New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-21
FINANCIAL MARKET
Speculation in Stocks inactive,
but Good Demand Reported
from Investors.

Activity n yesterdays stock marker
was confined 70 q few shares, the larger
number OF issues presenting an absolute
lack OF animation. Commission houses
were not important factors IN the deal
ines. while the trading element likewise
showed little disposition 10 operate on
either SIDE Of the speculative account
their interest being restricted as rule
10 a few Of the more prominent securi-
ties, including American Telephone and
Telegraph which was sold on the an
rouncement Of an authorization Of new
stock TO The amount Of about 100000
2 mar. or tho basis ~ one share Of new
stock for each five shares Of existing
stock held. There is nothing 10 suggest
that the prosperity Of the company I'D
the future will not be more pronounced
than it has been in the past and as the
proceeds OF the new issue are 70 he ap-
uIia6 TO construction and extension pur-
poses Of the associated Bell system out
side New York. and as the charges or
the new stock on this years revenue will
hardly be appreciate owing TO the heavy
earnings Of the COMPANY tho opportunitv
10 subscribe 70 the Offering doubtless will
meet with ready response from the
stockholders. Price movements In most
rrrts Of the market ended at unimpor-
tant changes as compared with the clos
Ing Of the preceding uay. small net losses
pr4dominating ON the curb Panama IS
ovprshadowe5 everything else DEALINGS
10 the amount Of more than S2oooooo
being reported ou quotations under and
above 102. heavy Gales being made from
1G2 10 1875. presumably for the account
az houses that ~ these figures We're able
20 make a pr0nt ON their alotments.
Tho last sale was az 1027s The new
Chinese bonds. which were ten times
Cvarsubscribad also were active. The
closing on the exchange was Inactive
and heavy. Money rates remained at
MONDAYS easy levels. while sterling Was
somewhat firmer.
The fact that many of our leading
fnanciers and stock market operators
are not I'm this country suggests the lln-
probability Of All active stock market 90
the immediate future. but DC does not
offer any cuCOUIa cement 10 tae theory
held bv some traders that materially
lower prices will be reported before SUBJ
stautial advances VIII be recorded.
Stocks are ir extremely strong hands.
and with al signs pointing to gradual
expansion iu the country industries and
TO q year Of normal harvests, II not bet
ter. il does not appear likely that Inn
uortant liquidation can be brought about
bv profe Sional pressure against stock
market prices The volume of business
in the bond market In recent weeks and
the character of the buying reflects SUI
preue faith Oh the part NJ institutions
and individual e iu American investment
securities and ia American credit but
bears on stocks and bulls ON grain and
cotton apparently believe chat prevailing
cntrr.sin ou the ps-- If capital can be
Unset by well w0rdcd crop scares sent
out Dos so-Calied crop experts in the em-
ri0e of houses that would welcome lower
quotations for stocks and higher prices
for the products ot The farms No one
Looks for ultimate yields of cotton and
Grains equal to estimates based upon
e-rly conditions in the agricultural COM
munitv There could bc q material fall
ing eff m the condition of grain and cot
ton between the present time and the
maturity OF the crops without preventing
the gathering or abundant harvests. The
winter wheat CROP IS made and from all
indications II viii BE- enormous awhile
increased acreage III the spring wheat
end corn belts viii serve ~ Offset 20
great extent adverse conditions Ia some
sections Il is not easy % find anything
in The general outlook that calls for
bt.-il position iu the stock market Quick
turns appear 90 Doe about all operators
for rno decline can successfully effect