New-York tribune., 1911-03-22
BANK STOCKS ON STOCK EXCHANGE.
FINANCIAL MARKET
Interior Exchange Rates Moving
in Favor of New York.

rhe stock market WAS an unimportan'
affair throughout tho five hours Of trad
ing. Transactions were made up en-
tirelv OF the operations Of small pro
-essional element. which showed no dis
nosition to make extended commitments
on either side ~ the account although
y talked as II il were quit" convinced
that the general tendency soon would de-
velop in the direction Of lower quota
tions its conviction being especially
s,rone IN the last half hour. when re
aCtionarv movement was reported. IN
Tho early trading the general list was
firm. At the close the leading active IS
sues showed losses Of from one-eighth 10
dvc-e,chthe as compared with the final
figures Of the preceding DAY. An advan-
tace might accrue 70 traders who are
hcarishly inclined = the market Should
ho left 70 their tender mercics by the
substantial banking interests, but the
latter continue to exercise Il strong CON
troll over the movement of prices and
exhibit no intention of helping along
hear campaisn. There Is nothing upon
which 70 base bear operations. Iocnn'-
cal market conditions. money market
conditions and conditions governing me
countrv's industries arc not in favor ~
lower quotations.
A. the n1orNen' little ACTIVITY is re
rorted N the wholly investment depart
: nd a.
ing for short term notes In view ~ the
difficulty the financial institutions eX-
rcrierco i'm placing their none at
nro6,able rates IN time loans, Il Is not
s,.rnris,rs that .hev are showing vo-
racious appetite FOR short time opnsa- =
,ione that return from : 70 IA per cent
Tho only interesting movement IN fn"
Wall street markets yesterday was sup
rl,od nv Standard oil stock on the curb.
where an advance ~ 30 points was re
corded for the issue. making 2 gam W
,ess than week in the market value ot
.ro security Of more than S."'s"'''"'
and cer,ain people are uneasy because
,he.- believe the SUprem" Court VIII o"-
eide the S'an1aIn WI N'i''"'' -
combination in restraint OF trace. Ma'N
roorle believe that this will he the out
come Of the litigation, but they ais" no
,,ove that bull market viii develop
r.;.h .ho announcement of tho decisions
IN the corporation cases. irrespective u
The character Of tho ruling Of the court
Local hanks continue 20 lose cash on
their operatiors with the Suh-1reasurF'
h,,, exchange rates AT other cities on
New, York do not indicate much of an ~
terror demand for funds Al th's cen
ire. Exchange at Chicago has riSel -
10 cents premium. against material
discount two weeks ago. and for the mo
mon, tho inquiry for money incident to
,ho requirements Of the agricultural sec
,ions Of the country is not heavy enough
~ compel out-of-town institutions 70
call unon their Eastern balances al
,hough il should not he assumed that
The spring How Of currency from New
York has run its course. Money IS oH-
,renolv easy. and while the financing or
tho April interest and dividend dls-
hureements may be reflected IN shght-
~ firmor tone in the local loan harkc'
there appears to be little chance OF any
Thing in the nature Of rnaterleI ao-
vance in rates for a long time 10 come
nor is there any indication that New
York will reduce its accumulating credl's
abroad in the immediate future our
oynor, trade continues 20 broaden. snip
ments Of merchandise from this port ior
the week ended yesterday amounting IN
value 20 81 .sO4 30. which is an increase
Of S2.S9i61G over the preceding week
and AN increase Of 81 l4oVlJ as COM
rarcd with tho corresponding time
wear ago. Furthermore. imports show
,alling of from the heavy totals at this