New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-03
REVIEW OF The
STOCK MARKET
Slight, lire gular Gains in
Quiet Day-Cash Flows
to Treasury.

At the close OF a quiet day securities
showed slight irregular improvements.
Operators appeared disincllned TO start
any movement with the approach OF
the holiday on Saturday, and outside
developments were not sufhclent 10
cause any market activity. The total
business Of the day was considerably
under 100, 900 shares. At the opening
small fractional gains were fairly gen
eral, but prices reacted before the
morning was over and then trading
practically ceased, with a little firm
ness in the late afternoon. Abroad,
Continental bourses were somewhat
depressed, but in London investment
issues moved up on buying. credited 70
bringing of dividend disbursements
back to the market. Here some little
better inquiry for state and municipal
issues was reported by bond houses,
hut the demand is still light and as
vet has not broadened TO any extent
so as to include high grade corpora
ton issues.
Overnight news from Washington
had Senators Of the dominant poll
teal party agreed on passage Of
antitrust legislation before ad-
,journment. To Offset this word came
to the financial district that j. =.
Morgan was q visitor at the White
House and had an extended talk with
President Wilson. This was in such
marked contrast with the Presidents
former attitude toward consultation
with representatives of the financial
interests of this city that all kinds OF
hope Of modification of the Presidents
views of business resulted from the
incident. II was announced from
Washington that Mr.. Morgan had
sought the interview, but it was not
believed here that he would have gone
to Washington unless it had been
strongly animated that his presence
was desired. Unconfirmed gossip con-
nected this conference with the UNI
satisfactory bill which The Massachu-
sets Legislature has passed leaving
the state power to take over the Bos-
ton & Maine, which resulted in
new low record on the Stock Exchange
for New Haven shares.
The market for copper metal was a
little firmer yesterday, and Amalga-
mated Copper, with an advance OF ]
point, stood out in the sluggish list
of securities. Sears Roebuck improved
over 9 points and Woolworth was
strong. Standard issues moved in
narrow range, but generally closed
little higher. Bonds were quieter and
generally firm
Mid-year financing resulted in in
creases in loans and circulation OF the
great foreign banks, and the Bank Of
England reported drop of over 7 per
cent in the proportion of its reserve
to liability. Its bullion holdings were
slightly increased, however, and more
higher than year ago. The Bank
Of France showed a gain of over
81. 100000 francs in its gold, largely
made I'D Of last weeks shipments from
this city. The Imperial Bank of Ger
many lost nearly 65,0OO,OOO marks in
gold. -,
Here time accommodation was lit
tie frmer in the longer maturities and
call loans were again made as high
as 211 per cent, with renewals al :.
Since Friday the banks have lost the
unprecedented amount of 21.lll,OOO
on Sub Treasury operations, but cur
rency is still flowing to this centre
from the interior as an Offset TO this
shrinkage and government deposits
here have been increased.
Foreign exchange rates were lower
in the morning, but recovered and
closed fairly steady. An investigation
has been ordered by the Secretary Of
the Treasury into the reported ad-
vance information of the transfer OF
gold to this city from Denver, which,
IL is charged. was responsible for the
short selling that broke exchange rates
some two weeks ago.