The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-04-25
|STOCKS
AND PRICES DROP.
Street Is Depressed by Sudden
outburst of Liquida-
ton. :
BY BRoADAN HALI.

Now York, April 5cL-Stocks closed v.aL
to-day Liquidation, which started in the
industrials. extended to such standard Issue.
as Northwest Illinois Central and Canadian
Pacific. and brought general unsettlement
that promises to run further
Rumcly common droppcd 10 So and ~.
preferred TO 60. now. low records. and This mo
the heels Of the statements by the Stock E Sn
bankers that noated nc STOCK wanla h Inc
missed; Other OF the minor industi.iais sui
fell to 32ss and Beet Sugar 10 .ex 'e''
mere was sharp break I'm Illinois Cen
continuation or the dividend is In serious
uanser from the losses caused by flood dam
Chicago anG Northwest sold et 100 Win
Ichewai or fumors OF an approaching bond
Issues rs ns Az these shares had high standing
noticeably bad. ,''' was
:. New IVY. York Central dropped to 1ol the low
est ilgure reached In two years. The decline
In these shares Is not SO surprising a. he
G 6. OF tho present rate Of dividend
is weli-nigh Impossible under anything iika
conservative management "'
,i Smetera lost point and iugsenheim e9-
plorstoh on news that the Senate had
adopted a resolution calling for informatio,,
as to life and property losses suffered by
americans In Mexico since the Mndero revo-
Tho sc9tari Incident unsettled foreign
, nh,dh sr, Berlin sold Canadian Pacise.
The optimistic feeling thai existed in Gon a"n
|
Inc dtcision that the railroads should INV
their hremcn some 100000 moro than antIci-
pateo, MAS also depressing factor.
The Erie stocks were under prcssure and
the preferred Issue broke n point or more
on light trading. There was foreign selling
OF Union Pacific that carri.sI the stock down
nearly pointn
Copper was fairly steady. and 30 was ste.,
common. st. Louis and San Francisco stocks
we're weak In sympathy with the d.c,Ins ~
,he per cent bonds which havc been drop
ping stendlly for come time. This COMPANY
mas S2-cJo,coo notes due June l. which viii
have TO be taken care OF.
News that the new lntcrboro bond issus of
*'s,ooo'oco would be deferred xix months MAS
Il favorable Item that received little cop.id-
Grafton.
Foreign banks made "a fayorabls showing
in their weekly statements. and exchange
rates were lower on the day. Cali loans eve
aeshade nrner at 27s with time rate. mn
gold was shipped to Canada and thin ~
Thought TO be but tho beginning OF tho move
mcnt north. where the financial strain is be-
Ing kecnly fcit.
disappointment 10 the Street. II IL felt that
no support can be expected In tho newer in
bustrials, and II selling persists they must
he allowed 10 find their natural level. which
IN most cnscs Will be considerably under ruI-
INK prices.
rhe selling OF tho better class Investment
issues, such as North west. has undoubtedl,.
been brought about by the new standard OF
return established by the St. Paul bond is-
sue: No single issue in years has brought
such \ scaling OF prices OF securities that
were considered lrst-clase
Senator Poliouk's bill at Albany. estabiish-
Ing reserves To be kept by savings banks
mas been Killed, according to dispatches re-
ceiNcd after the close. In banking circles
this is considered an added misfortunc