OCR Text |
Show FINANCIAL REVIEW. Readjustment In the Stock Market Affects Af-fects Prices. NEW YORK, Jan. 22. Technical conditions con-ditions in the stock market underwent further readjustment this week. For the greater part of that period prices evinced a sagging tendency, some prominent issues is-sues recording lowest quotations of recent re-cent months. There was obvious liquidation liqui-dation in numerous specialties, notably tile war group, and investment stocks were mostly heavy in consequence of continued European liquidation. Official figures ara lacking, but it is conservatively estimated that this market has absorbed not less than $50,000,000 of American stocks and bonds via lxmdon since the beginning of tile year. Developments in Mexico and events of the week across the water, including England's Eng-land's intention to effect a more rigid blockade of enemy ports, bulked large on tfre financial horizon. It was regarded as significant that the market became most unsettled after the declaration of the Bethlehem Steel $30 dividend. Other war specialties, especially those which have to make returns to shareholders, bore signs of further selling, sell-ing, some of which were ascribed to substantial sub-stantial sources. Conditions in the steel Industry aro unchanged, un-changed, all forms of output continuing at maximum capacity and at rising prices. The metal markets are enjoying the greatest prosperity In their history, with copper quoted at more than 25 cents for delivery in the second quarter of the year. It is feared, however, that the movement In copper may cause disastrous results unless present speculative elements ele-ments are eliminated. |