The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-03-20
FINANCIAL AND COMMERCIAL
The Stock Market Active
and Strong.
Government Bonds Lower, States Steady
and Railroads Strong.
WALL STREET,
TUESDAY, March 1916 p. N.

]
TUESDAY, March 1916 P. NJ
Almost from the opening the market showed de-
cided turn upward, which was rather perplcxing u
yesterdays traders, who had looked for continu
OF the duh seadiness which has been character
istic Of stock operations Tor the last few days with
the exception Of grangors, which Jagged behind
other stocks showed great buoyancy, partcu.
arly Lake Shore Pacific Mail Western MON and the
autnracites. To all Appearances the bull party (,kS
theatrical company which takes "tne road") having
found the Northwestern speculation pretty well
played out eyerng It's efforts in more propitioua
quarters. 1t certainly found them In the prompt
response which . decided afforded; though as Il
sfterwasd turned there wore forces lying perdu
which helped the movement These became srH
parent enough. whom, shortly before the houi
for stock deliveries, II was announced thai
the well known house OF g. N. Mills Co.
unable to meet Its engagements and had sus-
pended payment. This revelation, with the suose.
qucnt action OF buying In stocks "under the rule"
accounted In a great measure Tor Inc STIFFNESS OF
morning prices which been created by the eroru
OF the house in question to short lines without
attracting observation. Unfortunately for them tue
latent strength OF the reused into unex-
pectod activity and the bottom OF the purse was
reached before contracts were closed The interests
OF the suspended firm were chiefly upon the bear sce
OF the and widely dispersed, ia shown
by the fact that lots of Lake Shore the
two DeIawares, Pacific Mail ana the grangers were
bought under rules OF the Board to settle oustand-
ing contracts What the degree OF Indebtedness may
amount to Is probably not as yet known TO the parsa
themselves, but, be 1t small large, 1t will rot
diminish by an atom tho widely expressed sym-
pathy for Mr.. Mills, who. in all his relations with
his brother members, has been recognized an
honest, liberal and generous gentleman. While IL ID
probable that artificial degree of strength was
lent to the market by the causes referred to II
not be questioned that tho undertone exceedingly
strong. This il particularly to be noticed in Lake
Shore and Western Union, IN which good buyers ap-
pear prices slacken Less support has been
lent the Northwestern shares, there being dispo.
ston to sell for realization OF profits whenever the
tempt The best figures OF the day were made during
the public closing OF the Mills contracts but when this
was removed prices fell Off and the market closed
strong, but at lower standard OF quotations.
OPENING PRIcRs.
The opening prices OF stocks at the Board to-day
we're as foows:-New YORK Central, 105X; Erie, l0K:
Lake Shore, GAY; Wabash, AK; Northwestern, AK;
Northwestern preferred, 693s; Rock Island, 1918;
Milwaukee and ST. Paul, 3914; Milwaukee and ST. Paul
preferred, 72A; Pittsburg, ia; Delaware, Lacka-
wanna and Western, Az; Now Jersey Central, II:
Delaware and Hudson Canal, As; Morris and Essex,
7Ox; Michigan Central 621 Hannibal and ST. Joseph,
1919; Ham bal and ST. Joseph preferred, 22X; Ohio
and Mississippi, s.; Western Union, S0H; Atlantis
and Pacific Telegraph, 1SX; Pacific Mai, Tx.
CLOSING QUOTATIONS.