New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-18
STOCK MARKET REVIEW
Prices Further Depressed on
Mexican and European News.

DuTOcnc0 WIN tilc various unld\ or
able factors which have kept the stock
market in a gradually sinking condi-
ton for some time it was quite a
shock yesterday when rumors were
circulated that j. Pierpont Morgan
was suffering from severe at
tack Of indigestion which promised
serious results. The bears sue
ceeded in causing sharp break at
the opening. which a little later was
followed by some recoveries when re-
assurances Of Mr.. Morgans health
were given at his office and by the
news agencies. There was consider
able selling scattered among the va
rious stocks during the day and only
slight support was offered, practically
all of which came from the shorts, who
at times were inclined TO cover in
view Of possible changes for the better.
affected by the news concerning Mr..
Morgan's illness and for few minutes
exhibited n very wide fiuctuation of
quotations. While some relief was af-
forded by denial OF the Morgan rumors.
there were a sufficient number of other
depressing influences to cause declines
in prices and to leave the result of the
days transactions with a consider
able net loss.
The situation in Mexico destroyed
the hope of the optimistic that
favorable turn, the less promising
cable dispatches from the Balkans cast
shadow over any relief from that
source and the threatened strike of the
firemen added TO other adverse
factors seemed TO be sufficient 10 hold
in check any attempt toward stock
market Improvement Temporary
despair as a result of home and for
eign conditions was even further IN
tensifled by reported sentiments ex-
pressed in President-elect Wilson's
book, and the uncertainty regarding
his Cabinet and the administrative at
titude toward corporations after March
4. Canadian Pacific was the weakest
stock on the list. both the common and
preferred issues declining more than six
points on the days trading. Weakness
was general, however, in both the
standard issues and the specials, ana
with very few exceptions declines were
shown in all the stocks traded in dur
ing the day. Those exceptions included
Harvester preferred. Deere q Co, :. :.
Kresge. and few minor fractional
gains. Considerable underlying strength
was shown in Southern and Union Pa
cfic. as these stocks at the close of the
session displayed only fractional losses.
The persistent report that Pennsyl-
vania would soon announce a new
stock issue of about $4,000 600 was
not particularly helpful 10 bull po-
sition. i'm view of the general money
conditions at home and abroad. Dur
ing the day al periods there were signs
Of buying which suggested real support
but il was not until after RAD on the
market in the late afternoon that the
support was sufficiently aggressive 10
drive the shorts TO cover, and this was
only after a number of stocks had been
forced to new low levels during the
present downward movement. II was
decidedly blue Monday and in the
events Of the day apparently nothing
transpired which offered assistance
toward a betterment in the near fu-
ture either here or abroad. The action
of the foreign bourses indicated an APP
prehension there regarding the Austro-
Russian differences, and the strain
which has been so continuous was re-
Elected in a more pronounced way on
the Continental bOurses than in the
London stock market. The local
money situation exhibited an Increased
demand for time money, particularly
for mercantile purposes, and call loans
advanced I'm sympathy. No further
engagements of gold for export were
announced.