New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-09
FINANCIAL MARKET
Stocks Being Bought by Substan-
tiaI investment Interests.

stocks were active in the host Part ot
tho day on movement Of prices that
generally tended in the direction ~
higher levels. weakness developing. how
ever at the close In some issues,
notably the Hill shares. actual buoy
.ancv was reported. Great Northern. for
instance. in the FIRST hour of trading
selling az lao, an advance Of "a. points
as compared with the low figure re-
corded in Wednesdays operations.
There vas nothing in the character Of
the dealings or in the DAYS news from
trade and agricultural centres that
offered real encoura cement 80 tho bears,
while there was every indication in IN"
character Of the huvtrg in various parts
Of the list that stocks were being &c
cunulated nv bull pools and individuals
with the strongest sort of fnsncial back
ing. the transactions for pool account in
Guiding some Of the best Of the industrial
issues. notably American Sugar Rein
ing American Beet Sugar and American
Telephone and Telegraph The last
named security for MANY months has
been taken ny interests who are espe-
ciallv partial 70 industrial investments.
And the same thing may he said Of
American Sugar Refining shares. which
represent compeny that has elimi
mated from its directorate and manage
rnent the men who in wears gone by VIC
lated or countenanced p violation IF the
law.
The American Sugar Refining Com
panv is making money on an honest
basis. and IT'S directors are quite ready
10 reorganize the concern in accordance
with any plan that the government may
suggest if its present organization. like
that Of the standard oil and American
Tobacco companies. should he found 10
be in violation Al the Sherman anti
trust Law The American Sugar Refining
Company. however. is not MONOPOLY.
Indeed " has the fiercest sort of com
petition with which 70 contend and If
may be safely said that at the prese NJ
time its annual production is less than
sugar IN this country. GOV eminent fig
ures showing the condition Of winter and
spring wheat on June ! indicated larger
final harVests than reported in 1910
likewise was encouraging Another in
terestinc report published in the DAY
was that of the Copper Producers AS
socia ton. showing an increase in tota
deliveries in the month veil in excess ~
the gain in production. Bear traders at
| tackled the market in tho last hour or
tho fact that winter wheat exhibited the
usual MAY decline in percentage condi-
ton and on the announcement that ac-
ton on the Denver & Rio Grande pre-
| ferred dividend had been postponed. tho
selling in the larger number ~ active
issues being active enough 10 bring
! about net declines for the day Sub
stantial interests appeared quite willing
it's short contracts
The bear campaign against United
! states steel stocks apparently is being
! led by an individual who for many year,
! has had tho reputation that accompanies
/ close association with bucket shops and
| kindred concerns. Time and again this
| shady character has been involved IN
schemes 10 take the puplics money. but
| fortunately in recent years his opera
tons have not met with success in pro-
| portion to the time and money he has
expended, and in his current Steel trans
| actions. which are based on the idea that
| holders Of the Steel issues Will become
| frightened into liquidation by unauthor-
| lied talk Of government suits under the
| Sherman antitrust law against the
| United states Steel Corporation, his ledg
er accounts must show something Of q
| loss This gentleman" and his follow
ers strut up and down New street witt
| all indications Of opulence as far as then
| personal appearance is concerned hu
! their bank accounts are said 10 he dwin
! ding. United States Steel common re-
| 10, m nf attacks uupI