OCR Text |
Show MARKET SETTLES DOWN. I Prices Undergo Gradual Reversal Following Follow-ing Outburst of Bullish Activity. NEW YORK, Feb. TO. After its first outburst of bullish activity on news of the rupture with Germany, the stock market settled down to a calm retrospect of the situation, prices meanwhile undergoing gradual reversal. One factor that served to bring about a shrinkage of values was the steady selling sell-ing in moderate volume of prime securities, securi-ties, bonds as well as stocks, of the international in-ternational list. Offerings of these issues, is-sues, notably Canadian Pacific, were at lowest quotations for a year or more. This condition was accentuated by continuous con-tinuous liquidation of war loans floated here by the entente allies, all of which established new low records. Spasmodic movements in war shares and kindred specialties were suggestive of another "boom" arising from domestic necessities. Advances in stocks of this general character were not well maintained main-tained and efforts to promote a campaign based largely on speculative reasoning were not encouraged- by those who supply sup-ply the funds required for such purposes. Monetary accommodations evinced a stiffer trend . in all quarters, although call money relaxed from its high quotation quota-tion of last week. Exporters find themselves them-selves in a serious predicament by reason of the virtual embargo on eastbound freight, which has greatly impaired shipping ship-ping facilities. |