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Show Financial Currents of the Week MONDAY Week opens with strong indications in-dications of an organized and comprehensive compre-hensive effort of large interests to uphold up-hold prices, in spile of numerous adverse Influences. Plans for gigantic flotations of bonds by the big financiers are supposed sup-posed to be tho prime cause for the support sup-port afforded the leading securities. TUESDAY The dullness which overcame over-came the stock market after the lively dealings of tho morning was due to discouragement dis-couragement o-cr the obstacles to tho efforts mado to continue thc advance In price-. Free selling to realize profits was thc most material hindrance. The benevolent control of the market was by no means abandoned, as seen in the late revival of Unlled States Steel and the absorbent, power In face of the Inrge selling to realize had an cncouniKlng effect ef-fect on speculative sentiment. Tho determination de-termination of the New York City financial finan-cial authorities to fix tho coming 340.-000.000 340.-000.000 Issue of corporate stock at t per cent did not have a harmful effect, ar. It was accepted as a. settlement of a vexed problem and as an Insurance of the success of thc offering by agreement with the bankers. Donds were Irregular. WEDNESDAY The semblance at limes of great strength and animation In thc Btoc.l: market was not borne out by nnnlvsis of the movement which resulted re-sulted in net declines for .the day. Speculative Specu-lative anillmcnl, ne erthelcss, wa3 cheerful and confidence in values was well maintained, which doubtless fulfilled the purposes of the supporter?. Operations Opera-tions centered markedly In a few slocks, of which t.'nion .Paoiilc, New York Central Cen-tral and Unllnd ' Stales Steel were, conspicuous. con-spicuous. Tho raising of the dividend rates on New York Central lo 6 per cent w;m In accordance with expectations formed by tho previous Ilboral disbursements disburse-ments by subsidiary companies. Including Includ-ing the recent 6 per cent extra dividend on Lake Shore stock- Thc quick sale made of bonds of a minor road In the subsidiary Lake Shore system was an Incident, of the day's rise In New York Central Tho wider advance In Union Pacific was a direct outgrowth or thc New York Central dividend action. THURSDAY Thc action of I he stock market threw no clear light on financial, commercial or industrial conditions. There was some rather striking selling In continuance of the free prolU-laking movement of thc latter part of yesterday. yester-day. London Joined In the selling In agreement with its attitude for several days past, but reversed Its position in tho course of tho day. The view of tho labor la-bor situation In Philadelphia, which was believed to have Influenced tho soiling of Wednesday, was modified to a more hopeful feeling for thc restriction or the area of the. trouble and for Its early Hdlleniont Tho advance In thu dividend rale on New Yotk Central was a remain- j Ing Influence In the day's dealings lu ihe way of having received credence' for suggestions of coming Increases In other dividend rates. Not only the Vanderbilt group and In other trunk lino railroads, but in some of thc western railroads, was the influence effective. Flattering reports re-ports of " the heavy freight car requirements require-ments of the New York Central were put out In aid of thc sentiment toward the stuck. FRIDAY A certain amount of speculative specu-lative disquiet was reflected In the stock market, and the. vigorous supporting measures from lime to time were uol sufficient lo overcome tho effects. Weakness Weak-ness became acute In Ihe final hour. The amount of Important financing which remains re-mains to be done Ihe hardening effect already produced on the money market, and the doubtful absorptive power of the Investment demand for bond Issues combined com-bined to form a situation which la not viewed with entire satihfaction by the financial world. Thc announcement that th St. Louis & Pan Fronclsco had resorted re-sorted lo an Issue of notes I'j a development develop-ment In the money market. SATURDAY Shorts continue selling, but 1 hero Is no active demand. Settle-men Settle-men l Of r.S. & O. labor troubles and strong Bhowlug of New York Central in aunuul report Is sustaining Influence. Hardening Harden-ing tendoncy of money market tends to sustain speculation. Bonds aro stead , but only falrl acth t |
