New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-09
FINANCIAL MARKET
Money Is Still Moving Into Bonds
and Short Term Notes.

The general stock market was irregu-
lar and dull in the five hours Of trading.
Opening prices. as a rule, showed small
losses from Saturdays closing. and while
offerings We're we'll taken on the decline
no efforts were made by the prominent
Wall Street interests to bring about
higher level Of quotations. Commission
houses practically were without orders
from the public on either side Of the
speculative account. although the char
acter OF inquiries received by brokers In
response TO weekend advices on the
probable course Of stocks In the weeks
10 come suggested the probability Of an
outside buying movement later in the
season. The expectation OF favorable
government report on crop conditions
was responsible for covering Of shorts In
the early afternoon, but the movement
large enough to leave final figures among
the prominent issues above the high
points recorded on Saturday. Crop con-
ditions as shown by the returns to the
governn ent promise q large harvest. and
the favorable exhibit OF winter wheat
PERCENTAGES, together with the outlook
for large increase IN tho spring wheat
acreage. ought to be something Of fac
tor In to-day's speculative markets. The
Department OF Agriculture reports win
ter wheat In better shape than noted at
this time in 1910 and 1909 and marked
Foi1
planted rye In addition 20 the crop re-
port Wall Street now has the monthly
report Of the Copper Producers Associa-
ton for market purposes. but the rela-
lively eatisfa Glory showing GO far has
failed 10 1nd rejection in speculative
movements IN the metal issues or In any
rart Of the list Amalgamated Copper
closed frac,ionally lower Yesterday. like
wise United States steel. Atchison and
American Can were strong features
throughout the day. Atchison was
helped by the announcement Of the prac-
teal completion Of the negotiations for
the listing Of tho stock on the Paris
Bourse.
The position of the stock market does
not suggest important movements In the
current week. but If Supreme Court de-
cisions come next Monday in the Ameri-
can Tobacco and Standard oil suits some
thing in the nature Of activity doubtless
will develop. Substantial interests appear
quite willing 10 buy all the stocks the
bears care 10 offer although they are
doing nothing D. incite an active bull
speculation az they believe that pending
the elimination Of the various uncertain
ties I'm the situation the public will take
no part in speculative operations. The
best featuro in the general market Is the
WILLINGNESS Of capital 10 move into bonds
End short term notes and the confidence
exhibited Fl Investment circles over the
probability OF q big forward movement
in Our industries ~ no remote period.
Aprar.ntly liquidation in oil lines 's
thing Of Tho past. The supply Of money
m the countrv Is enormous and present
movements IN the bond market prove
that capital rs anxious 70 find employ
ment Bank statement figures Of the last
week SHOW sn abnormal reserve above
legal requirements for this period Of the
year. bat it IS interesting to note that
whereas currencv continues 10 come to
this centre receipts arc less than those
recently reported while shipments from
here reflect an expanding tendency, the
two movements naturally suggesting
growing mercantile demand for accom-
rodation throughout the country. The
federal TreasurYs working balance Is
nov. ioss than S240O0OO0 and IT there
fore appears quite probable that an Of
foring Of Panama bonds soor will be an
nounced. 30 diHicultv viii bc expert
erced by tho government in finding bid
ders for It's issues, while II is not likely
the transaction viii exert much Of an in
tueDcc on the money market