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Show FOREIGN SITUATION TENDS TO CAUSE STOCK DECLINES Delay in Reply of Entente Allies Also Brings Yielding Pressure on Active Shares of 2 to 6 Points. N.EW, YORK. Jan. 10. Steady pressure pres-sure of the same general character charac-ter which has been exerted with more or less effect since last December De-cember was the outstanding feature fea-ture of today's market. Active shares yielded two to six points, with declines of greater proportions in Issues of the less representative class. The selling, so far as it had any direct cause, appeared to have its origin in the increasing uncertainties and apprehensions arising from the foreign situation. This ! condition was accentuated by the delay ; in the reply of the entente allies to the AVashington government. Prices probably fell, however, from further abstention of i public interest than for any more tangi- ' j ble reason. Lowest prices were quoted in the last ; hour, the only period in which the list manifested any activity. In several leading lead-ing stocks, notably Mercantile Marine preferred, which dropped six and three-j three-j quarters points, to IS, today's mininmma : were under the feverish sessions of last , month. Sentiment also was adversely affected by another break of fourteen and one-half points in General Motors, representing a loss of thirty-one points in three days. , Bethlehem Steel also forfeited twenty points on very few sales, and the numerous nu-merous low-priced equipments and munl-1 munl-1 tions and specialties as a whole sagged proportiona tely. I'nitcd States Steel held its ground for a time, but was among the hrst of the speculative favorites to recede, closing at 110. Steel's December tomiace statement, state-ment, disclosing the largest amount of unfilled un-filled orders ever reported, proved Ineffective. Inef-fective. Rails were again consistently heavy on relatively light offerings, New Haven and St. Paul losing over two points, with one to two for Reading, the Pacilics and many minor Issues. Coppers were firm during the forenoon, but kept pace with tho later downward trend. t Total sales amounted to 550,000 shares'. Bonds were.asaln featured by heavy offerings of International or war issues, railway issues being more steady. Total sales, par value. $6,640,000. I'nitcd States bonds were unchanged on call. |