New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-25
REVIEW OF THE
STOCK MARKET
Further Break, with Weak
Close - Selling Tor
Europe Heavier.

Securities broke further Yesto'uaS
"a ,dod tho dav weak. TO continued
foreign selling in this market was auu-
"a considerable domestic liquidation
THO volume OF business. well over nan
q million shares. was the largest TOT
,,,ortbs and the list Of active issues
WINS unusually broad. After the hour
for closing foreign markets trading De
came rather quiet and prices hardened
@ little on realizing. but heavy sel1ns
pressure developed in the last houi
Nth sDectacular breaks in New Haven
and Canadian Pacific. BUSINESS l"
bonds on the exchange as well rs over
tho counter. was dull, pending the ex-
n.cted war loan by the government
ctate and city bonds were little
changed. but government coupon 80
and registered 2s changed hands NJ
louer figures. Mexican 5s closed al
r noints below the last recorded
transactions, little over a week ago
Overnight news from Mexico was
generally depressing including SAILING
Of troops for Vera Cruz, massing OF
regular army and national guard along
tho border and anti-American rlotins
in the City Of Mexico and in other
no;nts Announcement Of friendship
nv villa and late report that an agree
,n.nt had been reached with Carranza,
IL was felt. only added TO the comph-
cations OF the situation.
Again European exchanges took the
Mexican disturbance seriously. The
London market was described as semi
demoralized and Paris and Berhn
showed pronounced weakness. Consois
and rentes declined and early London
prices for American securities were in
many instances a point or more below
THURSDAYS fnal figures. Selling for
foreign account here was estimated as
high az $4,000 shares. In some meas
ure this was accelerated by the COM
ing London settlement which begins
on Monday
The market opened here with de-
cided declines. which we're soon In
creased. Some issues. such as Steel,
Erie and Reading, displayed consid-
cradle resistance in the late break. but
buying for the most part was profess
sional Mexican Petroleum made
further net loss Of 8 points. American
Smelling and Refining broke over
points 70 5sN, but recovered after q
statement from President Guggenheim
that the company could earn It's divi-
dends this year without assistance
from it's Mexican properties. Southern
Pacific went down to 87& closing
shade higher with a loss Of points.
Union Pacific gave way in the late
trading. closing nearly 2 points down.
Canadian Pacific again fell off in the
London market and opened at sharp
decline here. 1t was under pressure
throughout the day and particularly
weak toward the close, its final figure
Of 1881 being the lowest for some
years and over five points under Thurs
days close Late selling Of New Haven
was Unusually HedNA. IldilSdttlOiiS III
the stock have been light Of late, hut
in the last hour yesterday 1t was heav-
lily traded in and was forced down 3
points to 65s4, close TO the low mark
OF early in the year.
Uncertainty over the requirements
OF government financing for the ap-
preaching war caused further harden
ing Of rates for time loans, but call
money remained unchanged. renewals
over the week end being made at ia
per cent. Estimates from known
movements Of currency indicated a
cash gain Of some 100000 by Clear
ing House banks. Sterling exchange
was higher on frmer discount rates in
London and the requirement from sale
Of securities here for foreign account.