New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-18
REVIEW OF THE
STOCK MARKET
Bank Statement of Heavy
Cash GainS-StOCk
Trading Dull.

! Following days trading uul'
though on a scale fairly large for sat
urday. the bank statement showed an
increase in actual cash conditions much
greater even than had been predicted
| on the actual figures loans increased
| So5. Isl 900. deposits SIS 500 600 and
cash S23.O24.OoO. the result OF the
changes In deposits and cash being an
increase Of S1O922 600 in the surplus
reserve. which now stands at the great
total of S43111.650 These hgures
seem To assure continued ease OF
money for weeks to come. in view OF
the restricted demand for funds Tor IN
dustrial and commercial uses, ana TO
remove any fear Of stringency in the
local money market, even though the
largest estimate Of the amount OF gold
which will be exported on the present
movement be realized.
Little news came TO influence the
course Of stock prices during the day
REPRESENTATIVE Stanley's prominence IN
WASHINGTON dispatches was not greatly
relished. His amendment aimed at re
movng from the Sherman law the tWi-
light zone created by applying the
rule Of reason" is avowedly not an ad-
ministration measure, and it has YET 10
be seen how much influence 1t Will
have on the antitrust legislation TO he
introduced after the Presidents mes
sage is read on Tuesday. His plan 10
take from the Attorney General the
sole right to start antitrust actions
and 10 allow such proceedings to he
begun by any federal district attorney
and at request Of individuals was not
we'll received. 1t was felt that even
though there had been different inter
pretations Of the antitrust law under
each succeeding Attorney General TINS
change would tend to produce separate
constructions of the statute in practi-
cally every jurisdiction. The Ameri-
can Sugar Refining Company is sending
out to its stockholders its reasons for
fighting the governments suit for dis
solution at the same time as the news
comes that the sO-called kodak trust
is about 10 arrange its affairs volun-
tarily so as TO accord with the views Of
the Department of Justice, so the pol
icy of Cancellation is still having its
effect.
Profit taking played a large part in
the days trading. the lessened activity
of which was due TO a natural inclina-
ton to curtai commitments I'm view OF
the nearness of the official announce
ment Of the Presidents opinions, rather
than to any change in the general SEN
timent. Reading, the sales of which
were over 1900 shares, was the most
active stock on the list, closing 4 point
down. United States Steel held firm
on moderate transactions. Canadian
Pacific advanced IL points on large
buying ascribed to foreign orders. The
London market again showed improve
ment following the favorable news
from the scene of labor excitement in
South Africa. but American shares
were irregular there. with some frac-
tiOnal losses.
Sterling exchange was firm and quiet.
Bond transactions continued heavy.
The announcement that several strong
syndicates are preparing TO bid on the
{ new issue of state bonds next week and
! the high price quoted on the curb for
! them when issued was considered d
/ sign Of better market for investment
/ financing.