New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-04-27
FINANCIAL MARKET
Decided Improvement Reported
in the Demand for Bonds.


Opening prices In yesterdays stock
market showed small losses as compared
with the final figures of the preceding
dav. but the declines failed to bring
about an active selling movement in any
part Of the list. The professional ele-
ment was especially bearish on Cnlteu
States Steel common. which, neVertne-
less closed at q net gain. while among
the prominent issues last quotations as
rule presented advances as conse-
ouence Of a covering movement baseo on
huving on weak spots by substantial
Wall street interests and on a broaden
ing inquiry for bonds. dealings in mort
gage issues rejecting a material increase
in the investment and speculative oe'
mand. Lake Shore As Third Avenue 4s'
the Wabash refunding As and New YORK
Cqtv 4i6s were noteworthy features IN
the bond department. Bond houses are
optimistic over the outlook FOR an eA'
handing business In high grade issues
and they do not hesitate to express Tie
on,nion that In the near future Invest
nent buving will reach large proper
,,ors with an especially good demand for
the new securities that banking houses
nropose TO bring out at no distant date.
In view of the large supplies OF idle
money at all financial centres IT is quite
likely that liquid capital viii ma an
outlet IN the bond market. and III eN-
mediation Of such development many
careful Wall Street operators are invest
ING their funds in mortgage issues 'hd'
orn likely TO benefit in price from
movement Of this sort. The general bond
,,,.ri,et offers many attractive oppor
.,nitfes for the safe investment OF cap'-
tal And the same thing may DE sai'
70 the stock market. From an lhN'"'
mont noint Of view high grade shares a''
not dear at prevailing quotations. in'
,,arAraI market for stocks was duii VI
.,,o of,ernoon. but prices as rule mann
tanned the advances recoroeo u" '"o
,,,orn,re marlborough Metropoiltai'
rreferred was strong on the iuea ''iD
The contract for the proposed ne" sun
-. -,,o,,,6 N, secured by local taction
..or.s+s in splte of the attractive oHe'
made bv the Brooklyn RAPID lrahsi'
uoor,a while fair speculative buying
rerorted in Atchison following 'he
.,,,,oo+ion NJ the company's staterneh'
-. ,,orch showing gain both in gross
= 40, returns. as compared V'th ''ie
same month last year me n'ohe' ''i
ket was without feature
While the report of the Uni'eo "a,
c.ee, CORPORATION for the hrst qua 'ei 20
-. current year shows material iah-
off in earnings as compared Win '''o
nrecedlng quarter and the same pe''ou "a
to,o II is worth noting that III III
.hr.a months progressive improvement
t.s bAen made in net earnings, IN" Jdn-
rsturns amounting 70 SoooS'4io'
rompared with S7,1so92s in FEBRUARY
I'D $40 46s $50 in March. The March
earnings showed a gain Of approximate!
ca o.r rem, over those recorded IN inc
&C., Month Of the year. This exhloil
nresents no reason for uneaslness on 'ie
mart Of holders of the corporation
securities Indeed. in vie" Of the az
-. fror, the steel market Of the rail-
roads the showing is remarkably good.
IT, the current quarter the concern VIII
he,-a ,he benefit Of the opening OF trans
rortation on the Great Lakes, when VIII
contribute materially 10 the earnings
while II also should profit from IN IN
creased demand from the railroads.
which soon must come into the market
for steel if they wish 10 MAINTAIN theT
physical efficiency.
On the basis Of March earnings the
Tinted states Steel Corporation Is in
r,osition TO maintain dividends or the
common stock at the present annual rate
Of ) per cent, with large balance after
such payments for profit and loss ac-
count. March earnings were AZ the rate
Of S126. 100000 net a year, an amount
heavily in excess Of dividend require
rnents. In well Informed trade centres
~ is believed that conditions In the
metal trade are turning in favor Of the
holders OF metal stocks, although a
large forward movement is not looked
for until various uncertainties in the
general situation have been eliminated.
copper is in better demand than re-
Gently reported. The export inquiry is
improving, and local consumers appar-
emily believe that they will not be able
prevailing.