New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-22
REVIEW OF The
STOCK MARKET
Early Strength Soon Lost
Bank Surplus and
Cash Increased.

The week ended Win pIOitSNi'li"'
session of declining prices. The hrst
few minutes Of trading continued the
inward movement of Friday, but TINS
strength soon gave way under selling
pressure that continued 10 the CLOSE
Fractional declines were general
throughout the active list and closing
prices were not much above the low
figures OF the day.
Outside news was Of little market IN
fuence. There was, however, gen
eral Discrimination toward commit
ments over the week end with so
many possibilities of developments
favorable or unfavorable before Mon
day morning. Mexican affairs seemed
10 be nearing some definite conclusion
possibly the long hoped for elimination
of Hucrta. Ulster was still reported
an armed camp. where an untoWard
chance might precipitate trouble that
would disOrganiZe British affairs. In
Paris riots in the streets and inNest-
cations Of the connection of politics
mette assassination. From Washing
ton more definite announcement OF the
progress of the New Haven settlement
was expected. but none was received
during business hours. Reports OF
President Wilson'S frank talk 10 men,
bers Of the National Press Club were
received with interest in the financial
district. where the impression of the
President as a cold abstract thinking
machine has been rather prevalent.
Explanation Of testimony at Wash
ington, in which the Missouri Pacific
was used as an instance to show the
desira bility of banking houses being
represented on railroad directorates,
changed the unfortunate form in which
II had reached the market on Friday.
IT now appears that the argument was
that Missouri Pacific was strengthened
by its banking connection. However,
the stock was not affected on either
day, closing on Friday at the top price
with a net gain of point and making
a further advance of a small fraction
yesterday.
Copper stocks reacted. with renewed
questioning as 10 how much the large
exports TO Europe represented an
actual demand. Rumely common lost
points. and the preferred over 3. AL
| though present financial needs have
been reported as provided for, rumors
Of reorganization persist. Reading
| opened up a OF a point, but made a
| fractional loss on the day. In the early
trading Erie stocks were strong, but
| they. too, lost in the late decline.
| Specialties were less prominent in the
| trading. The bond market was mar
row. with only fractional price changes.
Another bank statement more favor
able than had been expected showed
an actual cash gain Of S6,O5O,0OO with
surplus reserve further increased 81,
$50, $50. Loans were enlarged SJ,llO,-
coo and deposits increased S1S,611 900
Easier money conditions may be eX-
pected unless the requirements of the
securities market are materially aug
mented. Further receipt of $500 900
gold from Canada brought the total Of
the weeks imports from the North 10
| 1929 600 Demand sterling closed at
1860, > points higher than on Friday,
and up % points on the week. Argen-
tinas gold demands according 10 cable
advices from London, are being partly
supplied by Brazil, but this country
may yet be called on TO ship gold to
| Argentina should London decide to re-
| tain its holdings.