New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-03-29
FINANCIAL MARKET
Efforts to Create Bull Movement
in Stocks Fail to Attract
Outside Buying.

Stock market prices were strong In tho
larger part Of the day, without the ac-
commitment Of important expansion IN
the volume Of business in any part OF
the list. Dealings. however, showed
substantial increase as compared WITH
tbo light transactions Of the preceding
dav. hut this improvement apparently
was a logical rebound from the extreme
dulness in Mondays operations rather
than the beginning Of material increase
in Stock Exchange trading. The profess
sional element worked for higher prices
on tho theory that when quotations re-
fuse 10 do down they must go up and
the fact that there was a fair sized short
interest in the market naturally served
70 strengthen the position OF the bulls,
especially in Union Pacific Canadian
Pacific. Lehigh Valley and Reading.
Canadian Pacific closed at net gain OF
more than . points. while Union Pacific
ended more than point above the clos
ing Of the preceding day. the advance In
the Hartman stock being brought about
ia inc IdF' VI lll' pi'llN d'''' ~ ~
nanv's earnings for February showing q
loss in gross receipts Of SG"T'2, and a
less in net Of S144. $50. In addition 10 the
bad exhibit made by the Union Pacihc
there was a falling off in Southern Pa o.
cinc's earnings for tho same month or
S494 $50 in GROSS and S4lJ,4I9 in net
The advance in Union Pacific was helped
nv London buying Of the issue, bat the
IMPRESSION was quite general that the
/ foreign interest in the stock really rep
resented orders from this side for effect
upon the market as whole. Stocks
arc more susceptible TO bull rumors than
~ bear reports. but there is no indica-
ton. however. that big bull market
will develop in the immediate future.
Money rates showed no change yester-
dav from the low quotations that nave
been reported in the last few weeks. ex-
cent those for commercial paper. which
ovhibited an easier tendency owing Il
the entrance Of the Wall street banks
into this department Of the market. Inc
banks which as q rule depend upon the
J stock Exchange IS the chief market i"'
,hoir day-to-day funds arc now quite
willing to place their money in any di-
rcction as long as the collateral oherc'
is sound. and from the current course o.
tho stock market it is safe 10 assume
that these banks will have to seek ON
plovrnent for their funds in OUTSIDE
sources for some time 10 come. Specu
1ation I'm stocks is practically dead. Th'
increase i'm dealings Yesterday over TN
low record transactions OF tho day be
fore vas not impressive. There va
nothing in The character Of the opera
lions that suggested immediate impor
tant expansion i'm business on the Stoc'
Exchange. although some Of the bu!in
came from tho best quarters Of tn
stree, II is 1uito probable. however
thar stocks are being accumulated b
strong interests on an available oppor
tunitios. while IL IS a safe guess tha
with tho elimination Of various uncc'
taiu,ics in the current situation an actiV
buu movement will develop. Bonds al
relatively more active than stock'
Bankers experience no difficulty IN find
ing good market Tor new issues espc
.G.uv for short term notes. and In vic'
or conditions in the money market
Gradual appreciation In bond value
should re recorded. High grade bond
as 2 rule offer better returns than TN
savings banks.