Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-06-19
WALL STREET MARKET
UNDER SEVERE STRAIN
Mexican Situation Naturally Exerts
a Bearish influence and Declines
Are General.
Average Losses Two to Three Points
Willys-Overland Drops $40
Share.

NEW YORK, June 1s.-With the news
on the Mexican situation becoming
more disturbing. it was but natural
that there should be a continuation OF
the uneasiness evidenced in the stock
market at the close of last week.
Initial trading was generally at frac-
tional declines. more or less important.
followed by fair recoveries, in stocks
now directly affected by the news OF
the day.
In many instances these early de-
clines were very generally recovered
and the street acted as II there might
vet be an avoidance of clash.
Few Stocks Resist Raid.
Along about 1880 the bears con-
sidered the situation sufficiently favor
able for a quick turn, and between
then and 1850 they sold stocks right
and left. almost without exception
They sold the market on each other
and probably forced considerable mar
GIN calling and liquidation.
The result of this attack was 2 break
Of to 3k points throughout the list.
with but few stocks strong enough to
resist the raid
The rails sustained less serious de-
clines than the industrial group,
Pacific of 1 u. st. Paul y, Southern
Pacific rs. Reading 1 Y, Norfolk and
Western a like amount. Chesapeake
and Ohio 2 points and other less i'm
portant rails 1 to points lower.
Industrial List Suffers.
In the Industrial list the losses were
extended to / Is on Steel common; 2
points on Locomotive. Baldwin Loco
motive. American Can; 2h on Crucible
Steel and 3A on Chandler Motor, which
declined to 1851. Mexican Petroleum
lost IN. and Greene Cananea, directly
affected. lost 2 points. Maxwell Motor
common lost 81 points OH the distance
between the present and future divi-
dend periods. Other stocks were in the
one to two point loss sphere.
That the market remained compare
lively steady between noon and 1
o'clock was something of disappoint-
ment to the bears, who counted on
running away with the bulls, and were
surprised at the fact that they had not
stampeded the market.
Rails Steady to Slightly OF.
Throughout the first half of the sec
ond hour of the afternoon the market
moved slowly, with some additional
losses in speculative securities, but only
fractional. and some slight recovertes.
Steel common going up to 84h. while
Mexican Petroleum dropped to 80.
Rails were steady to slightly OF, in
addition to earlier declines. WHY'S
Overland made a 10-point drop.
Closing Very Soft.
In the last hour the bears renewed
their efforts to break the list. putting
new pressure on the motors, Mexican
shares and the entire list.
They were even more successful In
the late attack than in the earlier ef-
forts. The movement seemed to have
more steam behind 1t. dislodging long
stock and forcing brokers to call re-
newed margins, with the usual effect
of causing general unloading.
Mexican Petroleum. made exactly a
six point break under the pressure
directed against it, white Greene
Cananea, also a Mexican industry,
dropped but 3 points.
War shares suffered severely, Crucible
Steel leading, Az points loss. and 8
to points declines were more gen.
eral throughout the industrial list,
Baldwin losing 3S, Industrial Alco-
hol 3, Chandler 3 and Maxwell Motors
nearly 4.
The rails also were weak and the de-
clfnes extended to 1 II and 2 points