New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-04
REVIEW OF THE
STOCK MARKET
Dull and Uncertain Trading
Declines in an Irreg-
ular Close.


ting back TO normal after demoraliza-
ton by the storm. wire trouble con-
tinued. and business on the Stock Tx
change yesterday was again In smaii
volume and almost wholly professional.
Less than 125,OOO shares changed
hands during the day. Continued sell
ing for foreign account was, however,
better absorbed, and prices at the close
while irregular, were only slightly be-
low those Of Monday.
Lord Grey's statement Of Great Brit
aims waiting attitude in the Benton
case in some measure relieved the ten
sion over the Mexican situation. Early
prices for American securities in Lon
don declined and stocks opened heavy
and irregular here, with general small
losses. AS the day advanced an up
ward movement appeared that died
away into dulness after midday. A
slight recession in the afternoon ended
on covering operations and prices hard
ened toward the close. There was 1T
tie interest either in buying or selling.
Ssuch standard securities as ST. Paul
and Louisville & Nashville were not
dealt IN all day.
The official return Of the New Haven
to the Interstate Commerce Commits
sion, with decreases Of $4,000 In
gross and S352.OO in net, while I'M
officially published, was made the occa-
sion OF drive that sent the stock
down TO the new low record Of 6oh
one eighth below the previous low
mark. set last December when the divi-
dend was passed. New York Central
held unchanged. Canadian Pacific was
reactlonary, declining ~ points on for
eign weakness. A cut in the price OF
copper metal resulted in only frac-
tional declines in copper stocks, trust
that the reduced prices might mean
better selling preventing any great re-
cession. Though no confirmation was
had Of the report of the liquidation Of
the United States Express Company,
express stocks were strong. Adams
gained points and Wells-Fargo over 3.
st. Paul and Missouri Pacific re
turned small increases in net for Jan
uary. Tariff readjustment and labor
troubles appeared in the deficit OF
nearly S40OO,O00 shown by the Amerl
can Wooden Company for the year
ended December 81, 1913. The Ameri-
can Bank Note Company reflected the
unfavorable year in the financial dis
trict in q decrease Of over S275O00 in
profits for 1918. The NJ. Rumely Com
pany. which failed to pay the 100000
interest on its S1O,OOO,OO0 note issue,
due on Monday, announced that II the
notes could be extended to March 1,
1918, It's bankers would furnish funds
to meet the company's present financial
needs. The Erie's three-year 51a per
cents were oversubscribed. Announce
ment of a 100000 900 issue Of per
cent notes by the Chesapeake & Ohio is
expected.
London lost TO India and the Con-
tinent 100000 South African gold.
The return of the Imperial Bank Of
Germany showed a material loss in
strength since the week before Gold
shrank over 100000 marks, notes in
circulation increased 219OO0,00O, and,
with decrease Of over 131 100000 in
deposits. loans and discounts grew
141 100000.
Despite losses in cash and surplus re-
serve here shown in the weekly bank
statements, decreased demand for
money due to lessend activity in the
markets kept money rates practically
unchanged. beyond a slight increase on
time loans for the shorter maturities
Since Friday the banks have lost to
the Sub-Treasury S3,410.00O. Demand
sterling continued its gradual advance