New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-19
REVIEW OF THE
STOCK MARKET
Securities Advance Follow
iug Good Mexican RumOrS
Money a Bit Firmer.

Following reports that the Mexican
dictator had expressed Willingness 10
his removal as a disturbing factor In
the Mexican negotiation, securities
opened strong yesterday. Though some
reaction followed the first hour OF
trading, little stock came out, ana an
advance in the Hnal hour brought on
renewed activity Gains on tho day.
while irregular, reached over point
in some OF the issues most dealt H.
Buying by traders who closed out COM
mitments over Sunday and renewed
European purchasing, which reached
greater proportions than for some t'h
DAYS previous. assisted In the improve
ment Bonds were rather quiet, pu'
many issues showed small fractional
gains.
Denial bv one Of Huerta's ENJOYS 10
the Niagara Falls conference that ne
had included his resignation among the
concessions they had been instructed
to offer had some influence toward tho
early reaction, but profit taxing oS
professional traders was greater lac-
tor The problem south OF the no
Grande is more potential in creating
underlying market sentiment than IN
causing hourly fluctuations in security
prices. Such warnings as that OF
ex-Presdent Taft. based on MS eX-
perlence in the Philippines, that COM
plete pacifcation would mean the EN-
ployment Of an army OF 4Oo'Oo men
for two or three years, at cost OF
81, 100000 day, are not lightly re-
sarded. The Mexican land question,
in which It is threatened we are to in
terfere, is a large one to undertake to
solve. Many believe that il would be
the work OF generations instead o.
months 10 make the Mexican poems
capable Of self government and of hold
ing the land which is so glibly pro-
posed.
While the report assuming to tell
how the Interstate Commerce Commits
sion would vote on the freight rate
case was too specific TO be generally
credited, expectation Of some relief
continues, and without doubt is being
discounted in present market opera
tions. Rumors are reaching Wall
Street, too, that it is possible that
pending antitrust legislation may be
greatly modified or even abandoned.
Strength and activity OF Steel, which
nar.f NJ
days business on the floor may be as
cribed to hope of renewed buying by
the railroads. After advancing 1a4
points to 631s Steel closed at 62%.
Reading and Lehigh Valley. coal car
riers that are facing a possible lower
ing of rates at the hands of the COM
mission, Jagged in the trading and
made only fractional gains on the day.
Railway Steel Spring gained over n
point, and the preferred. on single
transaction, advanced Az. Union Pa
cific went ~ points higher to 11Sa.
but closed at 1914. Chesapeake x
Ohio turned reactionary again and lost
IL points. Canadian Pacific advanced
over points to 1855 and made a net
gain Of ~
/ Further proof OF the readiness Of tins
investment market to absorb short
term loans were furnished in the over
subscription here and abroad of the
S1O,O00,OO0 United Fruit per cent
notes. Money here was a little irmer
following the check in growth of sur
plus reserve. Call loans were renewed
u of / per cent higher at 17s per cent
and time accommodation was at rates
slightly advanced. Demand sterling,
with few commercial bills available
and London discounts irmer, closed
higher al 1885 TO 4.SS4O.