New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-14
REVIEW OF THE
STOCK MARKET
Late Pressure Continues
Downward Movement
Bonds Less Active.

Of Yesterdays trading securities re-
sumed the downward trend OF the idI-
Ter part Of last week. The early deal
irxs. while rather active, produced no
material price movement. through
the middle Of the day trading was AT
low cbb. ON resumption or ACTIVITY
toward the close small net Losses were
generally made. but little evidence OF
outside liquidation, however. appearei.
Blls,ucss was in a larger volume
amounting to about quarter OF a
million shares. one-third OF this total
being contributed by steel, which was
again heavily sold. The bond market
was less active with prices shade
lower.
The overnight report that the admin
istration would abandon its plans for
trust regulation at this SESSION, con-
tenting itself with the creation OF an
interstate trade commission, that
should investigate and recommend
needed legislation. was favorably re-
ceived. Later. however, came the an
nouDcement from Washington that
President Wilson considered that the
antitrust bills, which had so depressed
the business Of the country, must be
passed this session If his party was 10
keep faith with those that had placed
It in power. From the Senate reports
were received of an attack by Senator
Cummins on the proposed freight
rate increase and Of the reading by
Senator Thomas. OF Colorado Of let
ter from citizen OF Utah protesting
that the Union Pacific was 10 make an
enormous unjust bonded Indebtedness
the basis for increased rates. So the
news from Washington was decidedly
discoraging TO the market. Dispute
with Huerta over the salute demanded
by Rear Admiral Mayo was practically
ignored.
The downward movement in steel
continued. with the stock under press
ure all day over 10000 shares
changed hands and the stock broke
through 60 TO 59l4, closing at the low
point, with net loss of rs. Following
Chairman Elliotts frank explanation to
his stockholders Of the present position
OF the road, New Haven shares moved
in a narrow range, finishing the day
unchanged from Saturdays close. Ca
madam Pacific advanced IL points to
1892. but lost part OF this gain later
and closed at 1885.
Great Northern preferred, on fairly
heavy dealings. lost over a point
Union Pacific, too, declined in the late
trading Baltimore & Ohio sold down
TO IS a loss OF IA points, closing only
a shade higher. Reading was compar-
at.yely firm. losing a small fraction on
the day. St. Paul was strong IN the
early trading. advancing TO 1919, but
lost this gain and ended tho day az
99'4, unchanged. General Motors made
new nigh record at SOS. closing at
SIS. with a gain Of a little less than =
points.
As was 10 be expected after Satur-
days favorable bank statement, money
was in abundance for market purposes.
Call loans again were made al from 8.
to = per cent with the renewal rate
at the lower figure. Time accommoda-
ton was easy at the closing figure OF
last week Mercantile paper continued
scarce. on Sub-Treasury transactions
the banks have gained since Friday
H'3l,VC. Announcement was made
That S1J,OO0,0OO Of the new AZ per
cent bonds Of the New York Central
had been disposed Of at private sale
and that S2JOO0OU0 more would soon
be offered to the public. The kansas
City Terminal Railway Company has
sold to a syndicate an additional 3d.
100000 Of lis per cent bonds.