New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-21
STOCK MARKET REVIEW
Sentiment BeariSh and Prices
Generally Lower.

good earnings report by the Baltimore
g. Ohio were ignored by the stock mar
ket yesterday. The increasing strength
exhibited at the closing on Wednesday
was not carried over into prices yester-
day morning and the opening was dull,
with leading issues displaying practi-
cally no change in initial sales and with
a tendency soon afterward to irregu-
larity and lower levels. A few stocks
in their first transactions showed gains.
Canadian Pacific. among the standard
issues. had strong opening, a point in
advance Of its final quotation on Tues
day. In the industrial list pronounced
weakness was in evidence. particularly
the issues which have been brought out
within the last twelve months, and
which during the latter part of 1912
were conspicuously strong, on many
days being the chief support Of the
market. The Linseed stocks. Loose
Wiles Biscuit, Studebaker. May De
partment Stores, Goodrich, Rumely.
Kresge, Woolworth. Sears Roebuck.
American Tobacco, International Her-
vester, Mexican Petroleum and United
States Rubber were all weak and cX-
hibited losses of from / to 3 points al
the close Of the session. American
Lot ~,
around as headed for higher prices. also
showed loss at the close. Declines in
the industrial list were particularly
noticeable. as in the weeks and months
gone by these issues have been stimu-
lated by reports of good earnings, and
promises of possible increases I'm divi-
dends in some of them have induced
considerable buying, which now is
main there seemed to be no special rea-
son why many Of these issues should
be weaker than the list in general as
no bad news especially affecting them
had been circulated. and in general
way the business reported by these
several corporations will be less in
fiuenced by the various unfavorable
factors than many Of the standard
issues. Banking interests do not take
kindly to industrials, particularly the
new ones. and 1t is possible that call
ing of loans forced out long lines.
which, together with the selling of dis
couraged investors, has been largely
responsible for the marked downward
tendency of industrial prices. Respon-
sibility for the renewal Of further sell
ing of listed stocks yesterday must be
placed on the disconsolation of Wall
Street regarding all the apparent local
sources Of depression. While the Mex
lean situation certainly did not show
much change and the attitude of the
incoming Washington administration
had not improved over night, the pros
pect of a double tax in stock transfers
as embraced in Governor Suffers bill
at Albany was very dishearteninG 10
brokers, many of whom have been
assing through a long period of dis
couraging business and who see in this
latest legislative possibility consider
able curtailment Of patronage, which
even now is not sufficient TO show
profits and in some instances TO pay
expenses. Sentiment abroad was cheer
full on the continued better outlook re-
garding the political development on
the Continent The foreign money
market, however. did not reflect any
Improvement. and the statements of
the Bank of England and the Bank of
France betrayed lingering strain on
the financial resources Of Europe.