New-York tribune., 1913-11-18
STOCKS DULL;
PRICES IRREGULAR
Opening Weak, but Better
Tone During Forenoon
Mexico Chief Factor.

The week opened on the New YORK
Stock Exchange yesterday with securi-
ties under depression, resulting from
the unsettled conditions in Mexico ana
the apparently unfavorable indications
reflected from the weekend news
There was an initial decline IN Union
Pacific, Reading Lehigh Valley, can
adian Pacific, New York, New haven
e. Hartford United States Steel and
other leading issues. and conservative
| traders refrained from participation
| feeling that factors having a bearing
on the stock market would prevent any
real activity.
During the first half hour transac-
tions were confined TO a few issues the
majority of the stocks ordinarily active
remaining quiet. Around IL O'CLOCK tue
official announcement at washington
that European and South American
governments had assumed an attitude
Of svmpathetic cooperation with the
United States in plans for the paciflca-
tion OF Mexico had stimulating erect
and some improvement was MANIFESTED
particularly noticeable in New York.
New Haven & Hartford stock and the
bonds. when issued. The undertone OF
the market exhibited notable hrmness'
and Missouri Pacific showed recover
ing inclination and carried better
tone. Business, however, was extreme
" dull and there was some disposition
toward a sagging tendency shown in
the course of prices.
Notwithstanding the news that the
striking trainmen and engineers on the
Southern Pacific had accepted the basis
of settlement submitted by Chambers
and Knapp, OF the National Board of
Mediation and Cancellation. the South
ern Pacific stock did not respond with
any degree of energy 10 the favorable
information. During the early after
noon the market continued TO exhibit
an Indifferent tendency coming almost
TO q complete standstill at times, and
price changes were of no significance.
In the late afternoon professional up
ward movement was started that
caused a little short covering and con
sequent rise. but il did not materially
assist the market as a whole in the
closing prices. which were irregular
and losses were recorded in most of the
leading issues Missouri Pacific, New
York Central, Southern Pacific and
New York, New Haven & Hartford
showed gains, the last named having
net advance of IA points over Satur-
days closing. The undertone seemed
TO be very we'll sustained, as the de-
clines generally were fractional.
While the news from Mexico had a
touch of improvement and the South
ern Pacific strike situation was bet
! ter, there was little to encourage cheer
| ful sentiment along other lines. The
prospect that It will be a period cover
| ing months before the question Of
freight rate advances will be finally
acted on, and the Washington reports
Of prospective antitrust legislation,
together with the suggestion Of guar
antee Of bank deposits, was informa-
ton not calculated to be helpful 10
trading enthusiasm. Banking interests
naturally are unaterably opposed TO
any drifting in the direction OF Secre-
tary Bryan's pet scheme OF guarantee
ing bank deposits.
The money market was slightly easier,
owing to the favorable bank statement
OF Saturday. and call loans We're re-
newed at 3l2 per cent. A shade Of i'm
provement was shown in time money.
which was offered somewhat more
| literally, but the market was without
! feature.
|