New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-16
REVIEW OF THE
STOCK MARKET
Uncertainty Over Mexico
Produces Irregular Day
of Trading.


lations OF this country with Mexico
yesterday checked the decline In secu"
rity prices. The market opened irregu-
lar and improved on covering by the
short interest. Trading thereafter was
heavy up to noon, when for about half
an hour selling pressure was resumed
and low prices for the day were re-
corded. The market then rallied lit
tIe. but became weak again before the
close. While no general trend OF price
movement developed. net losses were
made by most OF the issues active IN
the trading. Business transacted was
less in volume than on Wednesday,
amounting to a little over 3OV,UOV
shares in a much narrower list. The
bond market was fairly active, with
prices for the more speculative issues
BIT lower. state and city issues were
IN good demand, accounting for about
a third or the days business at harden
ing prices. Doubt as to what might
happen below the Rio Grande had its
effect also on the city bond sale. In
many lnblduCNcr IL Noc ANRpANNN RANo
were lowered and a number Of offers
were held out at the last moment, in
GLIDING at least one all-or-none bid.
The number OF bids. around go. was
rather small. An offer by the syndi-
cate successful at the state bond sale
for all or mono at 101,46 insured the
success OF the issue, Last years sale
Of S46OO0000 AZ per cents. $4,000
900 less and one-fourth Of / per cent
higher, went at the average price OF
only 100.159.
The foreign markets showed their OK
recitation that American Intervention
in Mexico was imminent by dull and
rather heavy trading. There were
practically no dealings in this market
for foreign account, despite Tuesdays
decline IN prices. From Washington
came word that the President consld-
cred affairs so serious that he would
call into constant consultation the
chairmen and ranking Republican
members of the committees on foreign
relations Of the Senate and the House.
Announcement Of the text Of the
antitrust bill that is TO include all the
provisions for carrying out the Presi-
dents programme OF business regula-
ton was received without much inter-
est. Such slight notifications as have
been made were appreciated, particu-
larly the decision against trying TO de-
rne what was prohibited by the Sher-
man act. It was not believed that
labor interests would be satisfied with
the exemption allowing them to carry
out ''the legitimate objects" Of their
associations, as this apparently still
leaves in force the decision in the Dan
bury hatters case against boycott and
blacklist.
News from the iron and steel trade
continued unfavorab le,, with some
slight Improvement in inquiry for steel
material. Wage reductions, while
widely discussed, have been made only
by some of the smaller companies.
United States Steel was under less
pressure than earlier in the week. 1t
lid not go below 577s, the low point Of
Tuesday; rallied to ssh and closed at
58ls, only shade down on the day.
Copper shares were fairly firm, despite
talk Of price cutting in the metal New
Haven advanced to 677s, closing at
6712. Goodrich and Alaska Gold were
firm among the specialties.
Lehigh Valley was the weak feature
Of the afternoon, going to 1417s, more
than 2 points below the high mark OF
the day, and closing at 142, with a net
loss Of III. Union Pacific sold down to
1914 and ended the day with a point
loss at 80. Reading closed at 1884,.
y Of point down. Missouri, Kansas
& Texas preferred lost 212 points on
small transactions. Mexican Petro-
leum showed how varied was the SEN
timent on Mexican difficulties by
jumping to 641h from COZ on a single
transaction and closing at 81, with only
a fractional loss.
Call loans were renewed at IL per
cent and time money was in little de-
mand at the easy rates prevailing.
Since Friday the banks have lost 1851,
600 on Sub-Treasury operations. The
S25O0O,000 public offering Of New
York Central 413s will be made at 95%.
American Telephone and Telegraph an
nounced the issue Of S3O,OO0OOO two
wear per cent notes OF its sI1haidi