New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-21
REVIEW OF THE
STOCK MARKET
Market Closes Generally
Strong, After Receiving
Trust Message.

After the long awaited message Oh
President Wilson had been read, the
stock market. which earlier had been
dull and irregular, halted, receded a
little. and then became fairly strong
and active. The day ended with frac-
tional gains. rather general among the
stocks most dealt in. Particularly was
this true Of the securities Of the rail-
roads. for which the President had eX-
pressed solicltude. pointing out that
their prosperity was inseparabiy con-
nected with the prosperity OF the coun-
try
In the main President Wilson fol-
lowed closely along the lines laid down
in advices that. day by day. have
reached the financial district from
Washington. His expression of the de-
sire of the government and business
men to meet each other half way in
souaring business methods with the
law. and his announcement that the
antagonism between business and the
government was at an end, met the
approval Of the Street. as did the
promise that changes should be as few,
as slight. as easy and as simple as pos
sible.
A new suggestion left with Congress,
was that IT might be wise TO limit the
interlocking stock control If corpora
tions by requiring shareholders to de-
eide in which company they would pre-
fer TO exercise their power of voting.
This possible pursuit Of combination
into the right of individual stockhold-
ings left a rather disturbing impress
sion. 1t was recalled that President
Wilson's Attorney General had empha-
sized this very point when, with his
predecessor Mr.. Wickersham, he was
engaged in the governments suit 10
dissolve the tobacco trust, and many
wondered IL this new doctrine would
be applied to the dsmembered parts of
the Tobacco and Standard OIL COM
panies.
For the rest the recommendations
were practically as previously outlined,
though the provision that the new
Interstate Trade Commission should
furnish publicity as we'll as guidance
was not clearly understood. The rec
ommendation for extending the statute
of limitation for aggrieved competitors
70 date from the end Of successful
antitrust suits and giving them the
right to base civil action on facts and
judgments proved in such suits was
viewed with much uneasiness, as open
ing the way to purposeless and unnec-
essary litigation.
Early in the day the sudden settle
ment Of the strike on the Delaware a.
Hudson was a general topic Of discus
sion. This action was not liked, for,
though trouble for the moment had
been removed, the question underlying
the dispute was still at issue. In view
Of the recent arguments as TO the i'm
portance Of discipline If the safety of
railroad travellers is TO be maintained
and the inability Of the management of
a road to discharge employees it be-
lieves incompetent, as shown in the
case of the Delaware & Hudson,
brought unpleasantly TO mind that, in
addition TO meeting the requirements
Of federal authorities, successful cor
porations have also to face an ever
present labor problem.
Money market conditions continued
to be highly favorable, with the call
rate down to 134 per cent, the lowest
level It has touched this month. with
time money in much larger supply than
demand. Following the news Of an en-
gagement of 100000 more gold for
Paris. the demand sterling rate re-
ceded but finished the day dull and
steady at 10 points below Mondays
close.