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Show SPECULATORS LOOK 1SK1CWPKIT General Disposition to Refrain Re-frain From Commitments Until Political Sky Clears. XDvv YORK, Way 26. The slock market mar-ket la-st week gave farther evidence of the subsidence of organized speculation which had been foreshadowed. The disposition dis-position to refrain from active operations wa attributed to a desire to await further fur-ther shaping of the political proupect. Ajixloty on that account was allayed by contlnued' good reports from the Iron and steel trades. Besides the political situation, the largo requirements confronting the money market mar-ket shared in rcsponulbllity for the caution cau-tion displayed. The chief of these are tho preparations for tho financing of the New York, nubway. Involving the securing secur-ing of capital estimated at $270,000,000. Assurance is felt that tlnj plan will arrange ar-range for such installments aa to cause the least possible disturbance of the money market, Undcrta-klngs Involving en hugo an amount, however, -.cannot bo entered upon without provision of credit and security uuch as Is hound to effect available banking resources. It Ja .significant of New York's continued contin-ued command of banking resources that the week should havo seen a renewal of lending to Bnrlln In spite of the hea.vy demands ahead of our own mnrkut. Good auguries of the French money market were drawn from the olRhty-tvro subscriptions sub-scriptions of the Parte municipal loan of $41,000,000. The effect is qualified bv the determined discrimination of Froncii investors for home enterprises over since last year's Mnrocrnn crisis. Warnings by German financial authorities of danger dan-ger from Industrial overexpanslon give point to tho hardening of discount rates In Berlin. The coming Chinese loan makes another Item In the banking account- Fresh labor troubles in London and Hungary directed attention to tho social discontent the world ovor. The anthracite anthra-cite minors" settlement nonaged immediate imme-diate anxiety in this country. Tho demands de-mands of tho eastern locomotive engineers en-gineers now in arbitration and those of tho firemen still to be disposed of overhang over-hang the future. The decrease of corporation cor-poration net earnings for 1911 of $115.-300,000 $115.-300,000 as reported by the Internal revenue rev-enue commissioner was another Item for digestion. Further demands from rail-roada rail-roada for steel products keeping the mills running closo to capacity and struggling to effect deliveries coupled with reports of great development projects by tho rell-roada rell-roada make a groundwork, for keeping up speculative confidenoe. Another Jump In the wheat market gave- new Importance to the unsolved problom of last year's harvests. There also were further estimates of tho acreage forced out of cultivation by the flood damage in the cotton regions. |