New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-19
REVIEW OF THE
STOCK MARKET
Rally After Early Drive
Close Trregular-Bank
Surplus Increased.

MI. octive decline OF he last two
,sa,,s ceased yesterday, with securi-
ties at the close uncertain ana snow
ing irregular fractional changes from
the nnal figures Of Friday. The Lon
dan market had been fairly firm, but
the opening here was heavy, ano an
early burst Of selling pressure sent
prices down TO around the low levers
NJ the week. The market then rallied
,,,..s,,,,ab,v on short covering. and tho
earlv half Of the morning ending Win
fairly good advances. In the ater
trading price movement was uncertain
with a little recession, followed oy
hardening toward the close. Transac-
tions for the day amounted to almost
ooO oo0 shares. Bonds were quiet ana
a trihe frmer.
Missouri Pacific showed considerable
strength on reports that arrangements
ware being made to refund the 80
nooOno r per cent notes maturing on
June with a per cent two-year note
issue and a small cash bonus. Ihe
stock gained over a point on the day.
closing al 1919. Its lowest was only
shade below the last quotation or Fiji
day. and II changed hands as high as
oOI. Dealings in the stock were much
lighter. the total being under 1900
shares. i
New Haven. which has held firm OF
late. advanced on small TRANSACTIONS
almost a point to 6912. closing only
small fraction lower. Detailed an
nouncement was made Of arrangements
TO raise over S60OOO,000 through trus-
teeing Treasury assets. This VIII give
more than S15,OOoOO0 above present
note requirements. Steel in the early |
trading sold down to 5I}s, loss Of |
over q point and a new low mark for /
the present movement, but rallied 10 /
$751; at the close. Lehigh Valley MADE |
I'D ia points Of it's recent decline, /
finishing the day at 1865, some buying /
being credited 10 the theory that pres /
ent quotations were not high compared /
with other similar securities even If !
the dividend should be reduced 10 per |
cent. Can made a further fractional /
loss. Reading was depressed over /
point to 161, a low price for the year, /
but closed at 1915, only a fraction .
down on the day. Union Pacific made .
a net gain Of Il Of point after selling /
down to 1929.
Trade conditions as reported by the 1
mercantile agencies continued unsatis- /
factory, with buying still light and 1
weather generally unsettled. Rail |
road earnings for the first week Of |
April made favorable comparisons with |
those of the corresponding period of /
1918. though this was in large meas
ure accounted for by the floods Of last /
year. Commercial failures were again .
greater in number than a year ago.
Despite requirements for financing
the city's S65.OO0,0O0 loan and the New
York Central bond Offering, the Clear
ing House statement OF actual condi-
tions showed an increase Of nearly
S3.000,00O in surplus reserve, as cash
holdings were over 50, 100000 greater
than the week before. Effect Of the
weeks bond issues was seen in an ex-
pansion Of over S36,OOO,OOO in deposits
and Of SOS, 900 900 in loans in the actual
statement. against increases of only
about $4,000 in loans and S7,O00.000 .
in deposits in the weeks average. Sur
Plus reserve is now s21, 67S,4 400, some
). 100000 greater than this week last .