New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-07-25
FINANCIAL MARKET
Shipments of Money from New
York to the Interior Ex-
pected to Increase.


Of important animation In the 1--WE
hours Of trading, transactions being con-
fined TO small totals and price changes
as a rule to insignificant fractions, with
more net losses than gains at the close
among the prominent issues. The stocks
Of railroads that should be favorably
affected by reciprocity between this
country and Canada failed to respond
to the final passage of the reciprocity
bill, while little interest was taken In
the shares of roads that run through
sections OF the country where crop con-
ditions showed improvement. The Street,
however, showed considerable optimism
in its sentiment regarding the future,
and opinion In commission houses ia
vored the theory that with the forth
coming adjournment Of Congress and
the completion of the arduous efforts OF
self-inspired Congressman to find out
factors already known by the general
public in connection with the past and
present of our corporations decided I'M
provement would develop in stocks, both
ae to the volume Of business and the
course Of prices.
Congress committees have unearthed
no conditions in their investigation OF
the United States Steel Corporation and
the American Sugar Refining Company
the part Of the holders Of the companies
securities There has been no invest
ment selling either in steel or sugar
shares in many weeks and there is not
| likely to be in the weeks 10 come. 1t
| Is worth noting that prices for refined
sugar are exceedingly strong, and that
! the advance since the beginning OF the
raw sugar season is estimated TO be
! equivalent to an increase in profits by
| the American Sugar Refining Company
equal to almost per cent on the com
mon stock modest degree OF activity
was reported in some Of the specialtes
! in the afternoon, and conspicuous
strength was shown by Bethlehem Steel,
on buying based upon the improvement
in the iron and steel trade. The market
sold off in the final dealings without an
increase in the volume Of trading, Union
! Pacific Southern Pacific. the Hill shares'
ST. Paul and Amalgamated Copper SHOW
ing the chief weakness.
On their opera tons with the Sub
Treasury the local banks have gained
upward Of 50 100000 since the close of
business last Friday. but they have lost
q considerable amount TO the interior
owing 10 the transfer yesterday OF So
600 600 70 Chicago. The latter trans
action was not incident TO the develop
ment Of a demand for funds In connec-
ton with crop requirements. but to re
ouirements in connection with the Chic
ago Elevated Railway merger which is
being financed al this centre. Neverthe
less. II is not unlikely that from now
shipments Of money from New York
to out of town points will grow In vol
une. as the period Of the year Is ap-
n,oaching when interior institutions are
compelled 10 call upon their New York
correspondents for cash for crop NOV
ing purposes. reflection ~ which is
shown in the movement OF funds In re
cent DAYS more In favor Of the West
than the East Bank statement figures
present no reason for the expectation ~
disturbance I'm the money market. but
II is quite evident that general demands
upon this point I'm the course of the next
three months viii bring about decided
" flrmer tendency I'm loan quotations
Fortunately. as frequently pointed out
in this column, the country's position IN
the international money market Is ex-
tremely strong, and In the probable
event Of declining bank reserves here
New York will he able 10 import gold
from Europe.
The governments report Of the foreign
trade OF the United States in the last
fiscal year shows increased exports to
every country, and decreased imports
from every country with the exception
OF Asia Africa and the countries In
Guided in Oceania. Exports Of merchan-
disc from this country to Europe
amounted in value TO S1,30S. pitts,
compared with 81. 135,9l4551 in the pre-
ceding year, while our growing trade
with Canada is shown in an increase In
exports from S216OOO,Oo0 to $27O,O0O.O0O,
and gain in imports from S95,COO,oOO
to SI01. 100000.