New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-15
REVIEW OF THE
STOCK MARKET
Pronounced Decline in $780,
0O0-Share Day-Steel
Below So.

The decline IN security prices VI '"0
last few days became more pronounced
in yesterdays trading and the volume
of business swelled 10 over half a mill
ion shares. At the opening prices were
around Mondays close. with some
small gains. but, after the first nan
hour the market became unsettled ana
then weak. There was a little heslta-
ton daring the noon hour and then
selling pressure Was resumed and con-
tinued up 10 the close, low prices TOT
the DAY beng made for the most part
in the last hour Of trading. Net losses
ranged from a fraction TO point or
more among the active issues, though
there was considerable irregularty, anG
a few stocks held firm.
The response OF the market TO Dear
pressure was not readily eXplainabie on
news developments of the day. MeXl-
can affairs, it is true, seemed TO be APP
preaching crisis, bur the DEFINITE
news that the Atlantic fleet had been
ordered 10 concentrate at TampicO TO
hack ND the demand for a salute 10 the
American flag was followed by brief
fractional uT urn. Doubt over the
actual result of the Interstate Com
merce Commissions deliberations in
the rate cases and uncertainty arising
from President Wilson's determination
TO press his programme for regulation
OF business at this session of Congress
were apparently of more market in
huence than the Mexican question.
The report from the Agricultural De-
partment, that in spite Of the unsea-
sonable cold weather the soil con-
tanned sufficient moisture for the
growth Of winter wheat. was disre-
garded
Heavy selling of Steel was continued,
transactions in this issue again ac-
counting for about one-third of the
DAYS business. Little resistance was
offered until the price reached y, and
The stock went Is lower. finishing the
day at 5SL, with a net loss Of l point.
The bonds and the preferred shares
made some slight losses on the day, but
transactions in these securities were
small. and apparently the liquidation
has not extended very far from the
financial district.
Sales Of electrolytic copper were re-
ported at a concession by foreign
houses and copper shares generally
were weak. Amalgama1e losing over A
point on rather heavy dealings. Petro-
leum shares, too. were reactionary, fol-
lowing the report Of another cut in
prices Of crude oil in the KansasOkla
Iona district. California Petroleum
lost ] point and Texas Company and
Mexican Petroleum over =. Union Pa
cifc and Reading after advancing a
fraction in the early trading. were de-
cidedly weak, selling points below
the best price Of the day and closing
with losses of over | point.
Central Leather, on fairly heavy
transactions, advanced over a point.
New Haven and Central were steady,
finishing the day unchanged. Cana
dian Pacific throughout the day
changed hands above Mondays final
figure, advancing to 300 and closing at
1892, with net gain Of Is Of a point.
Rock Island As sold at a new low price
of 3214 The bond market was much
broader than usual, with prices tend
ing TO follow the reactionary trend of
stocks. Resumption Of business by for
eign houses was without much effect
here, about 1900 shares being dis
posed of in this market on balance.
Money rates continued easy. De-
mand sterling was fairly firm, and
/ Paris exchange on London fell off. caus-
/ ing further talk of renewed shipment Of
gold from this centre TO France. Much
interest was displayed in the result of
to-day's sale of $50 100000 AZ per cent
bonds by the City of New York. The
favorable condition under which mu-
nicipal bonds are now being placed was
shown in the sale by the city Of Provi
dence Of a small block Of thirty-year {
I capto 100 tx opd tpt