New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-11
STOCK MARKET REVIEW
Foreign Weakness Caused De-
preSSion-loWer Prices Here.

Tho stock market opened ycsterd ~
morning handicapped 10y distressing
foreign situation. which dismayed trad
ers and caused weakness to prcNa'i III
initial transactions Sentiment MAS
confused regarding the trend durlas
the forenoon's operations. as there were
some earmarks of Improvement que ~
the changed attitude of Governor SUI
zer toward Stock Exchange matters
and the report of a resumption of dlVi-
bends by the Bethlehem Steel Corpora
ton. But on the other hand the pro-
nounced weakness abroad reflected III
the offering of stocks caused apprencn-
sion. and new low prices were recorded
for Reading, Union Pacific, Canadian
Pacific. Steel and some others. 1hcfe
were some periods of firmncss when
gave encouragement to hope that the
bottom had been reached. but the firm-
ness was followed by an easing Off IN
prices. which continued into the after
noon. The appearance of the statement
I
Steel Corporation, while not discourag-
ing i'm lew of the general situation, was
not accepted with any feeling of en-
thusiasm. In the late afternoon TIE
bears made a raid on prices which car
ried them To lower levels and estah-
lished new marks on the down grade
toward which the market has been di-
rected for several days.
While the trading in United States
Steel was heavier than i'll any otner
stock on the list, this stock held fairly
firm by comparison with some other Is
sues. and at the close showed de-
cline of less than one point. There was
also considerable firmnesS in the cop
per stocks, which was accompanied ny
report Of better tone in the metal
market. Throughout the list, hoWeVef
there were declines in numerous Sc
curities, running up To eight points The
loss on the Central Railroad of Ne"
jersey. While American Tobacco and
American Snuff We're quite weak, Lag
gett G. Myers and Lorillard were equal
~ strong: the former was stimulated by
declaration of per cent extra divi-
dend.
The Berlin Boerse was closed yes.c"-
day, but the stock market here was af-
fected by the foreign disturbed condi-
tons, chiefly in Germany. The big
war tax proposed by the German En-
peror was responsible for pessmstic
feeling. as the general impression pre-
vailed that putting the tax into effect
would cause much economic disturb
ance. which would be particularly felt
on the Berlin Boerse. and in turn in the
stock markets of all Europe. The ne
cessity for money In the German capI-
tai was emphasized 10y Berlin's taking
81 800. 900 in gold from London and
$500 in this market yesterday
which nevertheless will relieve the sit
uation and allow the Imperial Bank OF
Germany To make a better showing ~
its next weekly return. What might
have been helpful to the stock market
| but which came out too late 10 be Ol
any benefit yesterday, was report
that Turkey had accepted the propose
of mediation, which signified coming
settlement of the Balkan difficulties
This should prove rather stimulating
TO foreign bourses and possibly TO this
market in to-day's trading. 1t is quite
certain that a removal Of the European
war scare will be followed 10y relaXa
tion which will prove to be beneficial &c
all the worlds security markets.