had an abundance of moisture and snow. If any source of uncertainty exists anywhere it is :n relation as to what may happen in Washington. We are still obliged to await the decisions of the Su- preme Court and there are possibil- ities of agitation connected with the reciprocity movement which can not be ignored until that question is settled.
 The break in the market due to the Commerce decision has brought in a new buying element. the import anee of which cannot yet be known, and also eliminated a number of weak accounts. Aside from this in fuence the technical situation i generally sound and favorable. This, however, is not a favorable time for conducting a bull movement Many important operators are going away to a more congenial climate { than we usually have in March and 1 money rates are quite likely 10 be- l come somewhat firm with the ap- proach of preparations for the April settlements After that period wei may see a more active market, es- pecially when the winter vacations are over and the sap begins to rise. Meanwhile speculative purchase gre likely to prove the most profit able in making quick turns. In the investment field. however, there are stil lsome attractive opportunitiesI left. but discrimination is required in such operations.
 HENRY CLEWS.
 SOUTHERN LEAGUE