New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-10

FINANCIAL MARKET
Corporation Stocks Unaffected
by Bear Attacks Against Them.

IrdnlnF III yesterday STOCK market
was made up almost entirely Of the
operations Of an unimportant professional
element Price movements showed ir-
regularity throughout the FIVE hours of
larger number Of issues. Canadian Pa
cific. American Can shares and United
States Steel being among the few stocks
that presented changes Of more than u
Of l per cent. Buying of United States
Steel common was based on the idea
that the forthcoming statement of un-
filed tonnage would make better eX-
hibit than recently expected, while in
terest in the American Can issues appar-
emily had its foundation in the theory
that prominent operator identified with
the Western speculative group was &C
cumuating the shares to hold for fut-
ure rise. There was nothing in the
course of the market as a whole that
suggested an active price movement in
either direction In the immediate future,
but in the bond department the demand
for investment account was large enough
TO warrant the impression that capital
is still anxious to move into permanent
investment channels.
The Congressman from Georgia by the
name OF Hardwick who has made up his
mind TO become a trust buster re-
newed his activity in the House yester-
day by making further talk on the
iniouity Of the so-called Sugar Trust
without attracting any selling Of the
stock OF the American Sugar Refining
Company. while the Investigating mania
Of the little men in Congress. who have
not Investigated the concerns they de-
clare must he investigated. failed 10
Representative Herdwick OF Georgia,
ought TO be informed by his friends that
since the time of the organization Of the
American Sugar Refining Company the
sweet product has made progressive i'm
provement toward lower price for the
consumer and that the concern is now
compelled TO contend with the most ag-
gressivo sort of competition. Further
more II might he well for some one to
tell the militant "lawmaker" that the
American sugar Refining Company has
paid its obligations 10 the government
and is no longer under the control OF
persons who AZ one time openly violated
rhe country's Laws. a few OF the old and
many Of the new Democratic members
Of the present Congress have gone mad
on the question of the regulation OF cor
porations They apparently have for
gotten that the Supreme Court OF the
United States is now actively engaged IN
determining the status Of our corporations
under the sherman antitrust law. But,
as frequently pointed out in this column,
the littlo men in Congress must let their
constituents know that they are actively
"on the Job
The Indifference Of the stock market
10 the investigation proceedings in the
House was illustrated in the case or
American Sugar Refining stock yester-
day. which contributed practically moth
ire 10 the dealings The general mar
ket closed as dull and lifeless as II
opened. Traders who showed any in
clination to operate favored the bull side
of speculation. but no efforts were MADE
10 bring about an active upward move
ment. Commission houses had few orders
for public account. Reports from the
farm section Of the country we're encour-
aging. more optimism was expressed IN
iron and steel trade circles over the fut-
urc of the metal trade, and money was
easy and IN abundant supply. From cur
rent Indications rates for loan accommo-
daticu viii rule ~ low levels for weeks
to come. Nevertheless. there are various
signs in the current situation that fore-
shadow d better mercantile inquiry ior
finds at no remote period