The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-26
FINANCIAL NEWS
AND COMMENT
General Decline in Stocks, With
Influential Issues
Leading.
EUROPE SELLS STEADILY
Chief Impulses to Reaction
Seem to Emanate From
Abroad.

from, ., q ,,ir,- ,r,o,s. ..ara.u, t..
ava o,,,,,,,,.. -. ,,'..'s..,,-. -. -,
"..s ~ SCI p''po' 'io''s III spec'ai
descriptions Nor was the weakness ex-
hlbited only In the extent OF loss. 1t was
shown also by the closing Of quoted val
ues at about the lowest figures of the day
one feature of the market was the way
IN which the customary leaders of the
list. such as Union Pacific, United States
steel. Heading and Amalgamated Copper
finally slipped away from the levels IN
which they had been firmly held and
slid easily downward under no great
amount of pressure. Another feature was
the expansion Of dealings on the decline,
total transactions agsregating about three
times the volume OF business on Tuesday
There was II disposition in some quar-
tiers To label the selling movement as
professional. and such might be the case
considerin. the probability that, Including
all the degrees OF professionalism. the up
ward movement OF the market over the
end OF the year and during January had
had no other kind Of speculative support.
public purchases ,being largely of an In
vestmcnt order At the same time II was
not obvious that Yesterdays selling wa.
altogether in the nature OF snec,,,atiye
operations for tho decline Indeed nur-
,hascs by traders I'm tho afternoon pro
yided absorption for sales which ca,ne
from other sources. A good deal az Ilo,,l-
dation app.ared TO come from abroad
Tnndo, ssiii,g No, oriv for tel, 49,. o.,
tho Continent and for Atns,erdar whicn
also sold dir.c,iv In ,hn loo, rau a.
,hcr. hnx. haor ,,di,.,inr. ,na, , -
sicr.h,o SUNNY NJ s,ocL, w'as cn,n,rr rrn,,,
JJo,iand which ha. h.cn ha,.,, :, 80. AZ
ayree,hic cxner;epco. NTH g, ionr s,,n',
in,, ,nn,n,i,,n.n,s a., r,an,as s,'1',,.,.'.'.,
shares Eor.iyn ,,cv,Aa,i,n no, no, go
nnod =, On. ,nrornar h,,, nor,in,,nJ 80,
~ ,ass .,.aa,,. 49,. -, 80 ''o'
TLsr 80 -; ~, Wy
tho Wsalnss. !, .v.h 500 -. ,I,rsa,s ~
E.,s,s and Taxas ,h.' nan,.a, 20 DE-
Gr,nds issues ga ,,a po,,i, 1s,a,,, .ho
InJmstriaI snoc,ai,,as 80 IL, 80. =.
w,s ,a, ha,.a,.ar ,,,,u Ill g.,
dav ,h,, the sn"c,,iad ,,c 49, M
10 give Wv hui wa, ,ha,, a., ,na1r
s,ai s,,.-a,Jar ., ,ho - ,t,,,,,, - a.
craasi,g ,narti, ,h,s ,ro,,S 800. asuou,
uns.,,iinn A, 80 .i,,D T., a. s,,a,.,,'',,,,
was there anv sig, ~ ro,iv
A. Tho ,no,nont I, 10 ,ossih,. Tho, ,,,
cbiof ireuancas ox.r,.a o,,ar,.n.hara -
deriv.d from Nh. ,ncart,,,ttas ana a,Sr,
culiies win which Euron,an an,nco no
been freshly aofiic.od There havs hnsr
manifest tokens OF concern n, Iondo,
over the number az new, fnapci,,, fy,,.,
which have foIlowed tho unifnrr succ,sq
OF the earlier undertaklnps of Tho var
brazilian aryairs the Nexjc.r sI,u,,ior
T
have all combined 10 carry the foreIyr
! markets AVA from the level Of improv.
| ment which they attained no, long since
A measure OF conditions has been fur.
nished by British consois which
have declined about ? points from the tor
OF their winter rally. Added TO all thi.
: there has been the domestic Irritation
resulting from the prosecution Of a pro.
gramme Of radical legislation at Wash.
} ington, the embarrassment of the rail.
| roads by the attitude OF the Intersiat,
/ Commerce Commission and the annoylns
strain OF the Mexican imbroglio.
Yesterdays budget of actual news con
tanned Il variety of Information which wa,
not all of an adverse character. Discount.
hardened further ut London and dhe Banl
of England loaned for the first time sine,
January, but the Imperial Bank of Ger
many made another excellent week.,
statement although the exhibit was some
what qualified by the commercial reaction
which as prevalent on the Continent
Financial views were still more or les.
perplexed by the state of Mexica affairs
and doubt as to their outcome natural.
did not help To sustain stocks once the!
had begun to show real weakness. In
cidentally 1t might be noted that som
uneasy curiosity was expressed as to wha
was meant by the sudden desire displaye'
I'm Germany to wage controversy owe
The subject probably engaged moro at
tention that II deserved because OF tn
various awkward Junctures OF foreign re
, lations in which this country IL nov
involved.
Notice was taken OF the protests OF plan
limo carriers against the avowed purpos
of the Interstate Commerce Commission
saddle burden OF expenses on them. here
tofOre borne by the line carriers, In orde
TO increase railroad net earnings withou
sanctioning general rate advances I'M
contest might have the effect or causin
undesirable delay In deciding the appiica
ton OF the Eastern railroads lor perin's
sion to raise freight charges. gleani @
political sanity was detected In the direc
ton Of Washington when tho senate table
the Norris resolution for reopening @
tho Interstate Commerce commission II
quiry into the New Raven, put raiIroa
reports for January provided SUBJECTS fo
discussion of wider application.
IT was indicated that the railroads ma
begun to obtain or assert larger cor
troll over expenses. but II was also IT
dicated that this might be Mt the cost
proper allowances for the property. Fc
example the Baltimore and Ohio's gro'
last month decreased about Sl.lOs.OO
while the decrease in net was kept dow
to about s46l 900. but this result wa
: accomplished only through cutting Il
,,,t,,arar,> ,ccoupta h, sch2 uOO 1ro,