New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-09-07
FINANCIAL MARKET
Further Advance in Prices. with
Late Partial Recession.

Stocks opened Yesterday strong and
active, with higher initial prices for most
issues. and during the greater part Of
the session the advance Of the preceding
day was continued. the market receding
in the late trading, when attempts were
made TO take profits. the close, however,
showing net gains for the day through
out the list. some of them being Of sub
stantial size. The subsistence Of the
alarm over the possibility Of war as a
consequence Of the dispute between
France and Germany regarding Morocco
was reflected in an improved tone in the
security markets of London and the
Continent. which naturally had good
influence on the local market. and the
lessened prospect of labor strikes on i'm
uortant Western railway systems was
also a factor contributing 20 tho advance
in stocks. Another encouraging item
was the weekly report Of the Weather
Bureau, which showed that weather con-
ditions during the last week had been
favorable 10 the growth Of corn and
wheat. and also Of cotton. except along
the Atlantic coast Published figures Of
bank clearings for August showed a
considera bic increase over the totals for
the corresponding month Of last year an
indication Of business Improvement. tax
10 ,tv-r- rr-l IlT TIL. Load
ing journals of the iron and steel in
dustry in their weekly summaries II
trade conditions reported duIness in the
market for finished material but with il
the large increase OF 133. 800 tons in pig
iron production IN August. as compared
with July. with a considcra bic reduction
in stocks at furnaces. which might indi-
cate the belief Of manufacturers that de-
mand for their products would quicken
before very long.
Sharp advances we're made in the
common and preferred stocks OF the
Minneapolis & ST. Louis and Iowa Cen
trial roads. on a revival of the report
that these two roads of the Hawley sys-
tenn were 10 he linked up with a Cana
dian railway # the voters Of the Domn-
ion should at the election this month in
dorse the Laurier government and thus
insure the adoption of reciprocity with
the United States; and a semi-official de-
NAL of the rumor caused only a slight re-
cession in prices. The announcement Of
an increase in the Intcrborough Rapid
Transit dividend for the purpose Of en-
abling the PETERBOROUGH Metropolitan
company 10 establish a sinking fund for
it's A.. per cent bonds, against which
most of the rapid transit companys
stock is held as collateral was followed
and il the bonds which had begun 10
develop strength on the preceding day.
but the bonds rallied later. and closed
nearly point up. The commodity mar
kets were firm. wheat advancing about
cent and corn about half d cent. and cot
ton futures making net advances Of from
% 10 points. There was practically no
change in rates for either time or call
money. although the market for time &C
cOmmodation appeared q little more firm,
with holders Of funds indisposed to grant
concessions from their offered figures
Withdrawals OF money for use in the i'm
terror are in large volume, and il is COM
monty expected that money rates will
harden considerably before the fall is
over, although no actual stringency .s
looked for