New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-12-16
MARKET NEWS
AND COMMENT
Advances in a Few Issues
Not Enough to Send Up
the General List.
ANGLO-FRENCH LOAN
AS LOW AS 94B
Heavy Dealing in Allies Notes
Standard Stocks Dull
Crop Figures High.

After short period around the
opening in which prices were fairly
firm, the general list hesitated. with
some irregular weakness in the mid
die of the session. a few specialties
were sent higher in striking fashion
and dealings in these issues provided
large part of the days total. In
bonds trading was concentrated in the
Anglo-French notes. which on the first
day of an Unrestricted market changed
hands as low as 94ls. and in the Mer-
camille Marine collateral Az per cents.
From abroad there came little 10 infu-
ence the market. OF important domes-
tic news much was received, without
any apparent effect.
The opening saw continuation Of
the short covering that had marked
the late advance Of Tuesday and a
little new purchasing Stocks were Of
fered rather freely and the market be-
came irregular, and then dull. Around
noon there was some professional sell
ing pressure, but no great reaction. In
the late dealings a few conspicuous
issues occupied trading attention. Ad-
vances In specialties, however. had no
power to stir the rest of the list.
Mercantile Marine preferred carried
on for a while the upward movement
Of Tuesday afternoon, advancing over
3 points, but later falling back, TO end
with point loss. Around 100000 OF
the certificates were dealt in. mors
than four times the total Of United
States Steel. The bonds also on heavy
trading advanced and reacted, but end
ed higher on the day. Oil stocks were
- l.,
Texas Oil went higher, and MeXicaa
Petroleum shot up in the last fifteen
minutes of trading TO cross par, more
than points above the final figures of
the day before. Studebaker was high
er in the early dealings, declined
started another rise in the afternoon,
and finally ended nearly a point dowp.
Baldwin Locomotive also failed TO hold
an early gain.
New York Central reached a new
high for the year and saw little sell
ing when the directors failed TO raise
the dividend rate. Reading weakened
on a small amount of business. to close
q point down. Rock Island added
nearly a point 10 its decline Of the day
before. United States Steel. on I'M
usually small dealings, declined frac-
ton. Weekly reports Of an overwhelm-
ing business in the steel trade prove
an old story.
The expected heavy selling of the
Anglo-French notes brought out some
large blocks and sent the price down
TO new low, nearly points under
that at which they were underwritten.
The s180.000.000 unsold out of the
$500 100000 issue naturally encourages
operations on the short side. as the
large amount of dealings for delayed
delivery Yesterday apparently indi-
Gated. II Is assumed, however, that
underwriters of the notes. as in ordi-
nary cases where the public has not
taken the full amount offered, Will use
discretion in dispOsing Of their hold
ings and not spoil their own market.
The governments final crop esti-
mate, like so many OF its reports this
year, was ignored by the market, in
spite of the tremendous addition to
our national wealth there set forth.
Since the last figures an addition TO
spring wheat and a small reduction
i'm the winter crop brought the total
above 1.01l 100000 bushels, exceeding
last years record by over 120,000,000.
Corn was cut down much less than
expected and stood at over $4,000
600. Yields of wheat, barley, rye and
hay are placed at the highest ever re-
corded. More increased and resumed
dividends were announced by individual
concerns. The surplus Of idle cars on
December l was. unexpectedly, higher
than on the month before.