South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-02-20
RATE DECISION
DELAY DRAWBACK
Disappointment Over An
nounCement is Reflected in
Narrow PriCeS-The might
Have BeenS" Work Overtime
By BROADAN WALL.

NEW YORK, Feb. 90. - Irregular
and narrow movements today with
decreased trading reflected the disap-
pOintment felt over the announce
ment that no decision on the rate case
need be expected before June.
While the firm undertone was
maintained there was little DISPOSE
ton on the part of the bulls to move
the standard issues.
Ice advanced some two points and
General Motors rose four, but neither
is calculated to encourage faith in the
general market.
The king Of indoor sports at pres
ent is dealing in the previous days
prices. OF 100 who follow the fluctu-
auons of the day so will be found
taking mental memoranda Of the
profits that might have been made
had they bought at this figure and
sold at that Much publicity has been
given to Wall street procedure and the
efforts TO encourage optimism have
attracted attention to the stock mar
ket which normally anticipates a re-
turn Of prosperity. There is today an
increased interest in the prices OF
securities. but not to the point where
orders are placed with brokers at
current prices. The disposition now
is 10 await an advance in freight
rates. In the meantime if the public
make up their minds that this is to
be an accomplished fact, stocks will
~ purchased by those who act quick
IS 10 be sold 10 the slower minded
when the news becomes public. The
steadiness characteristic OF the pres
ent situation is no doubt due to the
short interest that has never had an
opportunity to cover at a profit. Cur
rent TumOr credits an international
banker. an active floor trader and a
domestic commission house with hav-
ing q large open account OF the short
side.
steel common was firm and Bethle-
hem Steel issues were strong. These
stocks act we'll. Coppers were in
c}ined to heaNiness. Utah lost a
point and the minor issues declined
fraCti1nally
Selling for Boston account was
noted.
Wabash issues fell to new low
levels in anticipation of heavy as
sessmept and Rock Island shares
scored further declines the common
selling at 8 Is and the preferred at
9 3-S. An assessment would seem in
evitable.
Brooklyn Rapid transit was firm.
the overhead trolley fairinf better
than the companies that oTar.1ted the
underground system during the pres
ent unfavorable local weather condi-
tionS.
Great Northern declined fraction
ally under sales against rights. West
ern Union was barely steady and
Southern Pacific was 'pegged" at 90.
Bonds We're active with heavy trad
ing in New York Central. Lake
Shore -2's advanced sharply. bat
failed TO retain the rise
Trading for London account was
further restricted by the Suspension
Of settlements in Union Pacific for a
month pending the settlement By the
courts Of the right OF Union Pacific
20 distribute its Baltimore * Ohio
holdings.
Foreign markets were dull. Lon
don. Paris and Berlin showed a re-
dictionary tendency and British con-
soils were off 3-S.
In view OF the coming holiday there
is little disposition 10 trade on the
bull side and a majority Of the room
traders have become convinced that
short selling over night is largely IN
prohta5 Die
Steel looks cheap at current figures
and Union Pacific has been good for
small profit If bought or every re-
action