New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-16
REVIEW OF THE
STOCK MARKET
Securities Sag a Trifle
Lower-Gold Coin to
Go to London.

To uncertainty over the rate decision
was added yesterday expectations OF
,mportant action by the Supreme Court
and the Stock Exchange was as quiet
as AT the end OF the week, the volume
~ business falling under 100000 shares
The market opened with small frac-
tional declines among the more active
issues. but little selling pressure ap-
peared and standard securities varied
little during the day. At the close
small net losses were common. Bonus
changed hands in a broader list than
shares with some tendency toward
Improvement in number OF issues.
President Wilson added 10 the feel
ing Of encouragement by declara-
ton that he would urge Congress not 10
delay in enacting the antitrust pro-
gramme. This, he said, would heip
business by removing a cause OF uncer-
tainty. Continuing his argument that
the present depression was psychoiogl-
cal. he showed copies OF letters al
ready made public, circulated among
business men to be sent TO washington
in the hope Of postponing the anti
trust laws and obtaining for the rail-
roads the full increase asked IN the
tariffs filed.
General outside news was disre-
garded by the inert market. Progress
toward starting the Federal Reserve
system was made through the Presi-
dent sending to the Senate his nomina-
tions for the board, 30 If the Senate
makes immediate confirmation and the
board promptly takes necessary action
II should be possible for the regional
banks to be open on the first Of August
as planned.
European bourses were quiet, still
uncertain over the threatened out
break in the Balkans and the course
Of the new French Ministry. In this
market arbitrage business for foreign
account was reduced to a minimum.
The London market was irregular, but
| consols closed G shade higher while
prices in Paris held firm.
Here an announcement by directors
Of the ST. Louis Southwestern that they
did not feel justified in view Of present
results in continuing dividends on the
preferred was preceded, by a violent
/ break in that stock that carried 1t
down to 43, net loss Of 1C15 points.
| At the close 1t had recovered points
/ Of the decline and the final bid and
asked price was As to 80. The direct
| ors expressed hope that the suspension
was only temporary, but 1t was under
stood poor prospects for the cotton
/ crop made them decide on drastic &C
| ton. other Gould issues were weak.
| Denver & Rio Grande preferred de-
/ clined 3 points, the common made a
maximum loss Of nearly 2, and Mis-
sour Pacific closed almost l point
down.
OF standard issues Reading finished
the day unchanged and Union and
Southern Pacific, Steel and Copper
made declines Of small fractions
Among specialties that showed i'm
provement General Chemical was
prominent, with a gain Of liz points
from the last previous transaction. In
terborough Metropolitan, preferred
was rather actively dealt in at lower
prices following failure Of the direct
ors to take action toward a dividend.
During the day S1,750,O0O in gold
was taken for export. Included was
an engagement of $4,000 in coin for
London, apparently indicating the be-
ginning of a movement to that centre,
last weeks small shipment being of
bars. more profitable to export Ex-
change rates held firm, demand ster-
ling ending the day higher at 49,.
Time accommodation was at slightly
higher rates, but call loans renewed at
Ia per cent.