The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-19
FINANCIAL NEWS
AND COMMENT
Prices Move q Little Lower,
With stocks Somewhat
More Active,
LONDON rs A FACTOR

An excuse for the further moderate
sag Of prices in the stock market, or
at least a plausible explanation OF II
Yesterday. was furnished by advices
that the london Stock Exchange would
over night a revised list of
minimum prices. According to tho des-
patches, mlnimums on American stocks
were TO be fixed hereafter AT prices COR
responding with the Wall Street mini
NUNS and without any reference 70 the
British Treasury authorities "A Tondou
has been a selling market for all de-
scrtptions Wall Street wa. naturally in
clined to think that tho prospective
changes In London Stock Exchange con
ditions might temporarily apply a little
mort pressure TO tho list here.
Ordinary artttrage business between
the two centres is prohibited. but the
dpss not preclude international trans
actions. Anyway. it wa confessional
hat the effect OF a reduction in the pro
tective price level in london might
operate. during Soma period Of read
tustment TO cause a drag on quoted
values in Wall Street. II II d'd nothing
else this conjecture had a tendency To
stimulate some professional sales OF
stocks. what II might 10 for the beneNt
OF h financial markets generally
would be 20 stimulate discussion Of the
question ot abolishing u minimum
prices altogether. The lapse Of time
has only added to me solid reasons for
regarding them AS no longer necessary
and as therefore II detriment to the nor
ma workings OF the market.
Under the circumstances quoted val
ues might have been weaker without
exciting comment. Trading increased
somewhat over tho average volumes Of
the first half of the veck. but most Of
the afternoon tho market was dull.
ovard the close there was some slight
hardening. The marke, looked very
much as though there might have been
some moderate selling Of n substantial
character In the comparatively strong
interval up to ten days or so ago, but
II seemed to display underlying ouali-
ties or resistance 70 professional ef-
forts 10 bring about a Sharp reaction.
Reading. which has not acted we'll
FOR some time past. was an Influence for
hiiNfAtAtIlitII ana | flte states SfgPl
was not as Arm as 4 has been lately.
In the ma!n. though. Il could not be
said that the aspects which the mar
ket has worn FOR the past week were
obviously altered. such an uncertain
and comparatively letharcic state as
that into which 1t has fallen IS apt.
however, 70 be a precursor OF some
distinct change.
Mexican Petroleum was advanced ag-
~. go" a. 80 Oh.
as a rule We're sluggish and the general
market was more affected nv the inertia
or heaviness OF standard shares. Third
Avenue declined on the positive state.
nent by the president OF the C1rparv
tfai dividend disbursements were not
imminent.
Ihere was no response 70 such favor
ah+c items OF news as the DAYS hudgr,
contained. An important feature Of this
iniornlItion WAS the dismissal OF the
governments antitrust law proceedings
against the United States Shoe Ma
chInery Company. The decision Of the
Federal district court was OF optimistic
hearing on values NOT so much for
specific reasons hut because OF the pre-
vailinE character OF Federal court.
rulings lately In cases Involving an ap-
%plication OF the sherman act.
So Gar as could be seen the financial
district as a whole remained uuder the
spell. cast upon II by the shadow n,
impending events IN the war abroad.
That any satisfaction was felt over
tho outcome 10 date % our diploue-,o
controversies with the bel!igerents re-
spect!nC the rights Of neutrals could
not ir pretended Nevertheless I. was
felt that something was gained In tn,
fairly explicit assertion by the A1les
that they had established n blockade.
. A. qua 81 $50 HH