New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-19
REVIEW OF THE
STOCK MARKET
Small Advances at Opening
Lost in Dull Trading
Gold from Canada.

Following an opening with prices
fractionally higher than Tuesday s
close. trading soon became dull with
little movement save in special in
stances. The day ended irrcgularly,
The more active stocks being slightly
lower
London trading in this market fell
away. with buying orders somewhat
outbalancing the sales. Steel was
under considerable pressure, rumor.
apparently without foundation, being
circulated that the corporation had
been fined S12.OO0OOo for accepting re
bates from railroads. Charges OF re
batting practices, originating in Ter
tile source Of Wall Street rumors'
failed Of proof in Washington some
weeks ago Rather pcssimistic reports
bv trade reviews Of the iron and steel
industry also had some depressing in
nucnce Better buying i'm April is said
to he necessary if mill operations are
to continue at the present scale for
more than a few weeks, and prices Of
plate and structural metal are only
being shaded. steel, however failed
10 go below go, and closed at 81, only
a down on the day.
Lehigh Valley. following the an
nouncement Of the regular dividend.
sold up to 147ia, but shortly after fell
off to i44s. on rumors Of an impending
federal suit under the sherman anti
trust law to force segregation Of its
coal properties Colorado & Southern
first preferred broke > points TO 4o'2
and the common ~ points TO 2ol2
when the announcement was made
that the dividend on the preferred
stocks would he passed. Despite the
tie-up of Colorado coal lines by the
strike. the company's report for the
seven months ended December 81 had
shown surplus available for dividends
sufficient for the usual payment at the
rate Of { per cent on the first and sec
ond preferred. but the margin was con
sidcrod too small
Rock Island issues were weak. The
collateral As. heavily sold, broke 10
37as. the debenture rs to CSC and the
preferred stock to 62s, all new low rec
ords. Copper stocks were fractiOnany
higher following slight hardening in
the price of metal Missouri, Kansas
& Texas preferred opened strong, with
an advance marking up Of nearly :
points. but reacted later. New Haven.
California Petroleum, Canadian Pa
cifc and Peoples Gas also showed
early strength.
The bin for prohibiting improper
holding companies, while without APP
parent market influence. was consid-
cred as rejecting the desire of the adj
ministration 10 avoid further unneces-
sarv disturbances Of trade through
drastic legislation. The test Of legal
itv Of a holding company is 20 be
whether or not il can he used in re-
straint Of competition. The wisdom Of
permitting subsidiaries 10 meet de-
mands of different states and Of for
eign countries IS recognized. and no at
tempt is made TO apply the law 10 com
panios now i'm existence.
The banks have lost to the Sub
Treasury S3G13OoO since Friday.
Money rates Yesterday were un-
changed. though prime mercantile
paper was scarce. Demand sterling
continued firm. Further receipt Of
100000 in gold from Canada made
innovations 100000 this week. Ad
vance news of the return Of the Bank
Of France gave an increase Of over H.
/ OOOOO0 francs in gold holdings, de
spite the suspension Of exports from
I this cOuutrv