New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-15
STOCK MARKET REVIEW
Selling Continues and Some New
Low Prices Are Touched.

The two holidays failed to ala 'he
stock market toward recovery AS
was demonstrated by price movement
yesterday and the generally peari'"
sentiment that prevailed among 'he
commission houses and on the moor ol
the Stock Exchange. The opening VI
the market was active, and lower pi"''
were recorded, bringing new ~" "s
ures for the present decline In many
OF the active issues. Union Pacinc'
Southern Pacific, Reading Amerloah
Telephone and Telegraph ana Amer
can Can were among the STOCKS ''i"'
gave evidences Of weakness ourlhs "''
early trading.
United States Steel by comparison
was firm. and although by far the in"s'
heavily traded In during the day al 'he
close DISPLAYED the smallest fractional
decline. Southern Pacific was OF
course, burdened by the announced III
tention Of the government 10 proceeu
against the company TO compel IL u
part with its Central Pacific holdings
and that Issue sold down 70 new low
and at the close was 2is points on from
it's last quotation on Saturday. In ad-
dition to the governments suit South
ern Pacific also was sentiInental!y al
fected by affairs in Mexico. which dur
ing the last few days have taken on
more discouraging aspect so much so
that Germany. particularly OF the for
eign countries, II was announced han
deemed Il advisable TO send war yes
sel to Mexican waters for the protec-
ton Of her interests. Reports from
Washington stated that at the first
Cabinet meeting held at the White
House the Mexican situation was the
absorbing topic under discussion.
other news having more Of local
bearing included the meeting OF the
Academy OF Political Science. assem-
bled at the Chamber Of Commerce to
discuss the currency measure. The
progress Of the meeting, which was
attended by many distinguished men.
was watched In Wall Street as the
news from the Chamber Of Commerce
was reported on the ticker. From the
character and standing OF the congre-
gated body. representing politicians,
educators. bankers and business men, 1t
IL fair TO assume that the views ex-
pressed will very generally be accepted
as a consensus OF the real public senti-
ment regarding the administration bill.
Yesterdays meeting was given over
chiefly TO defence Of the bill as a
whole by the fathers, Senator Owen
and Representative Glass, and promot-
ers of the measure. Some opposing re-
marks in the afternoon by A. Barton
Hepburn. Of the Chase National Bank.
and Arthur Reynolds, president of the
Des Moines National Bank. pointed out
weaknesses in the present form OF the
bill.
After various attacks and periodical
raids on the market during the day,
which resulted in long list OF de-
clines. varying from fractions to sew
erai points. there was a sharp turn up
ward In the late afternoon that made
tho closing above the low points Of the
session and left a few small gains TO
give the list slight touch OF irregu-
lsrity. New York. New Haven G.
Hartford displayed notable resistance
during the day 10 the selling move
ment, and this frmness was easily IN
derstood after the close OF the market.
when the announcement was made that
the Public Service Commission had
granted the request of the company
for an issue Of s67 100000 Of debenture
bonds.
1t could not be said truthfully that
the local money market had depress-
ing influence on trading. as the better
banking position reflected in Saturdays
Clearing House statement caused an all
around decline in rates for fixed ma
turtles, while call loans were renewed
at 3h per cent