New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-14
Liquidation on Foreign
Outlook Brings Losses
of 3 TO 6 Points.
DECLINE CONTINUED
UP TO THE CLOSE
Mexican Complication Adds to
Nervousness from Germany's
Unsatisfactory Note.

The market found no reinsurance
in the German plea of legality Tor
attack on freight vessels and of avoid
ance in case Of the Sussex. Demand
of the Carranza government that our
forces withdraw from Mexico and news
of an armed clash between our forces
and the inhabitants there added TO
the feeling Of disquiet. A. the start
losses were small and there was
little immediate recovery. as If 1t were
TO be another session Of sagging prices
such as those which had preceded. In
stead liquidation Of long accounts ap-
peared in considerable volume. Deal
inqs OF around three-uuarters OF
oillion shares were more than twice
those Of Tuesday or Wednesday and
losses were extended TO around 5
points. with extreme declines OF . and
After the brief period OF frmness
around the opening there was prac-
ticallv no recovery. At times selling
slackened and prices we're steady near
the low levels and then pressure was
resumed. The close was not much
above the lowest Of the day. with
number of stocks breaking into new
ground In the final dealings.
Losses were general in practically all
departments of the list. The war
group. in which the burden Of stale
accounts Of those who had been hold
ing speculative purchases for better
prices is largest. provided the principal
declines. Reports from London telling
OF the feeling there that authorities
OF the belligerent nations were coming
closer together in their ideas of what
was necessary for establishment OF
peace prevented any benefit 20 the war
group through talk Of domestic orders.
The copper stocks made some re-
sistance for while. but moved down
with the rest in the afternoon. In
the railroads dealings were compare
lively small. but Reading made max
imum loss OF . points and New York
Central and New Haven changed hands
at new low prices for the year. United
States Steel was under good deal Of
pressure. 10 led the list in activity,
with dealings Of more than 10000
shares. and, after fractional recovery.
ended at SO. down more than point.
SO far as any definite news from
Washington was concerned it still ran
that our authorities were planning 20
add to the series of notes on the sub
marine question. Following Germany's
announcement that il was some other
vessel had been attacked by a submar-
inc at the same time and place as the
Sussex, an interchange &C. notes might
well lead to further DELAY and becloud-
ing the issue. That such would be
the outcome. however, was not believed
and rumor at one time had the Ger
man Ambassador already asked 10
leave this country.
Ordinary news developments Of the
day received scant attention. An
nouncement was made that the subsid-
iarics of the Steel Corporation would
after the first Of next month make the
expected advance in the price Of steel
rails for delivery after Nav I. 1917. The
Bank Of England added some $1,000. 900
70 its gold and the Bank Of France
reported a loss Of around $4,000. 900
Still London Exchange continues to
rise in Paris and here French checks
went TO a new low for the movement
al under COZ francs for a dollar.