New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-20
STOCK MARKET REVIEW
Mexican and Foreign News
DepreSSeS Prices.

Reported unfavorable developments
in Mexico depressed foreign sentiment
and resulted in lower range of prices
at the opening Of the local stock mar
ket yesterday. London was seller OF
American shares on its own account
and on Continental orders, which in
Guided the copper shares, and at the
opening on the New York Stock EX-
change American Smelling and Re-
fning was one of the weakest local
features, and showed losses on an mi
tial transaction Of "a points. This
company's holdings in Mexico were as
ISOLATED with the critical situation Us
portraved in the overnight dispatches
and the prospect of reduced earnings
and possibIe losses offered the basis Tor
the depression of the companys shares'
Canadian Pacific was another STOCK
which showed initial declines of more
than . points, but this was crediteu 10
European selling.
A heavy tone continued during the
first half hour, although reassurlng ad-
vices regarding Mexico were clrculateu
in the Street along with news OF I'M
movement in the corn crop outlook as
result of showers and a lower tenn
temperature in the Southwest Weak
ness was exhibited in United States
Steel. Reading, Union and southern
Pacific and other stocks which con-
tributed to the business OF the carry
forenoon. Around the end of the hrst
hour a selling movement carried STOCKS
IN the lowest levels of the morning ses-
sion. following which trading became
dull and there were few signs OF re-
cuperation. a small rally occurred
toward noon. but the recovery was not
vigorous enough TO command follow
ing sufficient to inspire bullish tenden-
Giles. The foreign news regarding re-
newed possible complications In the
Balkans in the relations between lui
kew and Bulgaria conveyed reassur-
ences in a note that stated that the
Bulgarian government had been IN
formed that the powers would act III
concert to make Turkey respect t'e
treaty. at London, which would COM
mol the Ottoman government to give
I'm Adrianople. The effect of this in
formation did not prevent a reported
depression abroad and failed 10 coih-
fort traders on this side. as the Mex
ican influence overshadowed all other
factors. and kept in the foreground the
snectre Of serious complications whlch
might involve the United States gov
eminent. In the afternoon an III
proving tendency set in. and the 10"
nrices recorded during the forenoon
SLOWLY were succeeded by higher quota
tions. Near the close more activity was
apparent and betterment was IN prog
ress during the final transactions OF the
dav In view of the combination OF ad-
verse international news the stock mar
ket preserved a rather steady tone put
sentiment was not uniform. the IN
vestment market displayed some spe-
ciel interest in the issues affording
high Yields. and a reported inquiry for
short term notes by local and outside
institutions reflected a more flexible
disnositjon Of the national monetary
situation for the period. There were
some offerings of funds on time &C
commodations. but the aggregate was
NOT large and not Of more than incl
dental import There were no changes
IN rates for time loans, and call money
was in plentiful supply at the ruling
rate Of "a per cent.