South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-05-26
MONDAY MARKET
UNUSUALLY DULL
Union Pacific and Steel Crowd
Have Little to DO-Four
Millions in Gold Reported
Engaged For Export.
BY BROADAN WALL.

NEW YORK, May 26.-For a Mon
day the market was unusually dull.
There was no trade at all in Union
Pacific until a quarter past ten, and
at u O'Clock only 1900 shares had
changed hands.
OF six specialists in the steel crowd
their total business at noon amounted
to less than 200 shares (and these
brokers are only paid at the rate or
81 a hundred).
Total transactions at midday were
only AZ, 600 shares and the early bust
ness on a Monday should represent or
ders for commission houses, and In
this case it represented the absence
of any public interest.
OF news there was a plenty. Gold
TO the extent Of 100000 was en-
gagged for export, and the idle car
surplus as of May 10 reached total
of 23S,642 cars. the largest idle equip
ment at any time since 1900.
These items, however, were offset
by favorable crop news. At st. Louis
il was reported business conditions are
in pretty good shape. Crop prospects
never better. From Nashville the
commissioner Of agriculture states the
outlook is good for one of the largest
wheat crops ever harvested in Ten
nessee. oklahoma is now cutting a
large crop Of wheat and the harvest
should be finished within the next ten
days. Kansas reports prospects Of a
record wheat crop that has already
accelerated trade. The future never
looked roster at this time of the year
From the supreme court at Wash
ington came a decision on the status
of tap lines" Nobody seemed to
know the effect OF the decision. and
for a moment the room traders con-
strued il favorably and bid prices up
fractiOnally, but these gains were lost
and the market settled back into dull
ness.
Baltimore & Ohio was heavy, drop
ping from 90 IL TO 81 ga on fears
that the Cincinnati Hamilton e Day
ton deal would oe dragged before the
interstate commerce commission.
Westinghouse was strong. advancing
from n 1-2 TO rs Ia. This stock
looks promising and the Rumely is
sues were a bright feature in a dull
market with a l 1-2 point gain.
General Motors rose from s4 TO 81
and Bethlehem showed conspicuous
strength with a 1-2-point advance.
Missouri Pacific was active without a
change in price. Further time will
be granted for the deposit Of notes in
the hope that holders will agree TO an
extension and avert a receivership.
Bonds were relatively more active
than stocks. Virginia deferred GER
tihcates moved erratically from 81
TO 63 and back 10 81. Brooklyn Rapid
Transit as were strong. Denver and
Rio Grande SIS dropped 10 a new low
figure and United Railways Of San
Francisco vas heavy. International
Mercantile 4 l-2's opened at so rs.
sold down TO As rs and later ad-
vanced 10 81 SIS.
International business in American
stocks over the rail- was at a standstill
Foreign markets were quiet and dull
with a IA per cent Improvement in
British consuls. Money was in de-
mand at London for the settlement
just beginning. and foreign exchange
was strong with indications OF further
ENGAGEMENTS OF gold.
Rumors were current on the floor
that a decision from the interstate
commerce commission on the eastern
freight rates would be handed down
within the next ten days. While this
may not encourage outside business. a