New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-25
.T0PICSOF THEDAY
IN WALL STREET
s,srI Common at Minimum
still Finds Plenty of
Purchasers.
so1JTHERN PACIFIC
ALSO HITS THE BAR
,..,,srs Dividend Declaration
HELPS the Optimists on
Pennsylvania.

-, was no chance 20 break Steel
- 4s because Of that's being the
49, -, price: but there was a chance
.-'L- beors 90 make the stock look
.i - that the Committee Of Five
~ influenced 20 reduce the min
- So there were gathered TO-
~ al the opening about 5000
~. and offered az the bottom price.
- ~tsr some 1900 or 1900 were
'-. s.iv taken Up a change OF heart
800 The offerings at the mini
go 81 nice promptly disappeared and
" r;,si- quarter OF an hour rose
~. Southern Pacific was another
= rat touched It's minimum and
- "a no. cease from activity.
Central Helps Sentiment.
Alienation Of the regular dividend
- New York Central directors i'm
-.5s,sly after the consolidation with
|l.Tske shore became effective was
-..,sbly prompted, in the view Of the
-, he the effect on sentiment OF
-sssis announcement that the vote
I; sssr deferred. Deferred dividends
~ tSs heart sick, because their
- Ia so often reduced distribu-
NJ ravmerts passed altogether.
j -...rs action was more useful yes
49, f,r the bulls than the announce
100 80 4 week ago had been Tor the
~. Not only was II reassuring as
.'-,,i, Central, but for a time II gave
= e,timists on Pennsylvania q back
= q fresh confidence.
/ killing Santa Claus.
q p, ucsnt ruling the Federal Re-
,s-ys Board has put the national banks
4 n.hu delicate position. Some
~ .,sn. uho had read the reserve law,
~, afraid that If they authorized the
--,i rbrstmGs bonuses 20 employees
tsv Ee.!d make themselves liable 10
--.,,-srt for violating the clause
i rsbt.ng "any officer, emplOye, etc,
n ,o- beng the beneficiary Of any gift
I, o,fsr consideration in connection
1 h sry business of the bank" The
I G.,srs Board told the banks that they
.-9 no. be protected by its ruling
A vr prosecution. but that in the
4 sr6s opinion the distributions were
Il richt provided they constituted
4 mar part Of the compensation of
--isyss and were distinctly under
q ,s &C such IL the bonuses, then,
H. Christmas presents, they are illegal
4 Id cam with them fine OF $4,000
riyssrs term in prison, OF both. If
tg ars merely q part of salary, the
a liz role Of Santa Claus disappears.
LOndon's ReOpening.
Neither in London nor here do they
-,sc TIE reopening Of the London
..k Exchange on January 4 20 pro-
& much additional activity in the
q sfke, for Americans. Whether or
a ne London markets difficulties are
Afss.sr than those which had 20 be
n 3 hre az least it has one with
Et;t New York did not have 20 deal.
here rs q great number Of brokers
1 I'D bakers in the English metropolis
L., afs a. heart German or whose
| ,rM sfhstions are OF such long
A wTl that they are di,inc.ined 70
8I lhsm. To prevent trading for
1 %, Enemy through their c0nnivance
II tNDa "a N4lNI" ..NeF ANAc aNaaH " AAAA
iernaas and Austrians are less easily
'ec7sfzb.e will be q big task. The
81, precautions that have been taken
-pose limits on activity that come
~ 70 providing a s,raitjacket for
4 s market
n Railroads Hard Lot.
Compilations Of the weekly gross
inngs o. thirty typical railroads,
iis BY the wall Street Journal"
's ina. in only three Of as weeks
a'-.sied in 1914 have the roads re-
red Increases over the corresponding
''ss Of 1913. Until the end of Sep
slo'f there were only TWO weeks in
i.1 ne decreases were more than
PEI cent; but beginning with the
.''ld week Of October the decreases
ave been consistently IN two-fgure
'.sni1ges, and latteriy the falling
aai hao % be superimposed on the
IN o. decreases that marked the
Z