New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-25
STOCK MARKET REVIEW
FOREIGN Stock Market Weak
ness Causes Decline Here.

The situation in Turkey and the SUI
,on cbo,pe from peace to apparent
revolution emphasizes the ola au"ee'
There's many slip 'twixt the cup anu
tho lin" At the closing OF Weohes-
davis stock market the Foreign us
matches signified that trouble, so Tar DIS
Turkey was con,.rned' had passeu'
and il seemed then that earthiy "oe'
ofectine the financing and security IN
terests had begun to lessen '
,.ostordav morning the opening on the
Now York Stock Exchange renec.eo
the news from abroad OF an eh.ire
mango in the outlook regarding the
Pa1kan settlement. Continental oourses
ord the London stock market were
realty DEPRESSED, and the initial sales
IN this market were on an active scaie
ot lower levels than prevailed at the
closing of the stock market on Tnurs-
dav. Union Pacific, United States Steel
81 Paul and Amalgamated copper sh
showed losses at their opening prices.
There was endeavor on the part Oh
market supporters to prevent further
declines, and during the first hour
trading the opening prices were FAIRLY
we'll held. Canadian Pacific, however
had little support, and pressure on tha'
stock carried It down several points Do
,ow Thursdays close. Specials were
e,so weak. Woolworth offering little
opposit,on to the downward movement
which reached a new low for this year
There appeared to be no substantial
sppport. except in a few issues. Amer
&can Can was bulled, and reached
nev high since its return engagement
To the active list. AS usual rumors
xu.re FREQ and tips were plentiful re-
yard,ne the high points which would
be attained by this stock. but memories
of past performances did not stimuiate
much Of a following. One OF the feat
ures Of the market was the decline IN
Illinois Central, which Unexpectedly
came near the noon hour. At IL
O'clock this stock sold at 1211e, COM
rared with 127, which was the closing
nrtce on Thursday. This downwafo
s,umn caused some selling OF Union
Pacific, which owns about Soo'ooV'VV
Of Illinois Central stock acquired at
9TH q share. Throughout the AFTER
noon the market maintained some
xvba, irregular but narrow movement,
with a slightly hardening tendency
until the late part Of the days trad
inc. when another selling movement
was started. and stocks went on again.
In view of the disheartened condition
of the foreign stock market and tho
heavy selling by London 1t would not
have been strange to have witnessed
lower prices yesterday than were ex-
,,;b;te6 nj the close Of the session. In
the local money market the move
monts of currency this week indicate
. gain by the banks Of about SoOoVVV'
The receipts Of new gold through the
ASSAY Office were S1,475yOOO. and gold
exports amounted to S9,25O.0oo. divided
into 100000 in bars to Paris and
81 100000 in coin shipped to South
america. The remarkable rise IN Tor
cign exchange lately. which yesterday
carried sterling UP to 4.S77b. called at
tention to the possibility Of gold ship
ments to London direct. However. the
increase in freight and INSURANCE rates
since the last shipment are said to on
set this advance. and that another cent
in the pound sterling must be added
before exports OF gold TO London vii
be warranted. II is probable. however
that more gold will be shipped TO soutf
America, which will reach Europe, pos
s,b,y on the theory that the Longest
way round is the surest way there: