Salt Lake Tribune | 1914-06-24 | Page 11 | Rate Decision Depressing on New York Stock Market

RATE DECISION DEPRESSING ON NEW YORK STOCK MARKET Commission Houses Close Oul Moldings on Receipt Re-ceipt of Word of Ruling Against the Railroads. Uy I5ROADAN WALL. I'-iy liiternntioiDil News Seivtce. NI-:V YORK, June 23 - P-shlml.sm still situ In tho haddhi, Stucks were rcuctlon-a rcuctlon-a ry and declines j-em-ral today. Let us huvfl the kooi news first. Tho fuilnlnhtly idle car tjtatement showed today the llr;t (J I-crea.se In track equipment Hince the middle, of March. With a new v-hat movement under way Idle cars should b rapidly nl'Muhcd dur-irtg dur-irtg the coming weekn. Kxpectutlon we In Sat unlay ufternoon next for the decision on the eastern freiKht rate (-uestiun The result will no doubt bo mixed, but aaoutd In tho main t bo favorable. Pear i? Mill stroiiR nnd Impe weak-At weak-At 1 o'clock on Monday the Hupn-me cll 1 t ha udeil down a deci s inn t bat api-ar.-ntly added some f ..u 0. 1 p ( u . u u 0 to t be 11 .-i,i:ta of the Soulhc-ni l'adlic. Stocks ruse. 1 Rate Decision Depressing. At 4 o'clock the int'Tmotintalii case was decided in la or of t he. Inters late commerce com m is m on. Thin 1 1 1 st re-t con.-tru. .1 unta oial'ly. Uiin Hi oad way house With ho 1 nt; h;i 1 1 doze 11 pa rt He in and as rnanv prato wires went Into executive execu-tive sessbui mid. d'-cldlni,' that Ihe effect would bt bad, Hdvlhed tho scllln of s toe lis. ot her coiiunls.-iiun b"use.. arri'-tliff arri'-tliff at t he Minirt CiUidu;-l('U. bi ouk'hl a bunch of sellli k or.i.-ri at the opening and the lews of the day heipi-d to depress de-press pri'-os. Contrary to expert opinion on foreicn exch.iti-e. S'i.eiKt.i'tiij ,if yn!d was enj-'aed t.ir shipment to Part. Central Leather direcinrs met and. not tlndln the Block market congenial, failed to place the stuck upon a 4 per c-nt basis, as some had aniicipali-fl. The alue is still mere, iiiiwcvi-r. A demal of the rumor that Cieat Western West-ern p:-!er:id "Uld M"-clv u KUiiantee of di v Mends fi ..m 1 Ira nd T: unk brmiKbt a slnmp ih.at earneu ihe stuck down two points. Canadian Pacific Weak. Canadian Pa' ii'e was v.e.ik, with a decline de-cline f two .ul nls, it nd S 1 'el w .is sold !"-r lorelcn arcuunt. dnippii: behv h2. t.'npper stocks wt-re alvo unur r pressure. Ai:a:oi!..nH U. a "d ft a .1 Cop per, after dlsp'avii:- early strength., lost nearlv une pmnt. Wrstem Pn!"n was heavy, declining to 5TS1. ar.d Pnion Pa':tic 'sip-wed little reist.tn to tic- k-'-ic-i.il t-n dcicv and fell to Tue bulk of trading occurred in S.iuthern P:i !:!.. and fr-'m iiie up-rn:rc price of ;.TS the m,.c,v gradually di if ted to nt tii H.-. r'f-ahr.iirs m bunds f-l! off per cent front M.-r.day total. k Island iss.ies ta.a predmir.a if 1, with wp,.knc.- m the c dhu'.-ral 4s that oirriel th price Pelow SA. Soul hern Pac:,.- cdhiteral i& .vcre n live and fvin around p1-'. Wnll street's fust op'.n.oi: of Important decisions is 9ometi:n-s iadh ally wronc Perhaps the settlement of the inlermoun-taln inlermoun-taln case in favor of the InterM;! trt commerce com-merce coininit-.Hlon will prove, a blessing, although temporarily dlsulned.