New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-11
REVIEW OF THE
STOCK MARKET
Prices Heavy in a Waiting
Market - European
Selling Here.

a waiting market gave little sign Oh
activity Yesterday, save for brief
period of hardening prices in the early
afternoon, when the increase in un-
filed tonnage was published by the
United states Steel Corporation. This
advance. however, was largely lost the
last hour Sales were made of little
over 300 600 shares. Dissemination TO
make commitments in view OF the APP
preaching holiday was probably one OF
the factors in the dull tone OF the
trading. London sold some 10000 to
10000 shares in this market. part or
this selling being ascribed to CONT
mental sources.
Early dealings in American secur1-
ties I'm London resulted in losses or
from }, 10 81 Of a point. the first day OF
the fortnightly settlement. with its OPP
portunity for trading for a while with
ont interest, apparently stimulating the
selling movement. The opening here
was also weak. with general fractional
declines. There was, however, rather
good demand for securities at the lower
quotations. Considerable covering was
done as the day advanced without
much effect on prices
Rock Island issues recovered some
what from their recent declines. being
heavily bought Oh the news that "A re-
ownership had not been considered in
the plan for REIMBURSEMENT Of the sys-
TEN. The shares showed gains OF
about point each on the day, the
common closing at rs and the pre-
ferred at 12L. The collateral IS, on
unusually heavy buying, went TO 46ls
about points above the law price Of
Monday. international Mercantile Ma
rine bonds were sold down to 4I12, but
recovered part Of the loss, closing at
497s. about points down on the day.
American Telephone and Telegraph
was weak I'm the afternoon, closing at
the low figure of 1893, decline OF
over point. Mexican Petroleum lost
part Of the gain made after announce
ment that arms could be exported to
Mexico, closing at II. . points down.
The usual market leaders again showed
little movement. New York Central
stood a fraction higher at the end of
the day.
The Steel Company's report of an in
crease Of 331. 80 tons in untitled ton
mage on hand on January 81 did not
quite meet the expectations OF many
who had been basing their hopes on
reports Of smaller companies not so
dependent on orders for heavy material
from the railroads With the mills
running at reduced capacity last
month it was pointed out that the jan
uary orders must have been much less
than could have been turned out by the
mills at full operation.
The bond market continued active.
with a total OF nearly 100000 in
sales. Proof Of the growing strength
Of the Investment field was given in
the action Of the Treasurer of the State
of Massachusetts in rejecting bids for
the Sc. So, 900 issue Of per cent bonds.
though an all or none offer Of over 104
had been made. The Pennsylvania
Railroad announced another small sale
Of It's bonds. and the Grand Trunk re-
ceived authority at ottawa for a ST.
800 600 issue. Loan f1OtatiOns are also
being considered by the Chesapeake &
Ohio. Baltimore e Ohio and Erie. The
S55. 900 600 Southern Pacific convertible
IS were quoted on the curb when and
if issued" at 1922 to 1895.