New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-29
REVIEW OF The
STOCK MARKET
Securities Make Up More
of Recent Decline
Break in Mo. p.

with continued progress toward
peaceful settlement OF the Mexican dil-
hcultv and reports from Washington
that were taken 10 indicate favorh-
BILE disposition Of the Interstate COM
merce Commission toward increased
freight rates. securities recovered 1ur-
Their Yesterday. Closing prices IN
number Of the active issues were tho
best OF the day and net gains were gen
eral. reaching over 4 points In speclai
instances. A large part Of last weeks
decline has been made up some issues
closing higher than a week ago Satur-
day Buying for the greater part now
ever, represented covering by the snort
interest. and little outside purchasing
was reported from the commission
houses. The volume of business
around 415OOO shares. was rather
larger than on Monday but the bond
market continued rather quiet and still
narrow. The more speculative bonds
were strong and state and city obliga-
tions were again little improved.
London and Paris, following General
Huerta's acceptance Of the principle OF
mediation offered by -Ie South Ameri-
can republics reported frmer prices
and some advance IN consols and
rentes. American securities IN the
early London trading, while irregular,
were generally above Mondays close.
but London was occupied with its set
Element and bought only moderately IN
this market.
The overnight news that the counsel
10 the Interstate Commerce Commits
sion IN the Eastern freight rate case
had admitted the necessity OF rate adj
tustment, taken with the commissions
favorable decision Of the day before on
the New York Central-Lake Shore con-
solidation. was generally believed TO
foreshadow relief for the railroads.
The vote OF the commission 10 close
argument in the case on Friday was
considered ground for hope Of a fairly
speedy decision on the necessity Of
greater return TO the petitioning roads.
Railroad shares generally advanced,
the gain in Reading and Lehigh VAL
ley reaching 3 points and in Southern
Pacific and New Haven over . points.
Missouri Pacific. however, showed ox-
ceptional weakness. Opening at 1914,
Il broke over points to 1874, and
ended the day with q net loss Of over
points. No special news OF plans for
meeting the S25.OOO,OOO notes OF the
road, soon 10 mature, had appeared IN
market hours to account for the break.
Canadian Pacific, while somewhat less
active than Of late, was particularly
strong. advancing over points to
1919.
Steel was rather quiet IN the after
noon. but changed hands at 5S14, more
than a point above the final figure Of
Monday. closing at SO. Net earnings
Of the corporation for the quarter. pub
as figured in unofficial estimates. The
total bit under SlsOOO.O 900. was some
$1,000. 900 less than for the last quar-
ter and about 100000 under the
first three months of 1913. The regular
dividends were declared on common
and preferred, making deficit for the
quarter of over S6250.OO0.
While awaiting some definite devel-
opment in the Rock Island situation
the collateral bonds, which closed at
32% on Monday. were rather actively
traded in again. changing hands as
high as 341a. Southern Pacific con-
vertible rs and Baltimore & Ohio con-
vertible 41as also improved. New York
Railways adjustment So advanced over
point to 5412.
Again the new gold OF the week Of
fered IN the open market in London
went 10 the Continent and India. and
London discounts were frmer. Money
for market purposes in this city was
abundant at unchanged rates. Re-
opening Of its New York accounts by
the F1rst-Second National Bank OF
Pittsburgh. with a transfer Of S13, 900. e.
600 through the Sub-Treasury. resulted
in gain by the banks since Friday OF
S9,6O4,OOO on Sub-Treasury operations.