New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-04-21
REVIEW OF TIE
STOCK MARKET
Mexican Crisis ConfuseS
Traders-Sharp Break
Near Close.

Several times during the trading yes
terday the stock market sagged, but II
was not until the last hour that prices
gave definite recognition 10 the impor-
tancc OF the developments with regard
TO Mexico. In measure the market
was under the influence OF the Mexican
news all day, but fairly frequent, II
shortlived rallies made plain how
difficult Il was for Wall Street 70 make
security prices adequately represent its
analysis OF the situation. President
Wilson's statement before noon Of the
purposes OF the administration toward
Mexico tended 70 confuse the trading
element, who had taken it as certain
that Huerta's refusal TO comply with
the terms OF the United States de-
mand meant Intervention in Mexico.
Later in the day the Presidents mes
sage to Congress. defining his position
came out to clear up the doubts, but
not until the close Of the trading ses-
sion.
The opening was fairly weak. but de-
ciines were generally fractional, and
rally speedily ensued. Union Pacific
was the heaviest OF the active securi-
ties at the outset, declining about a
point. The market continued irregular
until iust after noon, when there was
q small break, followed by a rally.
Then in the last hour there occurred
melting away Of prices all through the
/ list. Losses Of from one 10 two points
/ and more were general. q slight uptun
in the final dealings adding only frac-
ton to the lowest prices Of the day.
/ In the last hours decline Union Pa
ci1c and Reading met particularly
heavy selling. losing 2ss and points,
respectively, on the day. There was
also a good deal OF selling in the shares
/ Of the copper companies, which fell off
about point all around. Great North
ern preferred, Lehigh Valley and
Northern Pacific ell suffered substan-
tial losses and closed at their lowest
prices, Great Northern losing Pm. Le-
high Valley 8A and Northern Pacific
/ ~ points. Rather an exception TO the
general rule were New York Central
which at no time was near its low fig
ure OF last week, and New Haven,
which held fairly firm, losing slightly
less than a point. The minor special
ties were decidedly weak, particularly
American Can, which established
new low record for the year at 22N
and closed only fraction higher.
There was considerable activity in
the bond market, the days total OF
transactions amounting 70 about So
6O0,00 Southern Pacific convertible
5s when issued" sold down 70 par. in
sympathy with the stock, which lost
~ points net. Rock Island collaterals
rose to 30 on a report that the Nc
Kenna report of the roads needs would
be made public by the bondholders'
committee to-day, but declined again
to "a when a postponement was an
nounced. The heaviest dealings IN
bonds occurred IN New York Railway
adjustment income rs, over S1.OO0OO0
changing hands in the first hour slone
and the prices receding from 56h to
54n.
Money rates showed higher range
because Of the Mexican crisis, time
loans moving UP 4 Of I per cent for
all periods. Call loans were renewed
at IL per cent, with high figure Of 2 /
per cent Sterling exchange was quiet
and darpaod closed o.. A o-n5