New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-19
Reaction on Profit Taking
No Actual Weakness
To Be D:Scerned.
DEALINGS CENTRED
IN A FEW ISSUES
Losses Reach No Great Extent
and Close IS Above Lowest
Bank Loans Expand.

A rcactionary tendency was in evi-
dence in yesterdays security dealings
RS traders took profits on the weeks
rise. No actual weakness, however, de-
velopcd. and at their lowest stocks
showed losses small in proportion to
their previous improvement. There
was some little recovery before the
end Of the session, and changes on the
day were generally Of fractions Deal
ings OF a trife over 100000 shares
meant quietcr trading than on former
sessions Of the week.
With the market inclined TO soften.
peace talk received more attention.
From London underwriters were re-
porting asking prohibtive rates against
the wars ending this year. The French
Finance Minister was quoted as telling
the Chamber Of Deputies that the end
of the war was in sight. Changes IN
high command in Berlin and apparent
anxiety over the coming German war
loan were. held 10 indicate some APP
probation of the increasing 7ressure
of the Allies blockade policy md cf-
fectivc military resistance.
The market opened with irregular
changes shat for the most part did
not rcacn point. In few instances
were early gains much extended, and
the general tendency for the first hour
was downward. A. that. save IN eX-
ceptiopal instances, losses did not eX-
tend as far as - points. and there
was some hardening before the close.
Dealings we're principally m the IN
dustrial issues that had been active
earlier In the week. Mexican Petro-
lcum. Cruciblc steel and American Lo-
conceive with United States Steel and
Norfolk & Western, supplied good
part Of tho days transactions.
For a little while IN the early deal
iups Mexican Petroleum and Crucible
we're advanced. but both fell back later
TO end with fractional declines. United
states steel. dealt boz 10 the extent OF
only about 10000 shares, moved III
narrow range above st. and ended with
a loss of a small fraction. Norfolk q
Western whose remarkable earnings
have made 10 tho subject of much gos-
sip. rose over . points 10 a new. high
record on revival of the story, denied
Yesterday. tnhL IL Woulu ne ltoe'u ~
the Pennsylvania and a higher dlvi-
dcnd rate guaranteed.
The Clearing House statement Of
conditions At the beginning Of busi-
ness yesterday showed an expansion
Of S22O0O.000 in loans-not large IN
view Of the corporate financing OF the
week and the increase in security
dealing Demand deposits increased
Sf4OOO000. and, with a small loss OF
reserve holdings, surplus went S2,oOU,-
900 lower TO Sl33.O00,0 900.
Sterling exchange was steady, while
marks went 20 another new low rec
ord. Francs rose vigorously, Pans
checks ending az 5.91S4 francs for q
dollar. against "a low of J.97 earlier IN
the week. This strength Of francs was
associated with improvement of French
exchange iu London. where receipt OF
= large amount of gold from across the
Channel was reported. While British
authorities arc understood 20 be plan
ming TO exempt common stock OF Amer
ican cornorations from The moblliza-
tion scheme. the French Minister OF
Finance IS urging sale Of ali American
securities.