New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-11
REVIEW OF THE
STOCK MARKET
General List WeakenS as
Special Issues Break to
New Low Levels.

The market yesterday did not resist
en- we'll the repeated pressure on "eaA
snots. and in the early afternoon ap-
reared decidedly reactionary, out some
recovery before the close made decililes
IN the ccnral list for the most part
orl,. Of fractions. Selling for foreign
scconnt over the arbitrage rail and dl,,
Icct added TO the tendency toward
lower levels and extended TO the oondS
of weaker railroads. c.,1
In addition to declines in Gould
shares. Chesapeake & Ohio and New
Haven. New York Central, whlch mas
been reporting poor earnings ior some
time. broke pa points IN sympathy.
Canadian Pacific followed European
selling, based on anticipation OF an uh-
favorable report on the recent ma i"e
disaster off the Canadian coast WIN d
decline of over 3. Word CANE .io.'
Washington in the afternoon that at
tor,evs Of the Department Of Justice
,vere preparing briefs 70 renew anti
trnst proceedings against the New ma
ven. and that stock went to new low
levels AZ 5s7s. Chesapeake ONO de-
clined further on fairly heavy trading
Nissouri. Kansas e. Texas shares turned
resctionary again, with maximum losses
of moro than a point in the common
IL Ia L
rrd over 8 in the preferred. ROCK ISL
and collateral As continued weak
Missouri Pacific was again the moSS
oct;ve stock of the day, giving way sun
T,r.ber 10 95s. the lowest on record,
ord the convertible 5s and forty-yeaf
1s lost all and more of the recovery o.
the day before. Denver shares wen
still lower-the common 70 ofs, the
nreferred TO II. For all this genera
weakness Of Gould issues no expisns-
ton was offered beyond that OF tne
narrow margin over fXed charges
shown By most lines.
The market generally was lower AZ
the opening. following Londons Ieao'
The fears of outbreaks IN Ulster WIN
tho anniversary of the battle OF the
Rovne is celebrated on Sunday de-
messed securities. Continental selling
based on liquidation from Vienna ADD
"a IN the reactionary tendency.
Announcement by the United states
Steel CORPORATION of the first gain IN
untitled tonnage since February was
disrerarded. The increase IN June,
nearly $4,000 tons, was about as eX-
nected in the trade, but orders so lar
This month have been reported on
cod basis. and trade authorities may
10 justified in their estimate that tne
corner has been turned with the mid
wear. Business men announced aiVer
conference with the President that they
felt confident that the trust Legislation
would be modified. At present they
are urging a federal trade commission
with broad powers. Little. progress
was made in the administrators night
for its nominees to the Federal ke.
serve Board. but bankers here were
cra,ified at the demand by business
mon and newspapers throughout the
countrv that Mr.. Warburg should De
confirmed. c.. r
The loss of the banks on Sub-iress-
urv transactions has been raised 10
500. 659 900 through payment by Greece
for American warships. From the IN,
terror local institutions have cameo
some $1,000 900, which would INDICATE N3N
an apparent cash loss Of over SlS,OoO,-
600. With surplus last week less tnan
si0 600 600 some reduction of loans
NAV be expected. Money rates mere
continued easy. Funds on call were
Increased by foreign offerings ana re-
newals we're made at 2$4 per cent