New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-13
REVIEW OF THE
STOCK MARKET
Dull Trading in Unusually
Narrow List - Prices
Generally Firm.

Trading on the Stock Exchange yes
terday fell of TO midsummer dulness.
with the volume OF business. some 49,
coo shares, the smallest for month
or so and an exceptionally narrow list
OF active shares. Such price movement
as developed ives toward higher levels,
but cave in few instances changes on
the day were only fractional. No new
stimulus appeared for professional &C
tivity. but there was no sign OF outside
liquidation, and such trading as was
done for foreign account was for The
most part on the buying side. The
bond market. however. wns the most
active In a week, with prices firm.
Tho market opened here fractionally
higher but before the end Of the first
hour trading had died away, and II
slackened further as the day advanced
until in the early afternoon X reached
a state Of practical stagnation. Usually
active securities such as Atchison,
\ Northern Pacific and Steel preferred,
did not appear on the tape until tho
afternoon, and the issues not traded In
| included Mexican Petroleum, Southern
Railway. Louisville & Nashville, Beth
lehem and Republic Steel and United
States Rubber. Western Union
changed hands only In odd lots.
Such market leaders as Union Pacific
and Amaigamated Copper fiuctuated in
a range of II Of q point. Steel varied
only q during the day. At the close
Steel had gained Il. Union Pacific Is.
Copper was unchanged and Reading
had lost q. International Harvester
rose to 1091s. but later fell OF and
closed st los, up a small fraction on
the day. Consolidated Gas continued
weak and lost over a point.
Weeks OF negotiation over plans for
meeting Missouri Paciflc's S25.O00,0OO
gold notes. due June l, produced an
nouncement overnight Of plan for
their extension. The collateral. on
which the issue is based, is TO be
strengthened, and the rate of interest
raised from 3 TO per cent. Considera-
BILE uncertainty exists as to what will
be done If a large proportion of the
holders of these obligations refuse 10
assent to their extension. Missouri
Pacific yesterday was, next TO Reading,
.the most heavily dealt in issue on the
list. Opening with a gain of !. OF a
point, It shortly fell off to 161s. but rail-
lied TO close at 1914. with net loss
Of IS.
General news Of the day was ignored
by the traders. The government fur
nished a report Of weather favorable
TO the crops. Mexican negotiations
were continued, with less prospects Of a
breach over the seizure Of lighthouse
by American forces. Abroad the
bourses were fairly firm, the London
settlement proceeding with threatened
difficulty apparently averted. Consols
and rentes improved, early London
prices for American. securities were
fractionally above parity and of tho
5,OOO-odd shares traded in in this mar
ket for foreign account practically oil
were purchases.
Paris and Russia took the greater
part Of the 100000 OF New Cape gold
offered in London, and no further en-
gagements Of gold for export from this
market were reported during trading
hours. Previous engagements showed
their effect in the loss Of the banks 20
the Sub-Treasury Of $S43, 900 since FRI
day and demand sterling eased eff.
closing at 4SS05.