New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-19
REVIEW OF THE
STOCK MARKET
Fractional Recovery, with
Business Dull-LoWer
Exchange Rates.

Prices hardened a fraction In yester-
days trading, but dealings were stu
professional and greatly restricted IN
volume Mexican affairs, despite pes
simistic dispatches published, were uis-
regarded. A crisis has long been near
in the attempt at settling the DIM
cultjes OF our Southern neighbor
through mediation, and beyond noting
that a triumph Of Villa over Carranza
might mean that the Constitutionalists
would be more ready TO accept any plan
of settlement offered by this country
traders ignored the whole subject yes
terday. The volume of business fell of
to a total of around $1,000 shares, with
the most Of trading in the first and
last hours. At the close recoveries OF
fractions were general.
The advanced rate case continued a
general topic of discussion, but at
tempts TO guess when the decision
would BE handed down and what 1t
might contain found no support in
movements Of the market. Some OF the
attempted forecasts that follow the line
Of discussion when the case was argued
at washington may we'll represent to
some degree what the commission will
finally determine, but as yet there APP
pears no ground for suspecting any
leak Of the results Of the commissions
deliberations.
Securities that showed weakness on
Wednesday generally made up a frac-
ton Of their loss in yesterdays mar
ket. Among these were American
Smelling and Refining, Southern Pa
cific, Western Union, Mexican Petro-
leum and other oil shares. Missouri
Pacific was dull and Jagged behind the
rest, and Great Northern preferred was
a shade lower at the close. Northern
Pacific finished a point higher. Union
Pacific, after advancing point, closed
with a net gain Of e.
In expectation Of some final agree
ment arising from the continued con-
ferences over Rock Island affairs, the
debenture 5s Of the underlying railway,
which did not appear on the tape at all
on Wednesday, were heavily traded In,
making a maximum gain Of over 3
points on transactions involving bonds
to the par value Of around 100000.
The refundng IS gained over a point
and the collateral As Of the railroad
improved a fraction. Rock Island
common, however, was quiet, closing
- of a point lower at 25S, close to its
lowest level.
On small transactions Chicago &
Indiana Coal Railway is broke 20
points to 81. because of an expected
default Of interest. On Tuesday they
had changed hands at SO. Chicago
Great Western preferred went to new
high record for the year on reports Of
Canadian buying to strengthen the ru-
NOR of an agreement with the Grand
Trunk. International Pump preferred
declined nearly points from the last
previous transaction.
The London market closed strong fol-
towing the favorable return by the
Bank, and some 5000 shares were
bought in this market for foreign ac-
count. Last weeks improvement of
the Bank of England was bettered with
a gain Of more than 5 points in the re-
serve percentage and an increase OF
more than 100000 in bullion. the
greatest since early in January. The
Bank of France added some 81 100000
francs to its gold, with more on the sea
from this country.
Engagement of gold for export was
resumed yesterday 100000 in coin
and 100000 in bars to go to Paris and
$35O,0O0 in coin for London, making
nearly $6S,OO0.OOO this year. Exchange
rates continued their reactionary move
ment. spectators being emboldened to
sell exchange because Of the near ap-
proach of crop exports. Demand ster-
ling ended the day at 4.SS25 to 1880.
A weaker tendency appeared in time ac-
commodation, but call loans again re-
newed at per cent.