The Washington herald., 1914-07-15
UPS And DOWNS
in N. H. STOCKS
Rises to 81 3-8. Drops Alb
ruptly to 54l-4, and Re
bounds to So.
|. c. c. REPORT NO ISSUE
Expected Decision on U. P. Segrega-
ton Fails and Wall Street Goes
Home Disappointed.
|. C. c. REPORT NO ISSUE

market nunR on the expectation OF q ue-
cision Of the Union Pacific segregation
and Wall Street went home disappointed,
the news on this important question not
appearing until after the close. Union
Pacific won.
New Haven bounced around like a
rubber bali rising to SIS, Dropping
abruptly to 5ri. a new low figure, ard
rebounding TO IS. From the professional
point of the Interstate Commerce
Commissions report is merely matter
Of history, already discounted in the
stock market Perhaps too many traders
were short and their rebuying gave
buoyRncy to the stock. Nothing ever
happens to railroad directors and there
is little expectation that precedent will
be altered in this case. Security holders
pay all the losses and no mistake is
rectified after leaving the window as
they say at the box office.
Foreign Selling Heavy.
the opening and lasted internationally all
shares with the bulk of the dealings in
Canadian Pacific, Steel common and
Amalgamated. At London there was
selling pressure from the Continent and
from New York.
Short covering provided most of the
buying and support Of this nature is
not usually. Of a permanent character.
Union Pacific, at the low point, l5S S-4
al the opening, rose to 155 IA at the
close. Readers Of this column are IA
miliar with the strong position this mar
ket occupies.
Baltimore and Ohio was affected ad-
versely, dropping to IS Il, but recovering
a point later. Canadian Pacific showed
better resistance with a fairly good de-
mand around 1S6
The tail sometimes appears to wag the
dog. Central Leather was the first stock
to advance, rising IS 1-2 to 81 on aggress-
i've buying by Shearson. Hammin &
Co. This stock is a speculative favorite.
Why traders should go short of a stock
selling around 10 always will be a mys-
terry to many. Missouri Pacific recovered
nearly 2 points with the floor traders
bidding against each other. California
petroleum rose nearly points on the
report THAI a new gusher had been open
foreign houses were sellers on every
one-eighth advance
Coal Stocks Rise Easily.
Coal stocks rose easily. Lehigh Valley
gaining 2 points and Reading /. Steel
moved up a point. absorbing all foreign
offers. The recovery in prices extended
~ Alit DDllu HldEhtA new IbIh, west
chester and Boston 41-2s gained points.
Missouri Pacific issues from TO points
and Western Maryland As point.
Wabash refunding As were heavy.
Rains in the Ohio Valley benefiting
growing corn was the favorable feature
Of the government weather report. Re-
ports from the other sections were favor
able with the exception of the cotton
fields in Texas and Oklahoma. prep
aration for the crop moving period.
banks were asking higher rates for time
funds. Local banks have lost some $40
100000 TO the government since Friday.
Sterling exchange was heavy.
Without cooperation from bankers,
and in the absence of market leaders,
professional traders were taking their
cue from the selling by investors for
Until this movement ceases, nothing
more than a traders rally is expected.
The favorable decision from the New
FORK State Court OF Appeals on Union
PaCific's extra distribution should have
a steady influence. The undertone. how
ever, Of the market is more cheerful.