New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-11
REVIEW OF THE
STOCK MARKET
Slight Decline in Quiet
Trading-Gold Export
Now S5O,OO0,000.

AT the close OF buoAlitI hui SNoS4''
the market was fractionally lower. but
traders had hesitated TO make eN-
tensive short commitments in face OF
the possibility OF favorable rate de-
cision. and little selling pressure de-
veloped. The days turnover was only
a little over 100000 shares. The Lon
dor market continued confident, but
trading here for foreign account was
insignificant. Bonds were dealt In at
about the same volume as on TUESDAY
but in a broader list Of issues.
In such a market routine news OF the
day was practically disregarded. IN
filed orders of the steel Corporation on
May 81, a little under 4,Ooo,OOo were
the lowest since the autumn of 1911,
and over 100000 less than year ago
The reduction in the month ABOUT
219.000 tons, was less than had been
predicted. but this was largely due 10
decreased operations. Iron and steel
trade publications reported orders IN
June for finished steel on better
scale. as well as further Improvement
in pig iron. and prices for future ship
ment were said to be rather firmer.
United States Steel moved little after
the announcement Of untitled orders.
and ended the day only g Of point
down.
President Wilson was reported from
Washington as in favor Of amending
| the trade commission bill so as to add
to the right of inquiry power to start
court proceedings against corporations
instead OF turning their cases over to
the Department Of Justice. The mar
ket. however, continues rather calm in
regard to antitrust legislation. An at
tack on the United States Senate by
| the Secretary of State as plutocracy's
| last stronghold was taken to be some
confirmation of the belief that the
Presidents legislative programme will
be greatly modified in the upper house
OF Congress.
Interborough Metropolitan shares
were active in the morning. but de-
! clined after adjournment of the meet
| ing Of directors, at which IL had been
hoped a dividend might be declared out
Of the extra disbursement made by the
marlborough Transit Company. DIS
tillers' Securities advanced IL points,
with hope of early action in Congress
against the resolution for prohibition,
and the bonds closed nearly points
| higher.
At the opening prices were irregu-
| larry lower. There was a slight rally
in the morning, but the market fell off
again in the last hour, with some scat
tered frmness at the close. Specialties
continued to attract more than their
share Of attention In the quiet course
Of standard securities. Can and Amer
lean Beet Sugar were again fairly ac-
tive, and leather issues were more gen.
orally dealt in at improved prices in the
early trading.
Before the market had closed engage
ment Of 100000 more In gold for
Paris had brought the total outflow for
the year to S5O.0OO.O0O, Of which $34.-
100000 has been taken since May /.
Continued flrmness in exchange rates
indicated that the movement is based
on actual obligations that must be met
in gold. since merchandise and secu-
rifles are moving against this country.
Demand sterling closed only a shade
under Tuesdays high figure. Time ac-
commodation was a trifle frmer, but
call loans were renewed at IL per cent,
as on Monday.