New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-05-09
REVIEW OF THE
STOCK MARKET
Prices at Lower Levels,
with Sharp Declines in
Some Issues.

In the present uncertainty OF trading
the stock market responded more read
fly 10 unfavorable news, such as over
night reports Of a possible break IN
negotiations between this country ana
the ruler Of Mexico. than to the mai
cations Of a record wheat harvest Inc
reactionarv trend was furthered by
liquidation on the London Exchange
details Of federal legislation 70 regulate
railroad financing and uncertainty over
negotiations for meeting the SZo'oVV'-
600 Missouri Pacific notes due the first
of next month. The volume OF trading
however. was a little under 5Oo,op
shares. and the market was dull In the
middle Of the day. Fractional decilnes
were general at the close and some &C
tive issues lost a point or more.
Definite announcement that the
bankers who had under consideration
the taking over Of Missouri PACING
financing had been unable to come 10
an agreement with the interests con-
trolling the road was not received until
after trading hours The stock was
unusually active. something over 3d.
600 shares changing hands. The lowest
point reached 1884. was only about l12
below Thursdays close. and was 112
points above the lowest figure for the
year. At the close the net loss was Is
OF a point.
Chesapeake & Ohio declined further
10 4S7s. the lowest for about five years
and ended the day at 49A, Pa points
down, though directors were reported
as SAYING they saw no reason for re-
ductng the dividend at their next meet
ing. Canadian Pacific was again weak
touching 1884, and closing at 100, with
a loss Of over points. after being
heavily sold for Berlin account here
and in London. Lehigh Valley and
Central each lost a point Union Pacinc
a. and Reading q.
News Of general business that came
to the market was depressing. Copper
stocks were enlarged for the first time
this year. standing some 5,1WOOO
pounds greater on May l than al the
beginning Of the previous month. Pro-
duction increased nearly 6,OOV,ooo
pounds in April. with deliveries railing
off over 13.5O0,000 pounds. Of which
the loss in domestic takings accounted
for nearly 100000 pounds. Exports
Of copper for April continued heavy
but the first week of the present month
has shown a decrease in foreign ship
ment. Idle freight cars the first of the
month reached the high total Of d.
$40. over 5000 more than the fort
night before and almost six times the
amount Of sidetracked equipment at
this time last year. Trade reports,
apart from bettered sentiment arising
from the wonderful crop prospects.
contained little encouragement. Build
ing was reported quiet. and failures,
while under those of the preceding
week. continued greater than for the
corresponding period last year. Weekly
returns Of gross railroad earnings are
somewhat below those Of 1913. but
bank clearings, while a little smaller
than for the same week Of last year,
made practically all the loss in this
city. Reported movements Of currency
show a cash gain by the banks of
around S5,OO0,OOO, with some S4,OOOOOO
gain from the interior, S1,00O,OOO in
gold bars shipped TO Paris and over
81. 500, 900 gain on Sub-Treasury OPP
erations. With prospects Of more idle
money here added 70 firmer London
discounts, demand sterling advanced to
1890 Call loans again renewed at
ia per cent.