New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-02-20
REVIEW OF THE
STOCK MARKET
List Says After Noon on
Dull Trading-Gold
Gains i'm France.

In the absence Of any moving de-
velopmcnts in the days news, business
on the stock Exchange was almost
featureless yesterday, and transactions
totalled less than half OF Wednesdays
volume. Price changes were generally
without significance the exception
being in the case Of some Of the indus
trial specialtios with a relatively small
following. Until well past midday the
market was fairly strong. but the list
sagred thereafter. and at the close the
level was only slightly above tho final
Lowell Of the day before. The bond
market continued firm. as far as the
better grade Of securities was con-
cerncd. but there was a marked falling
off OF interest in the speculative issues
Stocks were firm in the early trading,
Influenced by reiterations Of the state
r1ent that the President had urged the
Interstate Commerce Commission 10
greater haste I'm its dealings with the
railroads demand for an increase in
freight rates. as well as by the implied
promise Of Commissioner Harlan that
a decision would be forthcoming by
June. There was no great amount of
activity. however. Some OF the indus
trial specialties, such as General
Motors shares. common and preferred.
and American Ice securities, were &C
tive at rising prices. but their move
ment was in strong contrast TO that Of
the rest of the list. Stocks of the
American Beet Sugar Company were at
the same time notably weak. but with
out any novel developments TO &C
count for their course.
London prices for Americans were
without inspiration TO bullish activity
here. and London showed little more
disposition than on Wednesday TO make
commitments in this market, transac-
tons for foreign account representing
total Of only about ten thousand
shares, with a balance Of sales. The
Bank Of England's weekly statement
could not be called disappointing, since
the changes were pretty well fore
considerable outflow Of gold. The
statement, in fact, showed a loss Of
81. 100000 in bullion. though the stock
on hand is still far above the showing
in recent years at the corresponding
season Rejecting the position of the
bank there was a fractional rise in dis
counts in London. and consols suffered
further decline Of 81.
The Bank Of France, on the other
hand. showed a gain Of So 200. 900 In its
gold holdings, which, taken with the
course Of open market discounts in
Paris. is expected TO result before long
in a low ering Of the bank rate from
81 per cent 10 3. The banks silver
holdings showed an unimpOrtant de
crease.
In the local market there was no OBJ
servable effect Of an announcement
that engineers and hremen OF seventy
| five Western railroads had framed n
demand for an increase Of 90 per cent
! in wages and a betterment OF working
conditions, though It is almost certain
TO have its influence when the matter
is taken up in formal conference with
/ the railroad managers. The action Of
/ The engineers and fremen had long
/ been rumored and was considered in
eyitable IN view Of the alterations made
in the East last year. which disturbed
long standing dsproportion between
! Eastern and Western wages
The money market was without feat
ure. Call loans were renewed at 1%
per cent, or without change in the rate
Time money was quiet and commercial
paper continued moderately active.