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Show STOCK MARKET RESPONDS TO NEWS OF DIPLOMATIC BREAK Sudden Uprush of Prices Succeeds Early Decline; Steel Common Is Very Active. NT-:V YORK, Feb. 3. The stock market's mar-ket's response to the breaking off of relations rela-tions with Germany was a sudden uprusli of prices, many bhares, comprising the war class, recovering from early declines of two to five points and finishing at net Kitinn of three to ten points, while Bethlehem Bethle-hem Btefl, hfavy at the outset, closed at a jaln of thlrtv points, with ten and rme-half rme-half points for the new (non-voting) stock. To United States Steel more than any other speculative favorite was due the buoyant rally of the latter part of the brief Hession. teel opened at a maximum itfain of one and one-quarter points, forfaiting for-faiting more than two points on receipt of the news from Washington and carrying carry-ing the balance of the active list down with it. On the rebound, however, the ntock waa absorbed with such ease and in auch round amounts as to inspire confidence confi-dence and bring about a general readjustment. readjust-ment. Active at Close. More than 200,000 shares of Steel common com-mon changed hands, fully one-half In the extremely actlvo lant thirty minutes. Its maximum of the day was 104 and Its final figure 104. a net gain of 34. Other striking reversals from the uncertainty un-certainty and hesitation of the first hour included Industrial Alcohol, which advanced ad-vanced to 123 & after declining to HVAs', Central Leather, at an extreme gain of 8 H ; General Motors, 8; Republic Iron, 9; Texas company, 10; Crucible Steel, 6, and Airbrake, 5. Coppers rose two to three points, Utah showing marked firmness, even when other stocks were manifesting Irregularity. Rails Less Prominent. Relatively, rails were less prominent In the buying and covering movements, displaying dis-playing some of yesterday's heaviness, but Reading, New York Central, Atchison and Northern Pacific finished the day at sub- stanilal ad-ances. Total sales, 1,075,000 shares. Bonds failed to keep pace with the stock list, all international issues, except American Amer-ican foreign securities, tailing to lowest quotations yet reported. Hallway convertibles con-vertibles and Industrials eased one to two points. Total sales, par value, $3,350,000. United States bonds were unchanged on call during the week. NEW TORK. Feb. 3 Ail other developments develop-ments of the week were eclipsed by the crisis which culminated today with tho break with Germany. Prices, more or less erratic of recent days, were inclined to waver on receipt of the news, but rebounded with such strength as to convey the impression that support had come from tiie foremost financial Interests. It is generally assumed that the bankers bank-ers of the country have prepared, so far as possible, for any emergency. The European war has strengthened the resources re-sources of the United States to an extent ex-tent never before deemed possible. Big Home Demand. As a result of the break, It was believed that exports must necessarily experience serious curtailment for a time, but any such loss would be likely to be neutralized by increased home demand. There was only a slight reflection today of the new situation upon the market for foreign exchange. Rates on Germany actually hardened slightly, with a moderate mod-erate easing of remittances to Paris, while sterling held firm. International bonds were more directly affected, virtually every issue underwritten underwrit-ten by American bankers for account of any of the entente allies registering lowest low-est quotations since their flotation. Investment In-vestment markets will be guided largely by the course to be taken by the government govern-ment at Washington. New bond Issues to meet contingencies are expected to find ready absorption by banking institutions institu-tions and individual Investors. |