New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-02
REVIEW OF The
STOCK MARKET
Weakness at Close Of a
Waiting Day-M o p
Issues Strong.

Railroad financing problems unset
tied at the end Of tho week were SIN
IN doubt during Yesterdays trading
and the result Of tho negotiations AT
Niagara Falls seemed even more un-
certain. so securities drfted along as
on last Thursday and Friday. little
active selling toward the close bring
Ing about net losses Of up 10 point
or more I'm the shares most dealt In.
The list Of issues in which transactions
were made in the morning was excep-
tionally narrow and number or
standard securities did not appear all
Gay. Late activity brought the total
Of the dav 10 over 100000 shares. Eu-
ropcan hourses were closed for Whit
Monday. Bonds were quiet and gen
orally Arm. with business well distrib-
uted.
Missouri Pacific showed cXceptional
strength in the early trading Drec-
tors were I'm session during the day
determining the future Of the road and
announcement that the plan for OK
tending ,he $4,000 600 note issue had
been declared operative was not made
until after the close. though in the
afternoon one OF the directors was
quoted as saving that receivership had
been averted The market had felt
fairly certain. however. that the inter
ests behind the road would meet the
demands OF note holders who declined
the exchange proposed. After advanc-
ing to 1873 the stock closed a. 1873.
with q net gain Of Is. The bonds were
firm. the 40-vear is making gain Of
nearly 3 points on the day and the
notes advanced 4 points on the curb.
Carranzas assumption Of the title Of
President Of Mexico strengthened con
viction OF the futility Of any arrange
ment for peace that left out the Con-
stitutonalist forces, now In actual pos
session Of so great proportion OF
that troubled country. AdviCes from
the medators reported p deadlock
reached. representatives OF the United
States insisting that Carranza be rep
resented in the discussion.
President Wilson gave opportunity
for further insight into his ideas Of
business conditions. Standing by his
diagnosis that the present depression
WAS psychological, he limited the diff
Guilty 10 the railroads and TO the steel
7
roads for new orders. The tariff he
removed as a possible cause by point
ing out that business was below nor
NAL in Europe. Prosperity would
come on the jump If business men only
believed so. he suggested, though that
prescription proved ineffective not so
very long ago.
The government cotton estimate
placing condition Of the crop at 14.3
the smallest in seven years, was a tri1e
worse than had been expected. com
pairing with 191 q year ago and a ten
year June average Of S0.4. The South
west seems in particularly unfavora Bile
/ condition, but the season is yet young
and there was little 10 show that the
securities market was particularly
affected.
Steel closed with net loss Of >. Of
point and Union Pacific OF Is. in
both the final price being the lowest OF
the day. Reading lost q point. Cana
dian Pacific was firm I'm the forenoon
and closed only small fraction down
/ New Haven was again reactionary,
and New York Central lost over a
point though the Norris resolution for
/ inquiry about its consolidation was re-
/ ferred 10 a committee. American Beet
/ Sugar showed early strength on a
/ rumor Of tariff revision, later denied.
Virginia deferred Us opened a point
/ higher at sc. but declined to 6124.
Foreign exchange, after early weak
/ ness, advanced on first OF the month
retirements. demand sterling closing
% points higher at 1850. Before the
market closed announcement was made
/ OF engagement Of s., 900 900 more in
/ gold coin for Wednesdays steamer to