New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-08
Uncertain Trading, with
Shorts Less Inclined to
Repurchase.
IRREGULAR UPTURN
IN COPPER STOCKS
Call Money in Smaller Supply
Foreign Exchange Rates
LoWer-MarkS Weak.

Irregular, uncertain trading followed
the rise with which the week BEGAN.
There was no appreciable addition OF
outside buying attracted by the
strength of the day before. and the
short interest made no such general
covering movements as had been seen
or Monday. Here and there individual
stocks were advanced on speculative
buying or on repurchasing by the
shorts, but the general course of prices
showed no definite trend. Dealings in
bonds were S1,000,000 above those OF
the session preceding, with prices firm.
The day started with few of the In
dustrials which had been advanced the
day before going higher, but this i'm
provement was not general, and dled
away as the morning went on. Later
some of the copper stocks, principally
those not long on the exchange, were
advanced. Greene-Cananea ard lnspira-
ton led this movement with Kennecott,
the last furnishing the largest dealings
OF the day. In the late afternoon
American SmAting rose over point TO
above par, but elsewhere Improvement
among the coppers was Of fractions.
California Petroleum common and
preferred, made belated response TO tho
the day before with losses OF over Z
and points. The other oil stocks
weakened, Mexican Petroleum losing
more than a point, in spite of resump-
ton of dividends on the preferred.
The railroads rose a little in the after
noon, but their gains were not impress
sive, and trading in these issues was
still In small volume. United States
Steel, less active than Kennecott Cop
per and Crucible Steel, ended shade
lower.
Gains by the German forces around
Verdun and report that the German
feet was out in the North Sea gave rea-
son for caution in security dealings.
The dispute at Washington between the
President and Congress appeared from
such votes as were reported during
market hours to be going in favor OF
the Administration but traders are pay
ing less and less attention TO develop
ments at the capital.
Call loans were renewed at 2 per cent
again, and toward the end of the day
small loans were made at 21S per cent,
with few lending institutions offering
accommodation. Little was done IN
time loans, and though the tendency
here was toward firmness, rates were
unCndnSeu. 0OlliHtINidl poPOi VI ~"
best class continued rather scarce and
was still in demand, with quotations
from 3 to 80 per cent.
The principal foreign exchanges
moved downward, sterling getting be-
low 4.76 for demand for the first time
in about three weeks, but recovering
before the end of the day. Francs were
lower, and exchange on Germany, which
had been offered at the rate Of ~
cents for 4 marks when the German
governments attempt at control began,
fell to 70, within shade of its lowest
since the outbreak of war.
British foreign trade figures for Feb
ruary, which do not include goods for
the government, showed another In
crease in imports over the same month
of last year, but this was only about
81, 900 900, against over 100000 IN
January. The gain in exports was
around S10,0O0,00O. against sS,5OO,00
the month before. Additional ship
ments were principally in manufact-
ured articles, further testimony to the
ability of British authorities TO organ
ize industry.