New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-15
REVIEW OF THE
STOCK MARKET
Sharp Price Rise on Heavy
Trading in Last Hour
Big Bond Dealings.

Until the last half hour of business
the stock market displayed the hstless-
ness and irreguiarity which for some
time have been its characteristic ieat-
ures. the chief strength being i'm certain
speCialtics. and apprehension OF radical
recommendations by President Wilson
i'm his message soon 10 he read go Con
eress continuing TO exercise a potent
influence i'm restraining market ac-
tivity As the days trading ap-
preached it's close however, genera
buying movement suddenly developed
the immediate cause for which APP
pearcd TO he a forecast from Washing
ton which presented the antitrust
ideas Of the President TO be urged 10y
him as a basis OF the bills about 10 he
introduced and supported 10y the ad-
ministration's influence rs decidedly
more moderate than had been previ-
ously looked for.
Under spirited buying for the rise
and hasty covering of shorts the entire
list advanced. and the market closed at
the best prices Of the day, with net
gains Of a point or more in Reading
New York Central, st. Paul Chicago
Northwestern, Great Northern. Penn
sylvania and other railway issues, as
we'll as fin United States steel common
and various other industrialS Total
sales were nearly four hundred thou
sand shares, the largest I'm many days.
and of this aggregate almost one-hah
represented the transactions Of the last
half hour I'm the bond department the
sales were almost S3.6OO,o0 par value
another new high record OF activity for.
recent months, and correspondingly ac-
tive over-the-c6unter business was re-
ported by large bond houses.
The largest bond dealings were again
in Chicago. Rock Island e Pacific Rail
road collateral trust As, which rose an
other point. and Rock Island common
and preferred stock advanced each
more than point on the more en-
couraging outlook for the property
under its new and conservative man
agement. The largest stock transac-
tions were in United states Steel com
mon which. after having been under
early pressure advanced IN sympathy
with the general market and also on
the favorable nature of the weekly re
Views of the trade organs. which pro-
nounced the situation in the steel in
dustry to be improving, with produc-
ton slowly increasing and sales ef
fected at rather higher prices than
those recently ruling, and with increas-
ing demand for pig iron from con-
sumers and frmer prices. The three
oil specialties were among the few
stocks which made net declines on the
day.
The money market situation showed
practically no change. The call rate
touched 2is per cent as its high, with
renewals at pa Rates for time ac-
commodatiOn for the several matur-
ties ruled al the low levels Of the prev-
Gus day, and there was good buying OF
commercial paper at rates ranging
from AZ 10 , per cent for the best
names. The foreign exchange market
was easy in the early hours. but later
became firm. the final quotation for de-
mand sterling being 4S6S0q4 $500. No
further engagements Of gold were an
nounced, but it is commonly under
stood that the outward movement Of
the metal TO Paris will soon be resumed
and at least S1OOO0.O00 will be sent to
the French capital within the coming
few weeks.