New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-17
REVIEW OF THE
STOCK MARKET
lrregularity in Prices on
Profit Taking Large
Cash Gain by Banks.

The rising market Of the preceding
two DAYS gave way yesterday TO one
of irregularity, with recessions among
several Of the more active stocks
Coming as the change did, after gen
eral inward trend since the first OF
last week. this was not considered an
untoward development. The special
ties were active, and many OF them
showed net gains at the close, Whiie
the market leaders of the preceding
DAYS. in which there was heavy pront
taking. closed fractionally down. The
number OF issues traded in was again
unusually large. over five hundreu
thousand shares were sold. and bonds
70 the par value Of more than S3AoV'-
600. London bought about five thou-
sand shares on balance. In the last
hour Of trading somewhat as on
THURSDAY. a brisk buying movement
caused partial recovery in prices, but
the close was ragged and irregular
Early in the day a report that Euro
mean powers had requested interven-
ton in Mexico had a temporarily de-
pressing influence. \ fiat denial ny
Secretary Bryan probably helped
toward the frmer tone in the late
trading. Toward the close came the
somewhat disquieting news that Al
forney General McReynolds was
Fastening here to confer with local
,.a,resentatives of the Department OF
Justice on the legality Of the proposed
dissolution Of the Atlantic Coast Line
Company. The general opinion mas
been that the Atlantic Coast Line
action was in direct accordance with
government policies.
Amalgamated Copper was heavily
sold. but finished the day with only
small fractional loss. the moral enec'
Of q regular dividend declaration and
the better feeling in the industry, with
bicher prices abroad for the metal
being factors in its resistance to sell
ing pressure. United States Steel rep
resented a large proportion OF Inc
DAVIS transactions, and held up 10
within = Of Thursdays close. Read
ing gave way on large offerings de-
clining Is points American Iele-
phone and Telegraph and western
Union were fractionally lower on the
moor report presented by the latter
company.
The reports from mercantile ageh-
cies on general business conditions
were somewhat encouraglng' Win
signs Of Improvement in the iron ana
steel industries. and, in the East, bet
ter purchases Of coal and drygoods pc
cause of the days Of cold weather.
Bank clearings and railroad earnings
however. continue 10 compare un-
favorably with the 1913 figures
DESPITE the increased scale OF stock
market activity of late the supply CT
money continues liberal Call loans
were renewed yesterday at u. per
cent. comparing with 2ic per cent as
THURSDAYS ruling rate, and time
loans were made At rates prac-
ticallv unchanged. though there was
some slight weakness in the quota
IONS for the longer periods. De-
mand sterling declined further to
d $500 ~ the close, comparing with 4S'
early I'm the week. The forecast OF the
hank statement showed E gain oi
nearly 100000 by the banks from
lie sub-Treasury and a net gain OF
nearly 81 100000 cash from the IN
terror. which should assure a suostan-
tial increase this week in the already
very large surplus reserve and con-
,inuauce for the present of easy money
conditions.