New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-08
STOCK MARKET REVIEW
Foreign Affairs. Effect of Flood
and Politics Depressed Prices.

and Politics Depressed Prices.
On each Monday since the Supreme
Court has had possible decisions 10
hand down having a bearing on Wall
Street affairs Washington has been
special point Of interest. but yesterday
IL absorbed practically all the attention
of the financial district owing to the
converting of special sessions OF Con-
gress called 10 consider a revision OF
the tariff.
The opening Of the stock market dis
played fair degree of activity with
tendency toward lower prices among
the leading issues. Union Pacific. Great
Northern, Reading. Lehigh Valley and
Canadian Pacific were Off from their
closing prices of Saturday. Canadian
Pacific being the feature OF the de
clines showing a loss of > points in
its initial transaction. In the industrial
list United States Steel and Amalga-
mated Copper. together with American
Can. We're among the early stocks
traded in. and each opened at lower
price than its final Saturday quotation.
During the first half hour there was
considerable selling pressure. but
stocks seemed 10 be well taken at Ger
tain levels. and traders thought there
was more strength than weakness in
the underlying tone Baltimore Ohio
experienced flush Of selling orders
as result Of the dissolution Of the un-
derVriting syndicates and It's probable
losses from the food. Southern Pacific
was also depressed by iquidations. and
throughout the day. with the exception
Of a few periods of strength sufficient
to give the market an appearance of
irregularity. prices exhibited a sagging
trend
As a result Of sentiment caused 10y
the Ohio flood Chesapeake X ohio VAS
subjected 10 pressure attended by
rumors regarding its dividend prospect.
Profit taking in Consolidated Gas,
Third Avenue. California Petroleum
and other issues seemed 10 be the order
Of the day. and at the close of the
market there were few gains while
minus signs were plentiful throughout
the list
Interest in the Minnesota rate ease
decision Kept traders in It waiting atti-
tude until after il became known that
no decision would he handed down
The tariff measure as introduced in the
House by Congressman Underwood was
a subject Of discussion in the after
noon. ana as usual in all public politi-
cal questions was viewed differently
throughout the district. The only de
preston that had a uniform ring to it
was that SO long as the question had
10 be- considered at this time IT was
we'll 10 have it defined.
one of the depressing factors in the
stock market Yesterday was the Euro
pean situation as presented by the
Balkan allies in their rejection OF peace
terms and announced defiance 10 the
powers This has placed matters con
nected with the Near East in a very
critical condition especially as the
allies have some right on their side.
THE London Statist" I'm commenting
on the situation remarks: Let rs be
honest with ourselves. and admit that
the terms OF peace proposed by the
great powers are from the point OF the
allies exceedingly Disappointing They
have done the work of fighting. they
have defeated what was supposed the
other day TO be really great military
power" The Statist" goes further
and says that the allies are in posses
sion not only Of Thrace and Thessaly.
but Of The whole Albanian and Seryia
territory. IT speaks Of the powers
declaration that Albania is to be an in
dependent state and is To include
ScutarL Touching on the claims OF
Rumania. il finally says that the allies
have been told they must not expect
an indemnity.
II Will be the old story. however and
the powers will win. but in the mean
time there VIII rema in the lurking dan
ger Of possibly more serious en-
tanglement involving the powers. The
foreign stock markets reflected the UNI
favorable political news Of the Cont
nent, and prices in London were heavy
during the day.
The local closing was in the midst Of
Z selling movement which carried some
Of the specials down TO their low points
for the day.