New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-17
REVIEW OF THE
STOCK MARKET
Late Rally Checks Irregular
Break - Gains and
Losses at Close.

For about -FOUR out or nNe TaunS
hours yesterday tho stock market was
in n state OF disorder and intermittent
weakness. In the middle Of the after
noon there was a rally. which did not
get very r-r. and then in the half hour
or so before the close the whole list
moved up and some OF the best prices
Of the day were scored. Because OF
this late upturn gains and losses were
fairly equally distributed in the days
record
While some Of the specialties seemec
10 be exempt from the depression or
the morning and early afternoon, the
losses I'm the active list were by no
means uniform. certain prominent Is
sues. like New York Central, Lehlgh
Valley. Union Pacific and Steel, being
singled out for attack and showing de-
clines at their lowest figures wholly
disproportiOnate 10 those suffered by
other standard issues. New York
Central. in fact. was carried down TO
n new low record for period Of nearly
forty years. and Lehigh Valley sod
at its lowest since II has been 10
per cent dividend payer. Steel equalled
its previous low OF the year, 51l9
scored early in January. but at that
point opposed a vigorous resistance 10
pressure. and in the late dealings rail-
lied more than a point closing the day
with a gain Of y. Union Pacific and
New York Central each lost r. little
more than Steel gained. and Lehigh
Valley. whose recovery was both small
and belated lost III points on the day.
Amalgamated Copper, while selling
down to 72h in the unsettlement that
reached It's height in the carly after
noon. showed a strong disposition 20
rally from time TO time, and Just before
the close reached its highest price OF
the day. ending with a net gain Of 2,
Of point: New Haven. on what was
characterized as good buying, rose IA,
and Reading and the Hill stocks like
wise advanced.
The successful outcome Of the city
bond sale, while Of no apparent m
fuence on the stock market. helped 70
give firmness 70 the trading in bonds.
Sales Of bonds on the Stock Exchange
were not large IN tho aggregate,
amounting TO less than S25O0.OOO. but
over the counter transactions in the
new city securities. at a price Of TO-. 10
were said TO have been in excess Of
10000, 600. Between S1O,oOOOOO and
S1j000,000 Of the issue, 1t is expected,
will be taken by foreign investors.
The change in the Mexican situation,
is II was understood in the early after
noon, by which a satisfactory con-
cession was agreed upon by Huerta,
probably had some influence on specu-
lative sentiment and assisted IN bring
ing about the rally in the market. but
as q whole Mexican --airs are less q
q factor in stock r-arket changes .han
such purely domestic matters as trust
legislation and railroad rate decisions.
Call loan renewals, at . per cent.
We're slightly higher, but quotations
for time money in the longer periods
were fractlonally lower in the absence
Of any sustained demand. Demand
sterling moved up 10 points and open
market discount rates in London ad-
vanced IS.
The Bank OF England made strong
statement. the reserve percentage NOV
ing UP 10 41.99, as against 4O.34 last
week, but gold holdings increased only
little over 100000. Gold holdings
Of the Bank Of France increased H.
100000 francs and discounts decreased
12O92J,O00