New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-02
REVIEW OF THE
STOCK MARKET
Upturn Near Close Makes
Up an Early Loss-City
Loan at AZ Per Cent.


firm. with q number of slight advances.
These were lost on early pressure, and
with little hardening around noon
the market dragged heavy until near
the close, when slight upturn. led by
the railroads. brought prices to around
Tuesdays final figures. with many
fractional gains. There was no general
selling OF the list, but weakness ap-
peared in spots. The bond market con-
tinued 10 broaden as the week adj
vanced. Yesterday business OF over
S3,OO0,00 par value was done at prices
generally higher, and good bond busi-
ness over the counter was reported.
The better demand for high grade
bonds was shown by the announcement
that the CITY of New York would offer
in two weeks S650O0,000 of b0-year
corporate stock at Az per cent. The
last city issue, in May, 1918. was of
$40. 100000 AZ per cents. which were
disposed Of with some difficulty at a
price that made the city borrow on the
high basis of around 4.49. Since New
York States successful sale Of SOL 00O.-
600 Az per cents at 108,077 in January.
money has been in abundance for high
grade state and municipal bonds, and
Philadelphia and Chicago have in the
last few days made loans on very IA
vorable terms
Discouraging news was contained in
reports Of the earnings OF the New
York Central and Pennsylvania for
February, which make alarming COM
parsons with those Of the year before.
far from wholly accounted for by snow
this year and unusually good business
last. Pennsylvania lost 19 per cent in
gross and almost 10 per cent in net.
CentraPs gross decrease was 10 per
cent and the net g. In Washington
the Eastern roads continued to present
the account Of their needs before the
Interstate Commerce Commission. lay
ing some emphasis on the competition
they were forced TO meet for new cap
ital.
Iron and steel trade publications call
attention TO the heavy reduction OF
railroad train. shop and track forces.
Finished material shows a tendency
toward lower prices, and the pig iron
markets are nearly at a standstill.
Copper figures continue encouraging.
Exports Of copper during the month
were nearly $4,000 tons, more than
1000 tons greater than In March last
year. London fortnightly statistics give
stocks decreased 476 tons and visible
supply 626 tons lower, Copper shares
were strong in London and In this mar
ket.
Missouri Pacific was again strong and
active. leading the railroads In number
Of shares dealt In. though no conirma-
ton OF the rumor that control OF the
road had shifted reached the stock
market It advanced to 27H. closing at
the high mark with gain Of Ia points.
Denver & Rio Grande went UP points
20 10, closing at 14ts, and the preferred
to 26, closing at 25a4. a gain OF a point.
Studebaker lost part Of its recent adj
vance. Norfolk Southern on small
transactions went TO 30, up points.
Rock Island as were heavily sold to a
new low record of 3611.
Ease In monetary conditions pre-
vailed. Call loans again renewed at 2
per cent, and time rates were easy. In
spite of favorable conditions little mer-
camille paper was offered. Sterling ex-
change weakened with the require
ments OF the months end passed and
London discounts lower The banks
since Friday lost S2,97O.OOO to the
Clearing House. Receipts Of 100000
gold brought the total import from
Canada to over 100000 since
March !.