New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-03-12
REVIEW OF THE
STOCK MARKET
Railroad Shares Weaker in
Dull SessiOn-Sugar
Declines Further.

stocks gradually declined yesterday,
with the industrial list weak in spots.
Little outside interest was manifested
in the market. and trading was re-
stricted i'm volume to about 2OoOo
shares. Bonds, too were less active,
transactions being made i'm little over
81. 900 900 par value. with price changes
in only a few issues.
The London market, while mot ac-
tive, was strong in tone, consols max
ing a good advance. American shares.
however. were heavy. with some sell
ing from this side in the early trading.
London again appeared as a seller IN
this market, disposing Of some lO,occ
shares. The opening here was at
slightly lower prices, and although the
market hardened somewhat in the first
hour prices sagged until afternoon. De-
spite a slight upturn at the close losses
were general at the end Of the day
Some depressing influence was eX-
erted on the general list by the break
in American Sugar on the bad years
report by that company. The decrease
in earnings was worse than had been
anticipated in the decline on the day
before, and q new low record for some
years past, 97'I, was reached. A def
icit Of over 81. OO0, 900 resulted from the
years operations. the net profits avail
able for dividends on the common stock
$3.50. 275) amounting to ISIS per cent,
against 9.64 earned in 1912. To pay
the per cent common dividend sur
plus was reduced over $3,VOOoo. I'm
certainty over the tariff, abnormally
large sugar crops and cutthroat compe-
tition were the reasons given for the
company's bad showing.
Bethlehem Steel and Sloss Sheffield
reported increased earnings for last
year. The common stock OF the former
advanced TO 44a., a gain of over :
points. and the preferred to SO, an in
crease of 4 points. both receding in tho
late trading. Iron and steel trade pub
locations returned disappointing de-
far this month. The United States
Steel Corporation has so per cent OF
ingot capacity active this week, with
five new blast furnaces blown in and
one blown out.
The declaration by Western Union OF
the dividend at the increased rate OF
per cent had been discounted and pro-
duced little market effect. The vote Of
the New York Central directors OF the
regular dividend, however, caused a
rally in that security from SS1. TO 1913,
the closing price being q shade lower,
with one-quarter Of point lost on the
day. Rumely issues were strong on the
report that the proposed extension OF
the company's notes would be made Ell
fective, the common advancing over i
point and the preferred .. Rock ISL
and issues were weak, the preferred
reaching a new low level OF IA. The
collateral AZ weakened further and
closed at 4OA. Denver & Rio Grande
common and preferred were reaction
airy. and the refunding 5s, after reopen
ing at 81, a shade below Tuesdays
close. broke TO So.
Call loans were renewed at per
cent. with ia the low rate for the day.
Time accommodation and mercantile
paper were quiet at the same rates as
on Tuesday. The banks have lost
about 100000 further TO the Sub
Treasury. the loss since Friday being
SO. 7O7 900. Demand sterling closed 20
points higher, at 4S615 to 4.S62O. A
further small importation OF gold from
Canada was reported.