New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-29
REVIEW OF The
STOCK MARKET
Profit Taking Causes Small
Declines on Profit
Taking Sales.

TIL. market fell back into quiet yea
terday and prices sagged. until at ths
close active issues were fraction
lower. Profit-taking before the APP
preaching holiday was responsible TOT
loss Of part Of Wednesdays improve
ment. and too many uncertain market
factors persist to encourage any great
amount Of new business. Only ABOUT
100. 900 shares changed hands on the
day, but trading was continuous with
out the period of absolute stagnation
that had marked the course of business
earlier in the week. Transactions IN
bonds were even less in volume than
on Wednesday, but covered wide list.
A conciliatory address by President
Wilson to business men in washington
telling Of his desire to aid in revivinS
commercial prosperity of the country
and reiterating that pending legislative
remedies were for the ultimate good OF
industry, produced no favorable erect
on the market. Mr.. Wilson's pro-
in the January upturn in securities,
but since then clearer idea has been
obtained as TO what he considers good
for the business world.
Mexican affairs appeared closer 10
some solution. Unofficial summary OF
the conclusions reached at Niagara
Falls seemed such that both Huerta
and the administration at Washington
might accept them without any great
loss of dignity, with possibility that
the victorious Constitutionalists might
be persuaded to agree. The salute, the
technical point on which the break
came, was TO be punctiliously fired,
Huerta, as many Latin-American
rulers have done before him, was to
resign and stand for reelection and
the land problem was to be handled by
the Mexican Congress.
The London market was depressed
by rumors of i'll health of the German
Emperor, and American shares were
irregular and trifle depressed in the
early trading. OF the 10000 shares or
so traded over the arbitrage rail prae-
tically all were sales. Here the open
ing was irregular, small fractional
losses being general Steel, Reading
and Union Pacific at the close were at
their low quotations for the day, frac-
tionally under the final figures OF
Thursday. General Motors broke over
Z points as rapidly as ii had risen the
day before, and closed over 4 points
down. Wells-Fargo responded to an
nouncement of new contracts with
gain of points.
Missouri Pacific, next to Steel the
most active share on the list, advanced
IL points 10 1875, and ended the day
at 1875. Though representatives Of the
interests controlling the road have in
sisted that unless practically all the
note holders take advantage OF the ex-
tension agreement receivership is to
such an outcome seriously. On small
transactions the 40-year 4s improved
IL points and the convertible 5s pa.
Denver improvement IS and refundng
5s also advanced. Announcement was
made that at noon about $500, 900 Of
the $25,O00,0O0 notes due to be turned
in before 3 O'Clock to-day had not yet
been deposited.
From abroad the weekly return Of
the Bank of France showed more than
30O00OoO francs added to It's gold
holdings, but the Bank Of England has
not yet begun to show effect Of it's
takings of new South African gold.
Bullion made only a nominal increase
and the reserve percentage fell from
1880 to 1924, abnormally low for the
time of year. London discounts were
only slightly frmer, however, and for
eign exchange rates here were lower.
demand sterling closing at 4SS35. Only
100000 in gold bars announced for
export.