South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-05-06
FEW CHANGES IN
MARKET PRICES
Bankers Are Preaching Con-
ServatiSm and Discourage
Activity But Never Hold
Back Prices.
BY BRODAN WALL.

NEW YORK. May 6.-PriceS see
sawed within narrow limits Tuesday.
The undertone Of the stock market
was firm.
No concerted efforts to advance
prices are noticeable. Bankers preach
conservatism and discourage stock
market activity but this attitude
never holds back prices when the
market is ready 10 90 up.
Steel common, which led in volume
OF trading, moved within point. \
well known specialist in this stock
nicknamed THE Dictionary" did not
execute an order during the session. A
fair illustration Of the dullness in the
commission business for his clients
include many we'll known houses.
marlborough Metropolitan prefer
red attracted attention with an ad-
vance 70 63. RumOr credits the COM
pany with funds in the bank TO pay
the promised dividend. The stock
acts we'll and is expected to give a
good account OF itself. The common
was firm and the IL per cent bonds
strong. rising from II Is to II "a.
Missouri Pacific further recovered
20 IA largely on the belief that
Kuhn, Loeb * Co. Will in due time
assume financial control For years
this road has been a thorn in the side
of the market and change Of con-
constructive period.
Although Northern Pacific officials
deny that the company is in serious
need Of funds. the weakness of the
stock indicates new financing on a
basis that VIII endanger the present
dividend. The shares were soft Tues
day. dropping 10 1O9 SIS, while the
rest of the market was firm. RumOrs
Of new stock issue were current but
not generally credited
Union Pacific moved nervOusly,
from 156 II at the opening until the
price dropped 20 155 "a, recovered TO
157, falling a point near the close.
Recognized as a leader. such varia-
tons in quotations puzzle the public
and confuse the floor trader, repeated
" whipsawed in efforts to catch the
tendency.
Amalgamated Copper was dull and
easier. Utah strong with a "a gain.
Industriais reflected a lack of specu-
lative interest.
Street opinion pretty well agrees
that the market has had a normal
recovery from the low point and that
liquidation is over. No great anxiety
IS felt regarding the Mexican sitUa-
ton as a market influence The gov
eminent crop report Thursday is ex-
pected TO be unusually favorable but
on the most important point, the
question of increased freight rates.
there Is 81 divergence of opinion, the
bears contending that a favorable
decision has been largely discounted
by the recent recovery in prices
Against this the Optimists hold that
manufacturing business would re-
reive a quick stimulus, equipment or
ders booked. and rails ordered should
the full five per cent increase be
granted the eastern roads.
New York Central has again re-
sorted TO a sale of short term notes
The placing of S2O.OOO,OOO one-year
notes in London and Paris was an
nOunced. Terms are not mentioned. a
wise procedure 10 save the feelings
of New York Central stockholders.
Government tours sold on the stock
exchange at los Is, a decline of is
from previous sale in April
Exchange was firm. indicating fur
ther gold exports. Dizziness ruled at
London Consols were lower and
dealings in our stocks at a minimum