| Show IN N. N y Brokerage Failures i of Little Significance a NEW YORK Juno 25 By tOy A. A P 1 The P. The failure of ot two old stock exchange e houses house houSs had an adverse though transient effect on sentiment In the financial markets during durin the past pat week Speculators Speculator for the decline took advantage of at the news to circulate all al kinds of extravagant ru rumor rumors rumors ru- ru mors mor regarding additional Insolvencies and offered largo larlo amounts of stocks and commodities on th the principal exchanges As a matter of fact it appears appear that th tile failures In question which Involved houses houa specializing in foreign exchanges and a securities and which had bad extensive German German connections had little significance cance as al far as a the domestic position Is concerned They measured according to most u observers serer the tho difficulties of 01 carryIng carrying carry- carry Ing Ine on foreign business under existing conditions In the beat best Informed Quarter quarters quarters 1 ter it was said that the domestic bankIng banking bank bank- ing and brokerage positron position is I quite sound sound- and then Ihen nothing is known of any difficulties difficulties cult a a disturbing character In confirmation of this view It was i pointed out that the bears bear executed a i sharp sarp about e after atter having pressed their Initial advance and after ater good buyIng buyIng buy buy- Ing appeared at the lower lower prices In general geneal the view that tl the good fall fal business busi busi- ness flees nels Is I. in prospect was maintained bUSI 1 The sluggishness of ot the tha markets market was ex explained cx- cx lX- lX on the basis balls of ot tho season of the year and the conservatism of buyers In placing new orders orden for tor forward delivery Some signs of increased buying were observed in the steel trade Certain manufacturers were stated to have booked orders ordera In June at a rate materially mate mate- exceeding that of ot May Production continues high bleh and consume consumers are ar re reported reported reported re- re ported to be still sti taking taking deliveries Cancellations Can Can- continue to be notable for their absence Some loss of output is I however anticipated partly party on account of weather and partly party because the in intensive In- In spring campaign makes it necessary nee nee- essary esary to shut down certain plants for repairs Another indication of ot the tho of the recent extraordinary levels level of ot activities in Industry as distinct from new buying for tor future delivery delvery is furnished furnished fur fur- fished by r railroad car loading statistics Loadings continue to exceed one ono million cars car a week which considering the season of the year Is exceptional Ship Ship- general merchandise are aro heavy Cotton Coton prices showed further t fluctuations fluctuations tons over a a wide range ranle in response to the vagaries of at speculative sentiment The undertone was however rather good It I was realized that domestic consumption consumption con con- has remained extremely high but it It is pointed out that as an offset oUst export demand has ha diminished to the smallest scale In several years yean Weather in the growing areas has been favorable favorable Wheat has been consistently heavy and the July delivery delvery declined to within of one dollar dolar a a bushel Since creation of ot additional farm tum credit facilities and government regulations of ot trading hav hay having log ing failed to stem the tho decline financial quarters quarten give more emphasis to the importance Importance Importance Im Im- im- im of foreign markets It I is Os stated that foreign buying has las fallen falen off oft greatly great great- ly since the occupation of of the tho Ruhr |
