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Show 1 1 J-lililjS THE Business in Wall Street Continues Con-tinues Stagnant, the Same as Last Week. COMMODITY PRICKS , STEADILY DECLINING Difference oi' Opinion as to the Future of Stock Market; Unfavorable Influences. By Leased Wire to The Tribune. NEW YORK. May IS. Whatever may be the prospects of the stock market, and on this subject opinion is somewhat divided, di-vided, the immediate situation is one' of such dullness and apathy that. It would be ludicrous if It were not so sad for the men In the street themselves. Business Busi-ness for the week has been on the same dead level of stagnation as has existed for so long that brokers can hardly remember re-member when limes were good and money flush. Tho Bradstrcet Index Number of average American commodity prices as of May 1. published today, showed the fourth consecutive monthly decline of the present year, fixing a lovel S per cent under last May and the lowest of any month since July, 1909. This contrasts con-trasts oddly with the Economist's Index Number of the English average, which last week showed the third progressive monthly advance of 1911. a rise of nearly 6 per cent, as compared with a year ago, and the highest actual figure sinco the middle of 1907. It must be remembered, remem-bered, however, that the trend of prices on the two commercial markets was equally inconsistent during our recent period of price inflation England's average aver-age then declining while our own moved up. Opinions Differ Widely. In its present rather Interesting division divi-sion or opinion, the business community may be classified Into optimists who see a decided turn for the better somo months off. in response to important underlying Influences, and pessimists who see both in surface phenomena and in fundamental funda-mental influences little to mitigate discouragement. dis-couragement. The prudent man will approach ap-proach both positions thoughtfully and respectfully. It Is possible that one or the other will turn out to be entirely wrong, but It Is also possible that each may have grasped some fundamental truth, and that tho outcome may be midway mid-way between the two predictions. The brightest harvest prospects recorded re-corded thus far this season and, for that matter, in any previous season or years, were logically regarded in financial circles cir-cles as a highly encouraging feature of tho situation Ordinarily under such a condition at this particular time, when crops arc generally the paramount factor In trade and speculation, the stock market mar-ket w.ould have responded with activity and improvement, but nothing of the kind took place, for the reason that harvest har-vest prospects were weighted with a number of unfavorable Influences, somo of which wore unexpected. Prominent among these were the reduction re-duction in the Boston Sz Maine dividend from a 6 to 4 per cent basis and that of the Vandnlia from a o to a 4 per cent, both of which had. without difficulty, maintained their rates after tho panic of 1907. This opened up tho possibility of reductions by other companies after a considerable period of regular payments, where lessened declarations had been expected ex-pected because of the contracted gross earnings and increased operating expenses. ex-penses. Adverse Influences. Then there were the resumption of tho sanguinary conflict in Mexico, whereas only last week peace was expected In consequence of the armistice agreed tirpon. unfavorable railroad statements, amount to a decrease of 9 per cent gross the last week of April and decreased general trade and a loss in the April unfilled tonnage of the "United States Steel corporation of 228,-500 tons. Added to this list was the adoption by tho Democratic caucus of resolutions in favor of free wool, later modified, and the investigation in-vestigation of the American Sugar Refining Re-fining company and the near approach of another decision day in the supremo court. The effect of all those Influences upon tho stock market however, was moro In the shape of decreased trading than In the matter of price movements. This was shown In a fall in the average dally transactions to 187,000 shares from 400,000 lasl week and 600,009 last year. The decline In tho general run of stocks was extremely moderate in the earllor days of the woek, and when the markt swung back later on It quickly returned to tho average of a week ago. with some leading properties even higher than then. Investment business again this week made a far better showing than speculation, specu-lation, as bonds were not only firm but there was an excollont distribution to Investors and institutions, such as savings sav-ings banks and life Insurance companlea. Transactions on the stock exchango made un approximation to last week's total and on the outside thero has boon a good demand. It Is confidently expected ex-pected thaL new issues noon to be brought forward will meet active participation by the public generally. LIVESTOCK QUOTATIONS. Omaha, By AsE-ocIated. Press. OMAHA. May 13. Cattle Receipts. 100. Market, steady. Native steers. $4. 650. 10; cows and heirorn, $3.00(5' 6.75; western steers. $3.7fi(fii5.80; range cows and hoirers, $3.0004.90; canncrs, $2.754.00; Blockers and feeders, $3.500 5.50: culvos, $I.007.00; bulls, stags, etc., $4.0005.25. Hogs Receipts, 4700. Market, steady. Heavy, $5.S06.00; mixed. $5.90(fi.00; light, $fi.00fi'fU0: pigs, $5.00ff0.75; bulk of sales. $5.9000.00. Sheep Receipts, 100. Market, steady. Yearlings, $4.65(fT'5.25; wethers, $4.75(5) 5.15; ewes, $3.654.50; Iambs, $5.50 6.50. Chicago. By Associated. Press. CHICAGO, May 13. Cattle Receipts Re-ceipts estimated at 2000; steady. Beeves, $4.956.45; Texas steers, $1.605.60: western steers. $4. 8057)5. 60; stockers and feeders, $l(ff'5.65; cows and heifers, $2.40 3.155; calves. $4.G07. Hogs Receipts estimated at S000; market mar-ket steady. Light. $6.050.47; mixed, S6rgi6.37: heavy. $5.856.25: rough. $5.95 (7U6: good to choice heavy, $Gig6.25: pigs, $5,950)6.35: bull: of sales, S6.10SG.30. Sheep Receipts estimated at 500; market mar-ket steady. Native, $3(5)4.80; western, $3.50$? I.S0; yearlings, $4.60S'5.60; lambs, native, $i.506.65; western, $5.2536.70. Kan8aH City. By Associated. Press. KANSAS CITY. May 13. Cattle Receipts Re-ceipts 200; market steady. Natlvo steers, $5.25tfj)0.15; natlvo cows and heifers, $3 G: stockers and feeders, $4.7Bii)5.75; bulls, $lf5,25; calves, $l.307; western steers, $i.755?)5.S5- western cows, $3.255. j.j0gH Receipts 3000; strong lo 5 cents higher. Bulk. $6.05gi6.12: heavy, $6 05Ii 6.10; packers and butchers, ?0,05tfJ0.15; light. $6.100.6.15. Sheep Receipts nono; market steady, Muttons. $3.05(9)4.50; lnmb3. $4.50(8.6.35; fed wethers and yearlings, $4j5.35;; fed western owes, $3.50(f?4.25. St. Louis Wool, By Associated Press. ST. LOUIS. May 13. Wool Unchanged; Un-changed; medium grades, combing and clothing. lOGT'lSc: light fine, 168)16c; heavy lino, 1214c; tub-washed, 20(a)2Sc. |