New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-04
REVIEW OF THE
STOCK MARKET
Strength at the Close, with
a Late Burst of Active
Buying.

On covering Of short commitments
by professional traders after Tuesdays
decline the market yesterday made up
in great measure the ground lost in the
day before. Little or no outside selling
was induced by the previous weakness
and no further adverse news came TO
the market 10 check the recovery. Sc
curities ended the session strong in a
burst Of activity that produced the live
Hest trading for some time. The high
est levels Of the day were reached
around the close, and net gains Of a
point or so were fairly general. For
eign buying, though to small amount.
contributed to the better sentiment.
The volume of trading in shares was
smaller, but bonds were more active,
the total Of over S2,5OO.O00 being well
above the average for the last ten
days.
An interview from President Ripley
OF the Atchison on the good crop out
look in the West played considerable
part in the late upturn. Atchison did
not appear on the tape until the after
noon, and then advanced over a point
and a half, and the bonds showed late
strength. President Ripley, who has
a reputation for being rather slow to
forecast good business, said the West
ern outlook for crops was never better
at this time and insisted that funda-
mental conditions in the Southwest
were sound he pointed out that there
was plenty Of time between now and
harvest for the Texas cotton crop TO
overcome the effect of the prevailing
oversupply Of moisture.
New Haven was particularly strong
In the late upturn, and closed nearly
points higher. April earnings showed a
gross loss converted into q gain in net,
the road making q good comparison for
the month with other great Eastern sys-
TENS. It's gross was some 3 per cent
lower than in 1913 but the net increased
over 0 per cent. New York Central lost
more than s per cent in gross and p
per cent in net, and the Pennsylvania
system lost over per cent in gross
and gained 81 in net, but April main
tenance charges were unusually heavy
on the Pennsylvania lines in 1913 be-
cause of the spring floods
The market opened steady following
irregularity in London and improved
slightly through the morning. A little
buying movement around noon was
shortlived, but the Improvement was
maintained. and in the last fifteen min
utes Of trading the advance was brisk.
| Closing prices were the best of the day
or only a shade lower.
Steel was inclined to lag in the trad
ing and was less active than Reading.
At no time during the session, however.
did 1t fall below Tuesdays closing hg-
ure OF 80 and the final transaction was
y of point higher. Reading gained
a point, and Union Pacific moved I'D q
point just before the close. Copper
gained only little over u Of a point.
reports of price concessions in the
metal persisting.
Leh1gh Valley was under considera-
bic pressure in the forenoon, declining
points, but made up the greater part
OF this loss before the close. Missouri
Pacific was comparatively oulet.
American Telephone and Telegraph adj
vanced point and the convertible 41hs
also improved. Wells Fargo made a
further gain of 8 points to par and
Montana Power was unusually activs
with a gain Of ~ points.
Money rates here were easy. London
discounts were steady and EXCHANGE
rates here, after a little early weak
ness recovered, demand sterling end
ing the day unchanged.