New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-28
REVIEW OF THE
STOCK MARKET
Early Recovery on Better
Mexican NeWs-Prices
Weaken at Close.

The more peaceful prospects IN MeN-
tco resulting from the offer or medlat'o''
by Argentina, Brazil and Chill causeu
The short interest TO cover yesterday
or6 The market advanced rapidly TOT
the first fifteen minutes or tradhs'
After hardening again in the early al
ternoon the market weakened towaro
the close. Net gains. however were
general. ranging from n suos'ah'iai
fraction as high as points or iholo
o,none the more active securities. NOT
ou,te 100000 shares changed hands on
the dav The bond market was Gull
and narrow State and city oohos
were a little frner. but for the rest Oh
the issues price movement was uncer-
tain.
Tho London market, with the nrst
chance at the favorable news from
Mexico. advanced American securi-
Ties and was buyer in this market IN
the morning. Amsterdam, too, bought
here direct. The opening here gave
general gains from a point up. Prices
continued fairly firm until around inc
latter part OF the afternoon Wheh
weakness in Canadian Pacific and
Mexican Petroleum and profit taking
by traders who had bought FOR the rise
caused a pretty general decline.
Mexican Petroleun INDUCED IN pyro-
technics. spectacular even for that is-
sue. After closing at 52A on satur-
day. It was bid I'D TO Ga at the open
ing and later went TO 6S. falling of
RAPIDLY in the afternoon 10 81. II points
below the high. and making a net loss
Of IL points. Canadian Pacific, after
advancing over points TO 1872, made
a new low record at 1852 and lost over
2 points on the days business.
Steel with a quarterly report due
tomorrow. was comparatively quiet.
After advancing to 5S1s 1t reacted to
81. closing a shade higher with a net
gain Of q Of point Reading moro
than made up its dividend, but lost
part Of the gain. closing IA points
above the final figure Of Saturday.
Union Pacific and Copper each kept
about a point and half OF their early
advance. ST. Paul. at 9Sia, was 312
points up, and at the close had a net
advance OF 2 points. Colorado Fuel
and Iron at last showed some effect OF
the labor troubles in the mining fields
in a APPOINT drop 10 "a, while President
Wilson appealed to the interests in
control OF the property to aid him in
bringing the strike and its attending
violence 10 an end.
General news was watched With
rather more interest, as the Mexican
situation, for time at least seemed
less critical. The Interstate Commerce
Commission upheld the propriety Of the
New York Centrars S167 100000 issue
OF 4 per cent bonds under mortgage
consolidating the Lake Shore with the
parent road. While the commission
had been investigating the consolida-
ton, as ordered by Senator Norris's
out the plan, over which the commits
sion had no direct jurisdiction. Ar
gument on the freight rate advance
was begun in Washington. the railroads
in their brief taking the ground that
their credit must be improved II rail-
way transportation was to depend upon
the investment Of private capital. II
was pointed out that the decrease in
the power Of money to buy labor and
material since 1895 was equivalent 10
/ a 35 per cent reduction in freight
rates.
With n war loan apparently less I'M
minent and with banks IN the strong
position shown by Saturdays Clearing
House statement. funds for time &C
commodation were offered at slightly
easier rates. Call loans were again
renewed at ~ per cent. In London
discounts were frmer and sterling ex-
change here held steady.