New-York tribune., 1911-10-06
BANK STOCKS ON STOCK EXCHANGE
FINANCIAL MARKET
Money Rates Continue Easy, with
No Indication of Change in
Immediate Future.

Stock market trading was light IN VOL
unoe throughout the day on a movement
Of prices that showed great Irregular
ity with final figures, however, at net
gains in the larger number OF issues.
Professional selling pressure In the early
operations was effective IN carrying quo
+st,ons under tho closing Of the preced-
ing day, but the decline failed to bring
out stock, and traders exhibited nttle
disposition to extend themselves on the
short side. notwithstanding the fact that
commission houses were unable 70 report
buying orders for public account while
substantial market interests made no ef-
forts TO bring about higher prices me
decline IN the morning was followed Dy
q f,rrner tendency IN the afternoon, es-
necially in Atchison, st. Paul, Union Pc
cifc. Reading, Amalgamated Copper end
United States Steel, the last named being
one Of the weakest features In the early
dealings. The United States Steel Cor
noration IS not expected TO make IA
vorable showing in the last quarter OF
1911. but the lowest estimates OF net
earnings in that time indicate that the
company Will end the year with com
Portable surplus after common stock
dividends. While the steel trade Is not
active and at current prices for finished
materials the margin Of profit Is small
steel men are not half as pessimistic
over the future OF the iron and steel
industry as the speculator IN stocks
who is anxious TO pick up the steel Sc
c1lrities at cheaper quotations. ne
Iron Age" says that the volume Of de-
mend for finished steel products has held
I'M better than generally credited. The
General market closed strong, but quiet
transactions In the late afternoon
amounting 10 extremely small totals
while the entire days business reached
on1v 4Os177 shares, Of which the larger
mart was supplied by United States Steel
Union Pacific. Reading, Amalgamated
Conner. American Smelling and St Paul
London prices were lower and no dis
turbance attended the Paris settlement.
The local money market is Inactive
md easy. with no indication In condi-
tions governing the course OF money OF
q material change in the immediate
future. The interior demand for cur
rencv at this centre IS somewhat better
than recently reported, and in the last
few davs the Sub Treasury has trans
ferred 100000 to New Orleans and
5000 600 TO san Francisco. while do
rnestic exchange appears to be NOV
ing against this centre, but the act
nal inquiry for funds, both for out-of-
town account incident TO the inanc-
ing Of the crops and the home demand
for mercantile and stock market re-
ouirenents. IS still too light TO suggest
the development Of a good price for ac-
commodation in the course Of the next
two weeks. The amount Of money IN the
country continues to increase, a refec-
tion OF which is found IN the monthly
statement of money IN circulation, show
ing in September a gain Of Sl9.269Oll
over the preceding month, making a
total increase In the last twelve months
Of more than S77OOO,OO0. The Bank Of
England's weekly return makes weak
or exhibit than recently reported, re-
serve IN the last six days having de-
creased upward OF $4,000 600 and bull
ion upward Of S12, 100000. The inst-
tution's proportion Of reserve 20 liabil-
fly. however. IS in excess Of the ten year
average for this period OF the year.. but
IL IS not unlikely that with the contlnu-
ance OF the active demand for gold from
the Continent. Egypt and South Amer
lea q sitter money market will develop
-. H. Iyratlnh Genital