New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-11
llPICS OF The DAY
IN WALL STREET
,,.w Haven News Received
with Mixed Feelings in
the Street.
rpADERS LOSE THEIR
PROFITS ON RIGHTS
s,,iuos Deposits Show a Record
Grovth-Exchange Rates
Jump 35 Points.

Jump S5 Points
nth mixed feelings that Wall
-sceivod the news OF the COURT
sIee' eesinst the New Haven &c
c. ,ssue Since the issue Was an
VI. here has been a considerable
fo-Hes g. ,tc New Ravens situation
r,ne the earnings Of the roao are
az enough roadiug. The company ;
-. 80 prospects. with the DIVIDEND no
ohHcation and its passing d.
ga" a-s a serat deal brighter. AZ
fs'.'. 49, vas the way the street looked
., 70 the close Of business on ri
There was not much discussion ol
AZ .I.son Of the dcbeuture issue DC
=, was taken Tor granted that inc
-. eorvice Commissi on's authorize
-. -,-,s he upheld. But yesterday
,ss first surprise had passed there
p eoos many 10 say that the New
Rad much less 20 lose by the
s.,,,ent OF the convertible de-
a.. nan than was commonly sup
~,c.
The Silver Lining.
s..,,,gs in the New Haven dc
rs when issued and in the STOCK
N'-. tights TO subscribe were, or
- automatically cancelled by ;he
decision. and with them went
'~-s..ss of thousands Of dollars IN pa
:. ,roats. The stock Exchange made
,o-nal ruling yesterday postpohlns
-. .r.,on until q received direct "oro
,ns company. on Friday the deal
W. q ,ba when issUed' conVeruoles
-. cav heavy. particularly IN the last
- =, trading. when they sold up from
ca "a 49,. $4,000 worth changing
~. Speculation in the deoentures III
-. "a. been active. IN the course OF
-, sr,.f and tentative existence they
-. -.,red from lM7s 10 lO1Ss. When
:. s,,ek vas COINS down rapidly there
good deal Of switching by IN
..,.,.s 20 the debentures. That stanus
80. IN good stead now because their
theses o. the debentures are can
.r.a and they can buy back their stock
ga rrice some % 10 3 points lower 'han
,,,-a they sold g. The holders or the
"A outstanding debentures. too have
..s,,d already. Yesterday their secuil-
=. advanced 10 llefs. The last previous
nc. was i0s7s, on Thursday.
SAVINGS Deposits Grow.
IN. Of the signs of the times Is to be
.,rd IN the record AT the Seamens Bank
4. savings Of the largest amount OF de-
..,s and the largest number OF deposl-
:, since January ] in its history. WITH
rivals have been no more than normal
,,.r ,oretber with the bank statement
!. hank clearings Of the country ana
,,r sirns Of business inactivity, II points
4 ,,l-ly 10 continuance Of the period OF
sstal accumulation. which will be endea
rly vhen there Is a real revival IN busl-
Us Or when the coming Of that revival
1 ACCOUNTED in the security markets. The
s,k statement. IL may be noted, showed
crsordinary gains In DEPOSITS, in cash
NJ In surplus. with q relatively small IN
.sas, IN loans Normal loans would
~, q, equal pace with deposits, which
"a large extent represent credits 10
s-rpvsrs
Postponed Financing.
Corporations will have 20 do ire
szious lot Of refunding and new hnanc-
zin 1914. much OF IL postponed from
gii. but so far they have not found the
arks,s suspicuous for their purpose. on
- New York stock Exchange there has
n been single application for the list
za security since the beginning or
:. year. though in busy times as many
IA dozen IN a day are recorded.
Copper Output in 1918.
Shelter production Of copper IN the
ttd States showed considerable reduc-
81 IN 1913. according 10 THE Engineer
. and Mining Journal" but at that was
vi above the 1911 and 1910 figures. The
sal production was 1.23S.S11.5s1 pounds,
ssinS l.24l.762.50S pounds in 1912.
sn'be,s7i pounds IN 1911 and 1886
MN3 pounds IN 1910. The worlds pro-
sstcn decreased about 100000 pounds
M. but increased 25O.O00.o00 pounds
w 1911 and e6OOOo.0o0 pounds over
~ The effect Of the revolutionary dis
cances in Mexico Is plainly shown in
alhg on in copper production there
'''srly 30 per cent
Exchange Takes a Jump.
reign exchange rates yesterday moved
,eef yet 20 the gold export level. or 70
sFel where gold exports begin 10
~ N for serious consideration. Not
sanding the short session. demand
1s moved up 70 4S695 20 4.S7.
:. OF about 50 points on the day and
Va 'he fortnight Heavy purchases by
80" we're the immediate cause of the
s0e together with small offerings.
ne great volume Of idle money here,
eo BY heavy recent purchases OF
.uVal paper and short term notes
" The items Of yesterdays bank
Sni' which were plainly fore
sson ''
COllpCE nr ..N.--