New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-05-16
FINANCIAL MARKET
Money Rates Easy and Foreign
EXCHANGE Heavy.

stock market prices were firm IN the
hest part of the dsy. without material
changes az the close as compared with
the final figures In Saturdays operations.
Trading was dull and narrow in the fore
noon. with slight increase in activity
after I o'clock. when the street began to
anticipate q further postponement in the
STANDARD Oil and American Tobacco dc
cisions, but total dealings for the DAY
amounted on only 145.460 shares, Of
which the larger part was supplied by
Union Pacific. Reading and United states
Steel PENNSYLVANIA rights were dealt in
10 some extent. In tnc bond depart
ment good buying was reported In va
rious issues, while over the counter
business in mortgage issues continued TO
reflect an excellent absorption on the
rart or investors New York City bonds
showed increased activity i'm tho last
hour. but IN the general bond market
speculative buving was less I'm evidence
than noted I'm last weeks transactions.
Although commission houses had large
audiences throughout the day, there was
nra ctically no business done for public
account. tho increased attendance IN
brokers offices being due 10 curiosity
on the part Of some persons 10 see what
the market would do in the event OF Su-
preme Court decisions IN the trust cases
and = desire on tho part Of others TO bo
on hand 10 take advantage Of any break
that might dey elop IN prices following de-
crees against tho STANDARD oil and Amer
icau Tobacco companies. American To
Lacco shares on the curb showed their in
difference 10 the possibility ri 2 verdict
in favor Of the government by advancing
10 points As no announcement ri I'M
uortsnt decisions came over tho wires
before the closing ~ tho exchange.
creculators left the Street IN the same
doubtful frame OF mind regarding the
immediate future Of tho market exhibited
on every recent Supreme Court meeting
day. but before they arrived AZ their
homes they doubtless read in the late
editions with A sigh Of relief that the
oil and Tobacco cases had at last been
disposed Of by the court. There ought
80 be something in the nature Of &C
tivitv in to-day's market. Doubtless
prices viii decline, but no great dis
turbancs is looked for. as bankers al
ready have made plans to support the
market
Money rates remain AZ an extremely
/ easy level and general conditions gov
crning the loan market do not suggest
Improvement IN quotations in the i'm
mediate future. The larger part OF syn
dlcate and stock market Requirement ts
are being handled by the trust com
ranies. a reflection IF which is found in
| their last weekly statement, showing On
/ EXPANSION IN loans # more than $40
| OpO 0nn against q contraction IF sir r.
! 313. 500 b the Clearing House banks.
and en- expansion in this item since the
cno Of March Of S72 10000. compared
With decline IN bank loans Of SIS 800
coo The reserve Of the associated
hanks IS enormous Such 2 situation IN
the past has always preceded period
II activity in our industries. and there
* no reason 20 suppose that Just as soon
as various uncertainties are cUt 81 the
way the big supplies Of idle money IN
the banks uill not find employment IN
trade and investment channels, as under
living factors in the business situation
are absolutely sound. Seasonable
weather is doing much for retail trade
but commitments for the future are
light, though somewhat better than RS
Gently reported. especially in the steel
industry. which shows e better demand
from consumers than noted in the last
part Of April. The railroads are begin
ming 70 buy rails in larger volume, and
despite the bear reports received in Wall
street regarding new business being re-
ceived by the United States Steel Cor
Doration il IS stated in oficial quarters
that orders now coming 20 hand show
distinct Improvement a large amount
Of business. Of course. has been held up
pending the anti trust decisions. but
with the elimination Of these decisions
as factors in the business world there
! he more ttt