New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-13
REVIEW OF THE
STOCK MARKET
Slight Recovery in Prices
Demand Sterling Goes
Above 4.S9, but Reacts.

4 sit9ht recovery in yesterdays mar
ket left prices fractionahy hlshel ~
the close. despite some late profit TAX
,,s business was on the familiar low
scale OF the week, and with coh'lhueo
uncertainty over the impending freishl
rate decision professional traders 10
,,ho,,, The market is left take profits on
r,so and cover on a decline before
either movement cen make much neSo-
wav. Fairly definite reports came 10
the financial district that tho Inter
state Commerce Commission would an
nounce the result OF It's elaboration on
Monday instead Of Saturday afternoon
and circumstantial surmises as 10 what
the decision would contain were circu-
lated without any particular effect on
tha trading. Purchases FOR foreign &C
count here at last reached some lo'VVV
shares.
European bourses themselves were
heavy. Threatened renewal OF hosuh-
ties between Greece and Turkey was
discouraging. and fears Of reversal OF
the new French Cabinet, justified later
were also depressing. The peculiar
coalitions that rule France have con-
t,nually postponed the necessary fund
ing government loan, which restricts TO
q great extent private financing In
Paris.
On this side OF the water Mexican az
fairs seemed more hopeful with media
tors reaching Definite understanding
toward settlement and the Constitu-
tionAlists showing some start toward
accepting the conclusions reached at
NIAGARA Fails. Suspension Of group
Of banks IN Chicago did not appear TO
be Of importance here. and according
to advices from that city meant only
the clearing up Of weak spot there
that has long been recognised
The effect Of the Panama Canal vote
In the Senate In putting trunk lines
that reached the coast In better posi-
ton to meet competition through the
Panama Canal gave strength TO Union
and Southern Pacific, which led the
market in an early upturn. Activity
soon died away, however, and In the
last hour traders seized their profits on
tn. slight advance, but the close was
fairly firm.
Union Pacific, Southern Pacific and
Steel at the end Of the day, while be-
low their best, were each a good frac-
ton above the final figures OF Thurs
day. Reading Jagged and improved
only n shade. Central Leather con-
tinued It's upward movement on rather
active trading. Chicago Great West
ern shares were bought on the rumor OF
lease by the Grand Trunk that would
guarantee dividend on the preferred,
Specialties showed gains Of point or
more, among these being American
Agricultural Chemical American To-
bacco, ]. I. Case preferred. Goodrich
preferred and Roebuck.
Before business Yves ended $4,000
more in gold had been purchased at th'
Sub-Treasury for shipment to Paris
bringing the present export movement
TO over S3S, 100000 Exchange rates
were higher in the morning, demand
sterling going above 4.S9, but reactint
q trife before the end OF the day. WITH
some S197OO,O0O in gold taken for Bu
rope this week indicated gain on trans
actions with the interior left an ap
parent loss in cash by local banks o.
around $1,000 600 A frmer tendency
appeared in the longer dates for fxet
fund accommodation, but call loans re-
newed lower at ~ per cent.