New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-25
REVIEW OF THE
STOCK MARKET
Stocks FractiOnalIy Lower
After Dull Session.
Gold from Canada.

Fractional declines were general yes
torday at the close. after a day Of
irregular trading. with transactions re-
duced I'm volume and in much mar
rover list than on Monday. From noon
until the last half hour business was.
almost al q standstin but considerable
selling pressure developed toward the
close The bond market. too was duh.
with little activity even among the
more speculative issues and with small
price changes.
The London market accepting the
crisis in Ulster as passed, was steady.
Consols again improved. and American
securities early in the day while irreg-
ular. were quoted not far from Mon
DAYS close. In this market London was
again a buyer. and to an &ppreciably
larger extent The opening here was
irregular but fairly firm. moderate
profit taking bringing about an early
decline Through the dulness that
marked the greater part Of the days
business the market leaders held fairly
firm. Such stocks as Union Pacific,
Reading ana Steel touched their low
point shortly before the close.
\ few specialties showed more price
movement Announcement that success
by the government in its antitrust
suit against the Corn Products Refining
Company would wipe out the value Of
its common stock and make the pre-
ferred of little value. caused an abrupt
break in these securities. the common
dropping > points TO %. and the pre-
ferred over 3 TO $685.. Central Leather
recent strength in which has been part
" based on rumors of another dividend
on the common, receded when the di-
rectors met without action. Virginia
Carolina Chemical showed further
weakness. Rumely issues continued TO
decline. the common touching ., loss
Of III points and the preferred break
ing over . points TO 25as, a new low
record. General Motors advanced over
a point on small transa ctions, and
Studebaker was also strong.
Outside news again had little market
effect. Heads Of independent steel com
panies were quoted al variance on the
condition of the steel trade. Reported
strength Of the copper metal market
was not reflected in the price Of copper
securities. Mexican affairs were disre-
garded, It being apparently considered
that until the battle raging in that
country had been decided no develop
ment could be expected in its foreign
relations. The importance of an early
favorable decision in the freight rate
case to the hoped for revival of general
business was reiterated in interviews
from a leading banker of Chicago and
a great merchant Of this city. In the
mean time from Washington came
word Of further postponement Of hear
ings on the spottng question, so that
the roads could introduce new testi-
mony showing their financial require
ments and evidence in rebuttal Of that
offered in opposition 10 the proposed
increase. It is possible that hearings
may be continued until the latter part
Of April.
Money continued easy. Call loans
were again renewed at Is per cent, and
funds for time accommodation and
mercantile paper were abundant. For
eign exchange was rather quiet, with
slight reaction. A small shipment of
gold was received from Canada. De-
spite abundance of money at this cen
tire the exchange situation with Canada
is such that larger imports may be OK
pected The banks since Friday lost
81. 2S6, OoO 10 the Sub-Treasury.