New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-10
REVIEW OF THE
STOCK MARKET
Declines General at the
Close-NeW Haven and
Can, Pac. Weak.

The stock market at the opening yes
terday was burdened with heaV! loauS
10 carry. owing TO weakness III seNerai
issues. and despite a firm tone gen
orally i'm the list during the torehooii
the depression was extended, ana de-
clines later were recorded in most o.
the active stocks dealt in. Inc ilos'
impressive opening loss was IN cana
dian Pacific, which was US points OIL
from Mondays closing quotation. Ihis
stock had gone bounding upward oi
Monday on cheerful news from Moh-
treal which indicated that the COM
pany would make a large distribution
TO stockholders from assets or some
outside properties owned by the COLI
pany. The announcement of the crea-
ton of a S55,0O0,0OO trust fund TO DE
known as a special investment fund
and an issue Of S52,0O0OO0 Of b per
cent note certificates at a price OF on
cooled the enthusiasm stirred up on
Monday and brought out selilng oruels
as soon as trading began on the STOCK
Exchange.
New York, New Haven q HARTFORD
was another cause for market desponu-
encv The unfavorable showing in
statement of earnings made public on
Monday afternoon and the near ap-
proach of the directors meeting 10 con-
slider the question OF dividends cast
over the prospect for stockholders so
much uncertainty that New Haven
securities were freely sold. New York
Central was also weak, and there was
a persistent circulation Of the rumor
that the Department of Justice had OBJ
iected TO the merger plan proposed for
the Vanderbilt lines, and when New
York Central declined 10 new low
record there was talk OF the inability OF
the road TO maintain its present rate OF
dividends unless the Eastern railroads
are granted an increase in freight
rates.
Professional impetus on the sustain
ing side lost its steam after little I'M
provement around the midday, and in
the early afternoon the market re-
lapsed into extreme dulness. American
Sugar. which was an element of weak
ness on Monday, was further depressed
Yesterday. and there appeared TO be lit
tie prospect Of any substantial rally,
especially while the remainder OF the
list is under pressure. How FAR the
selling of American Sugar is warranted
by the actual financial status OF the
company and its affairs is a question.
The report that 154 suits have been
filed in the courts at New Orleans
against the American Sugar Refining
Company. claiming damages aggre-
eating S11S.725,66S for the alleged
violation Of the antitrust law and
manipulating the sugar market, would
seem 10 be sufficient reason in the alb
stract for heavy liquidation Of that
stock.
Planters generally in the State Of
Louisiana are said to be represented in
the litigation, and in a period like yes
terday there was not much hope for
support for the stock, although when
the price broke par buying orders as
sisted in it's slight recovery. Closing
prices revealed losses throughout the
list, ranging from fractions to more
than points. Exceptions to the gen.
eral decline were noted, particularly in
American Tobacco, which had an ad-
vance Of ~ points for the day.
The reflected decrease in business
shown in the increase in idle cars, when
ordinarily at a corresponding season Of
the year net shortages in car supplies
are reported, called forth a prediction
that the November earnings OF the rail
roads Will display falling off. In
every part OF the country, with the ex-
ception Of the middle Atlantic terri
tory, there has been a reported in
crease in the surplus OF box cars. while
coal cars have increased in practically
all sections. A f1rmer tone in the local
money market did not add TO the OPP
timism Of the day, although its signifi-
canoe was Of slight Importance.