The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-05-13
FINANCIAL NEWS
And COMMENT
Dull Day in Stocks, With
Price Level Firmly
Maintained. =,
A BETTER TONE ABROAD
New Haven Notes Sell Rapidly
Mop Affairs Still
Indefinite.
A BETTER TONE ABROAD

After n half hour Of rather feverish
activity following yesterdays opening the
stock market turned very dull and re-
manned torpid to the close. Except for
some special strength and special weak.
ness price changes were trivial. averaging
slight fractional gain. The best quota
tons as rule were made early In the day
and the market did little In consequence,
but maintained Il fairly steady level. The
hrmness Of the share list was perhaps
more impressive than the dulness, but
Wall Street found II somewhat hard to
reconcile itself to tho dismal fattening out
Of business again.
Fluctuations In such stocks as Union
Pacific Amalgamated Copper and United
States Steel were only half a point or
less. New York Central rose quite
strongly and the Rock Island collateral 4
per cent. bonds made further recovery,
which seemed to evince an Improvement
of sentiment respecting the property since
tho modification of the expert estimates
Of its financial needs. There were no
dealings in some issues which are ordi-
narily moderately active. Consolidated
Gas went still lower In response to the
new financing and there was sharp dror
In Western Maryland for which no ex-
PLANTATION was offered. Missouri Pacific
gyrated eccentrically and tho notes due
in June wabbled unsteadily. while the
forty year 4 per cent. bonds were heavy.
Another day Of the same sort Of general
| market inertia would doubtless try Wall
Streets !ncipient disposition toward
optimism. but the aspects OF quoted values
| lend themselves to a hopeful construction
At least II might be conjectured that the
market Is waiting on the Eastern rate
| case decision, with an inclination to antici-
pate "A favorable outcome. this inclination
| being restrained by the uncertainties OF
the Mexican crisis and tempered by the
dubeties OF foreign financial positions.
Tho news from abroad yesterday was
little more cheerful in tone because
very desirable assistance had been ey-
tended to a crippled house of consider
able importance and rallying tendencies
resulted in all the European security mar
kets. Mexican matters looked neither bet
ter nor worse either in foreign or domestic
regard. and 1t is a question II much local
attention was paid to the developments
at Washington in connection with the
pending programme OF legislation for the
extended regulation Of business endeavor.
Missouri Pacific AFFAIRS entered into no
more definite stage and Il was not APP
parent that Wall Street was any too con-
fident Of the success OF the note extern
sion plan as a preliminary to negotia-
tons with bankers for the permanent
financing of the property. An encouraging
item OF information was the rapid sale of
the whole Offering Of S20.000,000 OF one
year . per cent. notes OF the New Haven
at 80. with Indications that the remaining
note issues in the New Haven Operation
We're going very we'll The Government
weather report told OF moderately favor
able conditions In the past week. the ex-
cellent outlook for wheat being on the
whole continued. The feature of the ag-
rcsiltural commodity markets was the
pronounced strength Of cotton.
There was no material change in the
monetary situation. Foreign exchange
eased slightly. but tho expansion OF go
exports by coin shipments WAS generally
expected. Tho fact that Russia obtained
about two-thirds of the new South African
gold i'm London was evidence that the con-
tinental gold demand had not slackened