New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-24
REVIEW OF THE
STOCK MARKET
General Irregular Decline
Gold Exports Resumed
Paris GetsS2.500, 900.

DEPRESSED by difficulties OF the
weaker railroads and by continued
direct selling in this market by the
Continent. securities were heavy yes
terdav and closed irrcgularly lower
London prices came q fraction oeIo"
raritv and the opening here was weak
Losses were extended as the day went
on. traders finding little support Of
fercd against short selling. Despite
lttlc rally IN the middle OF the after
noon declines that reached a point OF
more we're fairly common az the close.
Rock Island bonds were again heaV-
ilv sold and the bond market as
whole was a shade easier. New Haven
shares continued firm IN face OF ming
81 the Federal suit for dissolution, al
vancing ever point and closing WIN
d fractional net gain. Inc beHcl is
gaining ground that court decision on
the New Ravens rights 10 ITS SuOsI-
diaries will prove IN the long run
faircr than any agreement that could
he reached with the Department oil
Justice. Certainly. the directors nave
shown that the charge Of bad 1allh
made BY federal authorities m the
Boston & Maine matter was I'M
founded
Rock Island refunding Is broke two
points 10 6Sia though they are a hrSt
mortgage obligation Of railroad sun
solvent. The dcbeuture 5s were
more heavily sold than on Wednes-
dav. and went over points lower
Covering Of speculative snort com
lnitments was responsible Tor SilGh'
recovery in the collateral Is. IL IS
understood that another reorganization
plau for the Rock Island system mas
been outlined. but this was not con
frmcd during market hours ana 'he
impending investigation OF the com
pany may cause modification OF any
Droicctcd readiustment. Southern
Railway. common and preferred was
subject TO considerable pressure ana
proved decidedly weak. Lemgnn Val
lev made q maximum loss OF over
,v.o noiDts Chesapeake & Ohio went
close 10 its low record and Baltimore
& Ohio declined yet further Read
ing and Union Pacific al their lowest
were more than a point flown.
IDdus.rials joined in the decline
Steel shares we're particularly weak
following announcement or reduced
prices for hoops and tin plates, with
continued discussion OF the less hope
fuU opinions Of trade publications.
United States Steel was point down
and Republic Iron and Steel showed
losses of around two points on the
common and preferred.
Abroad. continental markets. were
decidedly weak, with rumors OF steps
toya~G actual hostiHtlcs between Aus
-ria and Servia. London, in addition
was heavy through fear that confer
erces over the Ulster question would
be ineffective. The Bank OF France
resumed gold increases with a gam
ot nearly l2.O0O.O00 francs; and the
Rank OF England added little over
100000 20 its bullion; but the re
serve percentage made only sHght
Improvement from the week before.
London discounts again hardened and
demand sterling here advanced. In
cagemen. was announced Of S2,7OO'OOO
In gold for shipment 10 Paris though
when the former movement ended
about q month ago with total Tor the
year Of some S8OO0O000 IT was eN-
ne.ted that export Of grain to Eu-
rome would intervene before gold snip
rreDts were resumed. Higher money
rates abroad, however, have olscour-
AGED drawing Of finance bills.