New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-10
STOCK MARKET REVIEW
War in the Balkans Affects
PriceS-Support Given.

kans has given place to actual nos
tilities. AS usual the unexpected hap
pened, and diplomacy did not pre-
vent what Europe had dreaded for
many years Just what the outcome
will be cannot yet be foretold, as news
at such long range and under such
circumstances must be>received with
reserve and confederation OF details
must be awaited. The bourses OF Eu-
rope were sensationally affected as
natural consequence and Continental
selling was continuous in all the In
vestment centres, while London sent a
large volume of selling orders to the
New York market. The effect OF real
war in this market was less compare
lively than the first scare. which &C.
Cured last week. Relatively Few
American securities are held in the dis
tricts Immediately affected by the Bal
kan strife. so there was only a mild
degree OF uneas!ness shown in market
movements on the New York Stock Ex-
change. The opening Of the market
yesterday was active, but prices were
somewhat lower. Selling was not re-
markable; It was more Of scattered
liquidation Of smaller holdings, which
were purchased readily by the stronger
interests. Sentiment among traders
lacked assurance, and the tendency was
toward the downward trend. Stocks
that were offered included both the
standards and specials, but the buyers
represented a good class, and after
raid Of prices near the second hour the
market began to show some recovery.
Around the noon hour war talk was
succeeded by government crop report
gossip. and interest in what changes
would be shown when the report ap-
peared absorbed the attention Of the
traders. In the early afternoon there
was an improvement in prices. and the
feeling expressed was that foreign SELL
ing was about concluded. In the
selling during the periods OF most pro-
nounced pressure there appeared to be
point at which ample support was
given, and from that point the market
would reverse its tendency. United
States Steel presented q supporting
price around 70, and though selling be-
low that figure, the lower quotation
was only fieeting one. Conspicuously
strong. while the market in general
was sliding downward, was Peoples
Gas, which yesterday advanced above
its record price Of Tuesday. Had con-
ditions been normal. or had assurances
Of peace been cabled from abroad,
the appearance of the governments
splendid crop report probably would
have been greeted with the strongest
bull market of the year. The I'M
portance OF the present report to the
United States Is that II Is practically
final and that future calculations and
operations may largely be based on the
showing which the government makes
public. In addition to the unexpected
gain in the indicated crop condition,
compared with last month, the steel
and iron reports Of the day were bub-
bling with enthusiasm. The markets
close reflected to some degree the ex-
cellent crop report, and prices displayed
a better tone and there was a mod
crate activity Of movement. That the
Balkan situation is a delicate one is
universally appreciated and the near
future stock markets action very
largely will be governed by the news
contained in the cable dispatches Of the
progress Of the conflict.