Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-03-17
MARKET IS ALARMED PRICES GROW firm
London Note limiting at Crisis Stocks Show Strong Under
Checks Upward Movement. tone Despite Bad "NeWs"
INTIMATES SOME DANGER MYSTERY IN LEADERSHIP
Supposed Deal With Relations Some Attribute Daily Manifestations
Between Russia and Austria Entirely to Manipulation.
SHARES VERY WEAK HERE FEAR PROVES UNFoUNDED
Awful Things
Tendency in Downward Fail to Eventuate as
Direction. Grow Stronger.
London Note, limiting at Crisis,
Checks Upward Movement.
INTIMATES SOME DANGER
Supposed to Deal With Relations
Between Russia and Austria.
SHARES VERY WEAK HERE
Nearly the Whole Active List Shows
Tendency in Downward
Direction.

NEW YOK, March 16-An alarmist
note from London, limiting at some grave
International crisis, probably was respon-
sible for the arrest in the upward move
ment of our stock market today. This
note intimated some danger to the peace
OF Europe, and was supposed to deal
more directly with relations between Rus
STA and Austria. Local bankers with in
fluential foreign connections protested ig-
norance on the subject, but freely ad-
mitted that political and Industrial con-
ditions in England an on the continent
are not altogether hopeful at this time.
Abandonment by the British court Of pro-
posed visits to the continent bore directly
upon this situation.
American securities were distinctly
weak in London, where a further slump
in various industrials was witnessed. The
speculative account in that market, eS-
pecially in mining shares, clearly Is much
reached the gilt-edged railway issues.
Opening prices here recorded one point
losses in Atchison, Southern Pacific,
Amalgamated Copper and Anaconda Cop
per. Later Erie common, United States
Steel and other recently active issues de-
clined abruptly, while Illinois Central fell
three points on doubts IL the dividend
would be maintained.
Only Slight Recovery.
There was some recovery from the early
decline, but this was followed by another
selling movement, with increased activ-
ity. In fact, such energy as the list
displayed during today's. brief session
was altogether at the expense Of prices.
Today's low level obliterated q large
part of the weeks gains, and in some
cases all advantage was lost. LOw-priced
railway issues and minor industrials were
relatively stronger than standard stocks.
Among these was Missouri Pacific, which
added to it's rise Of the preceding day. A
few other issues Of lesser grade also held
firm, but as a rule closing prices indicat-
ed further weakness.
The bank statement was interesting
chiefly for an actual decrease in loans,
instead of the increase which was look
ed for because of the greater activity in
stocks. The cash loss was little over
81, 500 600 and reserves increased by about
$500 coo. This marked the first increase
in about two months, and puts cash re-
serves at substantially $17.OOO,OOO as
against $41, 100000 in the early part of
February.
The bond market today was irregular.
in keeping with the movement in securf-
ties. Total sales, par value. were ST.
261, 900.
United States registered Is and the As
advanced ~ per cent, and the Is coupon
" per cent on call during the week.