The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-02-15
EMBARGO PLACED ON
tAST-8CUNO FREIGHT
Owing to Failure of Ships to Sail Con-
gcstion at Ports Is Seriously
Embarrassing Carriers
NEW HAVEN GOES LOWER
Mexican and Cuban Securities Suffer
On Account of Renewed Agitation.
By BROADAN WALL.

New York, Feb. 14.-Stocks in Wall
street we're relatively firm in a dull
market today until a few minutes be-
fore closing, when liquidation break
ing out in New Haven extended to
many other issues. New Haven was
carried to a new low record at 81 IL,
and Mexican Petroleum went down to
SIS 1-2. showing a loss of four points
The close was unsettled with many
speculative issues at the low figures
of the day and with net losses of a
point and more. A few specialties
showed gains. notably Central Leather
and Burns Brothers stock Anglo
French bonds turned strong at the
very close. although early in the day
they made a new low record at 80 1-2.
The Cuban trouble caused a break of
points In Cuban American sugar and
compromising rise OF IL points in
South Porto Rican Sugar.
Central Leather's extra dividend is
now expected to be at least, FIVE per
cent and perhaps eight Maxwell Mo-
tors directors announced the regular
10 per cent rate on their common
stock, although the Street had ex-
pected a cut to the five per cent rate.
On this declaration the stock ad-
vanced from SO to SIS l-2 If IT is a
real 10 per cent stock somebody is
overlooking a bargain. but only in
sidcrs know for sure.
Put EmbargOcs on Freight.
Railroad activity died suddenly be-
cause of the U-boat blockade. 1t has
not sunk so many ships in the last
few days. but 1t has kept some OF
the greatest vessels OF the world in
their home ports, thus leaving in for
eign countries freight Intended for the
,fl This la n such
tent at New York harbor and New
port News that railroads all over
America are putting emhargoes on
east bound freight. Iackawanna to-
day declared such an EN- barge be-
cause 1t has tied up in It's yards at
Buffalo more than 3 A91 - cars-that
cannot be moved. New York termi-
nails are congested and there is no
certainty when the ships will sail.
Would Welcome Conveys.
An inspired article published in
Germany today conveyed information
that Germany would welcome the con-
voying of merchant vessels from
America This has taken the edge
of the keen pleasure with which Wall
street received the news of conveys,
The blockade is the one important
fact in the stock market just now
and every interest must pay attention
to Ii regardless of personal opinions.
FOR on its success depends the i'm
mediate future of the market whether
the United States goes to war or not.
Further complications for the Uni
ted States was seen in a renewed
warning OF intervention In Cuba and
In re-aEitation OF Mexican affairs.
Mexican Petroleum broke sharply on
report that the British government
might seize the port Of Tampico TO
protect the oil supplies for its navy.
Such a move would be bullish on
Mexican Petroleum. which exports all
It's oil from Tampico and contrary
action Of the stock illustrates the
muddled condition of Wall street
opinion.
Wheat broke four cents and recov-
cred two cents
Cotton was down dollar a bale.
Copper metal was in urgent demand
for Immediate delivery at SO cents per
pound and was quoted at 30 To 81
cents for delivery in the last half Of
the year.