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Show 80(t Of THE WAR STOCKS TAKE A DOWNWARD PLUNGE President's Appearance Before Congress Has Adverse Ad-verse Effect on Market; Conditions Not Panicky. i NEW YORK. April 19. Although spe-1 ! cial stocks suffered general and severe ! reversals. Impartial observers were of the opinion that today's market furnished striking proof of its inherent strength in the face of highly disconcerting conditions. condi-tions. President Wilson's decision to submit the question of a continuance of the country's diplomatic relations with I Germany came as a great surprise. Long before the president's address had ! gained general circulation, the market i evinced a disposition to restore some Us i early impairment. The raiLy proved to be the basis, however, for a fresh out- burst of liquidation, lowest prices being i registered In the later dealings and depressing de-pressing the general average far below recent levels. Munitions Stocks Down. Total sales amounted to 735,000 shares, of which fully two-thirds represented the munitions and affiliated equipment, industrial in-dustrial and petroleum stocks. The day's operations included to a greater extent than any recent session offerings of-ferings from out-of-town speculators. ThiB was evidenced by the activity of commission houses whose connections 1 embrace the more Important sections of , the country. j Wall street's attention was .so evenlv i divided between the market and develop'-1 develop'-1 ments at the national capital that It paid little attention to such matters as the opening of awards for $55,000, u00 of IS'ew York City 414 per. cent bonds, the optimistic opti-mistic statements of the steel and iron trade reviews and the irregular movements move-ments of foreign exchange. Extreme Recessions. Appended are some of the mor extreme ex-treme recessions of the dav: Bethlehem Steel, 22Vi to 417; Baldwin Locomotive, 7 to 86 Studebaker, 6 to 13; Crucible, 4 to SV4., and U. S. Industrial In-dustrial Alcohol, 4 to 14614. U. S. Steel was heaviest of the investment industrials, in-dustrials, losing 1 to Sl. Rails averaged aver-aged minor losses, but wera more freely offered. Bonds were heavy in keeping with the movement of stocks. DeaJings in the Anglo-French Issue and Erie convertibles were unusually large. Tota.1 sales, par value, aggregated $4,650,000. United States bonds were unchanged on call. |