The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-06-01
The MARKETS
Financial Review.

UNITED Press Leased Wire Service Il
NEW YORK,Ma 31-The throwing
of the Frisco system into the hands
of receivers has turned the entire
stock market situation topsy-turvy.I
The result may be disastrous in sew
eral respects. There is certain to be
la financial war between James Spey- !
er, of the banking house of Speyer
and Company, and Benjamin F. Yoa-
kun, head of the Frisco, which will |
tie up against each other the biggest
men in banking and financial circles
divided into rival camps. Then the
Paris hourse has threatened to bar all
American securities if the interests
| of the French holders of Frisco bonds
are not protected
The charge that politics was in
part behind the Frisco receivership al
J SO will not down. The claim is made
by friends of the present administra-
ticn that an attempt is being made by
/ certain commercial interests to prove
by the receivership that dangerous
condition exists in the money and in
vestment markets in order to in.
4 fluence the shaping of the proposed
currency legislation.
The present situation, so far as
/ Wall street is concerned, is peculiar.
| The market continues entirely pro-
Ifessional Sales are few and slow. In
many respects the exchange these
days resembles a big club, the brok
ers spending more time visiting each
iother than trading on the floor. The
three holidays may stimulate bust
mess somewhat on Monday, but it is
mot expected by even the most radical
bulls that there will be any settled
Improvement for considerable time to
come.
!. General trade is very dull just now.
There is very little doing in textiles;
i steel has appreciably slackened; iron
i prices are down, yet there is no APP
parent reason to believe that there
lis anything more than usual tween
| season dullness,'' and that general
business will soon find itself again. In
fact, it is generally accepted that SO
soon as the tariff bill is out of the
way and an official statement forth
coming from the administration of
the scope of the currency legislation,
business will pick up all along the
/ lime with consequent material benefit
/ 10 the general security market.
Grain Review
{ United Press Leased Wire Service. ]
CHICAGO, May, 31-News of hot,
!, dry weather that was damaging the
crop in Kansas and Oklahoma featured
!, the wheat market of the week. Re
I ports of this crop damage came late
: in the week and started a rally after
I an easier feeling early in the week.
The net result was that May closed
q the week at 80 cents, the same figure
Iquoted one week ago, and July at
92Ac, a gain for the week of &c.
j.. A furry among the shorts, who had
been nervous over the corn prospects
d all week. occurred just before the SEES
t sion closed today, and caused a change
II In corn prices, sending May corn up
L one cent over the closing price last
d week. Before this buying pressure
Q was exerted, May was at SIS cents, last
e weeks closing price. July closed al
n 571sc, loss of Ac for the week.
r Adverse crop news early in the week
o Ibulled the oats market, and the early
d strength was retained all week. May
it closed today at 43 cents, an advance
y for the week of az cents. July CLOSED
/ at 3ec, &c gain.
h Ali provisions made gains during the