New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-05
REVIEW OF THE
STOCK MARKET
Securities Advance and
Close StrOng-Steel
Stocks Active.

With renewal of activity the market
advanced Yesterday in wider range
of securities. At the close prices were
at or near the highest levels Of the day,
with gains of from onc-half 10 over a
point generally throughout the active
! list over 100000 shares changed
hands. and more than 100000 in
bonds.
The market was particularly strong
in the first and last hours. with rather
quiet trading I'm between. Early Lon
don prices were irregular and failed
to exercise the depressing influence OF
earlier in the week. The opening here
showed fairly general gains, that in
creased as the day went on. Despite
slight reaction in the afternoon the tone
at the close was strong and hopeful
Steel securities were especially strong.
Bethlehem Steel's good earnings and
rumored dividend action caused I'M
usually heavy buying, that advanced
the common to 411a and the preferred
to s2H, gains Of over . points each
and a high record for the preferred
since 1906. Republic Steel made ad-
vance Of ~ points on common and
preferred. United States Steel went to
65N. a gain of | point, and closed a
shade lower.
Authorities on the iron and steel
trade reported increased productions OF
steel and pig iron last month over jan
uary. The steel companies turned out
47,5O5 tons a day. against 1851 the
month before, and the production Of
pig iron was GLASS tons day, COM
pared with 6O.60S This is the first IN
crease in pig iron business since Sep
TENDER Twenty new blast furnaces
were blown In during the month. The
failure Of the Lamar rebate charges
against the United Steel Corporation
had been generally expected
Now that attention IS being directed
10 the equities Of the express com
panies. their stocks continue more &C
tive. United States Express receded
3 points 10 6S, and then rallied to 40.
Wells Fargo made a fractional ad-
vance. Adams Express sold again at
par, but the close was lob bid. lOo
asked. Coppers continued strong
Analgamated advancing point.
Reading. Union Pacific and ST. Paul
made gains OF one or more points. New
Haven recovered nearly point, and
Central was up fraction at the close
Large decreases in net earnings FOR
January continue 70 be shown by the
leading roads Reading lost over 81
900 900 Northern Pacific 100000 and
Louisville &, Nashville S275,0OO. The
Chesapeake & Ohio has arranged for
an issue Of 500. 100000 5 per cent notes,
and tho Baltimore e Ohio is expected to
make similar short term financing but
for q larger amount.
The general news OF the day had lit
tIa influence on the movement OF Sc
crrrities. In view Of the existing strain
in the Mexican situation the reslgna-
ton Of such a seasoned diplomat as
John Bassett Moore from the State De-
nartment was generally deplored. With
the assurance Of Great Britain's friend
" attitude contained in Sir Edward
Crews speech OF the day before. how
ever. traders who considered only I'M
mediate Developments felt that ms
troubles of the republic to the south OF
us could be ignored for tho present
The money market was quiet, win a
slight advance in time loans for the
shorter maturities. The Sub-Treasury
has gained since Friday nearly so'5"'-
600 from the banks. Forecast or the
Bank of Frances statement was less
favorable. a gain of 100000 francs in
gold being almost Offset by loss OF
9. 123 900 silver.