New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-24
REVIEW OF THE
STOCK MARKET
Weakness at the Close
Selling for Foreign
Account Greater.

securities ClOseO weak ytSltrun'
after holding fairly firm throughout
the greater part Of the day. Foreign
selling, Influenced by the Mexican
crisis. amounted to around 10000
shares. Rumors and reports or
developments from the scene OF hos
Titles continued and caused selling
pressure on special issues. Market
leaders ended the day with net losses
Of from II to over a point, though some
OF the less active shares made small
gains. The bond market was quieter,
prices moving in narrow range with
state and city obligations a shade
easier. There were transactions IN
United States Panama IS at lOZ1I, one
half Of q point up from the last sale
on the exchange. and in the registered
Is at 81, / point decline. Bid prices on
government bonds were lower.
Canadian Pacific was under further
pressure. at times being the most ac-
lively dealt in issue on the list. De-
spite a reassuring interview from its
president &c had declined over point
in the London market when trading
began here and heavy liquidation In
this market came from sources ident-
fed with foreign holders. Opening at
1851, a fraction off. the stock sold
down TO 104 in the morning and rallied
20 1865 IN the early afternoon. but de-
clined to 1888 in the late trading. clos
ing 81 higher. with net loss OF 25s.
The Mexican situation. despite Of
fcial denials, approached more nearly
active warfare With the republic TO the
south. Carranzas defiance Of tho
United States was supplemented by
report that Zapata, rebel leader in the
south. had declared war against this
country. The Constitutionalist's leader,
villa. was. according 10 one rumor,
waiting TO cross the border 20 attack
FL Paso and arms intended for his
men were seized by American authori-
ties. The American Smelling and Re-
filming Company announced that II had
closed down its works in Mexico and
ordered its employees 10 return TO this
country Its stock broke 5l2 points 10
coz on the news. Mexican Petroleum
also broke. selling down 4 points to
COZ.
New Haven was steady throughout
the day. and only a small fraction off
al the close. 1t was learned that
syndicate had taken 100000 notes
Of the New Haven and It's subsidiaries
$4,000 600 TO run one year al . per
cent. and S2O.0000O0 three years at 9
per cent This Will provide the COM
pany with funds above requirements
of the $54, 100000 IN notes maturing in
the next few months. The plan TO trus-
tee treasury assets was abandoned be-
cause IT was found to be contrary TO
certain contracts and state statutes.
Announcement of idle cars on April
10 showed great increase Of over
1900 to Of, SEQ. This approaches
within about 1000 Of the high figure
OF the middle Of January, and is nearly
four times the total of side tracked
equipment OF year ago Box car sur
plus increased in practically every sec
ton OF the country.
The weekly return OF the Bank Of
England again showed some increase
in strength. over 100000 was added
to bullion holdings, other securi-
ties diminished more than 100000,
and the proportion Of reserve 10
liability increased TO 1852 from 4l.99
the week before. Both the reserve and
bullion holdings are, howcver decided
~ low for the season. Tie Bank Of
France made q gain OF around 1000
600 francs I'm gold. only about one-half
that Of the two preceding weeks. Cir
culation was contracted nearly H.
100000 francs. and discounts and ad-
vances over 100000.
Time accommodation here continued
firm at unchanged rates. Call loans
were again renewed at IL. per cent
Demand sterling. with further harden