New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-10
REVIEW OF THE
STOCK MARKET
Reactionary Tendency Still
ContinueS-Steel Under
Heavy Pressure.


dav became more pronounced in the
sacur,ties market yesterday. STOCKS
continued weak all day, with only
slight hardening AZ tho end cauSeu
nv closing out OF professional commit
ments before the holiday. The voiun'e
., trading. about 10000 shares was
considerably increased and rather
heavy pressure developed against par
t,cular securities. Price movement
On the bond market, apart from heaF'-
ness I'm the more speculative ISSUES
was narrow. The list remained is"t!
broad and some demand for high Sraoe
issues persisted.
cteel was heavily sold. accounting
FOR about one-quarter OF the business
on the floor. The deficit in LacAa-
wanna SteeTs quarterly report lore
caats or wage reductions by trade PUBL
cations and expectation Of largely de-
creased tonnage in to-day's statement
NJ untitled orders were all arguments
for selling Steel. It sold down 10 ol's'
no,nt below the final figure Of the
dav before and the lowest Of the pres
ent movement. and closed only "
higher.
Canadian Pacific was again unusual
" active. OPENING at a slight adj
vance, II declined largely on pressure
from Montreal to 1885, rallying 10
1891. at the end Of the day, net loss
Of 3. Of q point. Copper shares con-
tjnued heavy. Amalgamated on rather
heavy sales went down Is, closing at
the low mark. New Haven, with pre-
dictions OF poor report for the month
OF February, sold down to 671A, l%s on.
rallying J. in the Anal dealings. Re-
newed discussion OF the possibility OF
passing the dividend on Missouri. Kan
sas and Texas depressed the preferred
70 1914. a loss of over points, and the
common over . points, TO 14S+.
Rumely shares showed pronounced
weakness, the common declining IN
points TO S1h, the preferred 4 to 2Sh'
Rock Island issues continued 10 seek
new low records, the common at ., the
preferred at 8, and the collateral as
at 1884,. Great Northern preferred and
the Ore certificates each lost over
point. Reading resisted considerable
pressure, closing only shade down.
With Lehigh Valley, which finished the
day unchanged, It was probably sus-
tanned by the court victory Of the
Iackawanna in the federal coal case.
Union Pacific. too. stood up under some
pressure and finished the day I'M
changed.
Returns Of the Banks OF France and
Germany showed the usual improve
ment after the first OF April financing
had been disposed OF. The Bank Uf
France gained over 100000 francs
In gold. decreased its circulation over
100000, and lowered discounts and
advances 100000. The Bank Of
Germany added over 100000 marks
to its gold, contracted its loans and
discounts 237 1000, 900 and reduced its
notes in circulation 21000O,000 marks.
In London, however, the Bank Of Eng
land continued 10 lose gold. Its bull
lion holdings were diminished nearly
5000, 000 and the proportion OF re-
serve 10 liability, 1924 per cent,
against Alb last week, was again low
for the season. Bullion holdings, at
SCOOPS, 143, are now tho lowest for
this time since 1910. The rate Of dts
count remained per cent. Open mar
ket discounts, however, were firm, and
sterling exchange here hardened, de-
mand sterling advancing 70 4.S670.
Call loans were renewed until Mon
day at per cent. Estimates from
known movements Of currency gave q
cash gain by the banks OF around ST.
10000, with net gain from the in
terror of about 100000, 100000 in
gold received from Canada, and a
loss on Bub-Treasury transactions Of
! S4b50, 900.