New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-01
REVIEW OF THE
STOCK MARKET
Professional Operations
CT use Sharp Recovery
in Active Issues.

Professional operations on the Duy-
ing side Yesterday caused active issues
TO recover from early weakness ana
make a general advance OF some
po.,is from the low prices OF the Day
Desplte some profit taking IN the late
trading final figures were in many IN
stances the best Of the day ana only
fraction below the close OF last lues-
day before the Clafin failure broke the
market. The volume OF tradlng eA-
handed from Mondays record low hg-
nres 10 around 100000 shares, and the
list Of securities traded in was fairly
broad. Bonds, too, were more active,
with recovery among issues that had
shown special weakness the day be-
fore. ,.,
Jews of the day played little part in
this improvement. Word that the AS
sociated Merchants and United Dry
Goods Companies had failed to take
action on dividends came early, as did
the semi-official announcement that the
Cincinnati. Hamilton & Dayton might
he expected to-day to pay interest only
on those bonds directly guaranteed by
The Baltimore & Ohio. The Pere Mar
Cuette bonds guaranteed by the former
road are not so protected. The steps
through which the Baltimore ONO
took control of the Cincinnati, Ham
ilton & Dayton and assumed response
bility for part of it's obligation are at
present under federal investigation.
While no definite announcement
reached the market, it is understood
that the days default will lead to
divorce of the two systems.
Mexican affairs seemed even further
from solution. Overnight reports had
mediators likely TO adjourn without
definite settlement, and 1t was re-
ported during the day that the Con-
stitutionalsts' reply to the suggestion
Of arbitration had been decidedly un-
satisfactory. The tragedy in Austria
was followed by serious disturbances
that emphasized the difficulty of pre-
serving a balance among the different
races that make up that empire. Euro.
pean markets, however, continued
steady and trading in this market for
foreign account was insignificant.
The governments bulletin on crop
weather gave the most encouraging
news of the day. telling of favorable
conditions generally throughout the
country. The wheat harvest is produc-,
ing satisfactory yields, with RAPID
growth of the spring crop. Corn met
IDEAL conditions in the West and North.
Through the southern portion of the
belt it had been severely damaged by
drouth. Lack of moisture is affect
ing the late cotton, though the early
planting is making good growth.
Depressing rumors which had tailed
to affect the market on Monday after
noon sent security prices considerably
lower in the early trading. They
failed to be substantiated, and report
of considerable delay in the rate de-
cision was first denied and then telt TO
be not necessarily discouragng after
all. The recovery was led by South
ern Pacific, but the usual market lead
ers were generally bought and moved
up together as they had not for some
time, showing that the active list had
apparently been oversold. AT the G. ose
Reading. Union Pacific and Lehlgh
Valley had made gains of more than :
noints. and Steel. Southern Pacific,
Conner and st. Paul Of over point.
Rock Island SIS improved, and Wabash
and Frisco refundng As rallied from
their previous decline. Western Mary
land As were reactionary on light trad
ing An odd lot of Chicago. Roci;
Island G. Pacific Railway changed
hands at 33. more than % points be-
low the last previous transaction.
Money continued remarkably easy
for the end of the first six months OF
the wear. Call loans were renewed az
per cent and were not made above
that figure, and time accommodation
was quiet at rates practically un-
changed. In London Paris took the
greater part of the new gold OF the
week. export from New York having
oDnoraptlv ceased