South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-05-14
DULLNESS RULES
ON WALL STREET
Stocks Have Stopped Going
Down as Troubles in London
Have Been Patched Up
Missouri Pacific is Bid Up.
BY BROADAN WALL.

NEW YORK. May 14.-Dullness
ruled in the stock market Wednesday,
dizziness with a firmness exasperating
10 the shorts
Stocks have stopped going down.
Troubles in the London market have
beel patched up temporarily and al
though Paris was a small seller of
copper stocks the pressure was not
great
Boston and Philadelphia markets
are duller than our own and the New
York market was long ago sold to
standstiu
Brokers in Missouri Pacific hung
around all day waiting for that prom
ised liquidation which was TO break
the prices and make a lot of little
bears rich. As the day wore on their
patience became exhausted and the
price was bid up a point in the last
half hour
Copper shares were strong. Baruch
was credited with starting the advance
in Utah which carried the price to
90 "a Chino Copper was firm and
Nevada Consolidated and Tennessee
Copper went a shade higher Anal
gamated moved Sluggishly and Ana
conda was neglected. Guggenheim
Exploration showed signs of returning
activity As a large holder of Utah
this company would profit by an in
crease in the Utah dividend
Steel common is making a line be-
tween % and go that suggests an up
ward movement Of at least 3 to 5
points. Trade reports are decidedly
! more optimistic and it is rumored
that granting of an increase in the
freight rates would bring an advance
in steel prices in anticipation of the
placing of heavy orders for rails and
equipment.
RumOrs regarding the increase in
freight rates appeared to agree that
a majority of the commission are in
favor of advances that would in the
aggregate be equivalent to , per cent
There is a wide difference as to when
this report Will be made public, guess
es ranging from the twentieth &C this
month to the tenth of next
General Motors sold up to 50 1-2, a
new high record. Favorable reports
regarding current business and an an
nouncement that S2,00O,00O of the
company'S notes had been purchased
for the sinking fund reawakened in
terest. The shares are probably high
enough, as no immediate dividends
are in sight.
Northern Pacific expects to meet
financial requirements by the issue of
a blanket mortgage about as large as
the company can stand. Some 500
coo. 900 will be needed within the next
few months. Readers of this column
have been familiar with this fact for
some time.
Western Maryland dropped TO 90.
new low. Earnings have not been
up to fixed charges and some difficult
financial problems confront the Sc
curity holders who are not particular
! ly harmonious.
Canadian Pacific fmctuated ner-
vously and a renewal of liquidation is
not improbable. This stock acts Dad
/ ~. Southern Pacific was under pres
sure Blocks of 500 shares were Of
Z fered on all firm spots There is lit
! tie To encourage optimism in this is
sue.
Prices have apparently ceased to
respond to unfavorable news and the
bears whistling to keep up their cOur-
age promised fresh disaster.
The very dizziness in international
markets following the severe depres-
sion is the best kind of an incentive
/ to the optimist.