New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-27
War Stocks Rise Ended
with Indefinite RumOrs
of Coming Peace.
MEXICAN TROUBLE
BRINGS UNCERTAINTY
General Business Not Affected
by Talk of Ending Of the
HOstilities in Europe.


that the market was an uncertain pro-
fessional affair. Possible war orders
from our own government because OF
the Mexican difficulty had helped start
the rise. Peace rumors. with some dis
couragement from lending institutions
brought it 20 a close. There had been
a scattering Of new customers brought
in By the ascent Of the war stocks, but
not enough TO carry on any sustained
advance
The meagre reports from our little
expedition that went into Mexico 10
get Villa did something toward keep
ing the public out Of the market and
limiting operations of the professional
trading element a general uprising
Of the Mexicans against our troops,
something that could easily happen,
might, it was felt, bring a sharp set
back in security prices. In he long
run. however, intervention in Mexico
should not be an unfavorable market
influence. II il should mean bringing
into active use the great natural re-
sources of that country and making
safe tho lives and property Of our citi-
zens. the expenditure Of men and
money would be well justified.
As for the peace talk. it was not
particularly definite 1t seemed to have
its origin in tentative suggestions from
Berlin such as had been put out before
without shaking the determination OF
the Allies. This time there was added
confidence Of Germany's enemies that
in sustaining so well the great assault
at Verdun they had proved themselves
CAPABLE OF withdrawing her greatest
efforts. ard that from now on the early
advantage that lay with Germany be
cause Of her careful preparation no
longer counted. From England and
France it was reported that the end Of
tho war was in sight, but this meant
rather that the Allies felt assured Of an
end satisfactory to themselves than
that peace was a matter OF few weeks
or months.
our stock market may be said 20
have been discountng the effects of
peace ever since the collapse OF the war
stock boom last autumn. definite
move toward ending the war may well
be expected 20 bring further rcverses
10 issues OF concerns whose principal
hone OF profit lies Dr. supplying the
needs Of war. u should NOT necessarily
mean slowing down of all our trade ana
Industry unless a sudden lacG OF cont.
dcnce comes with the ending OF Eu-
ropes unusual demands upon our re-
sources.
Dealings on Smaller Scale.
No large amount Of apprehensive
count Of the peace scare. prln-
cipal offerings coming from those who
had been interested iu the specu-
lative rise of the week before. There
was some liquidation OF the holdings
# commission house customers which
reached no important volume. Dealings
IN stocks diminished until totals OF
under 100000 shares was reached on
Friday. against over 100000 on Tues
day Of the week before. Greatest
losses were, of course. IN stocks that
had been recklesslv advanced i'm the
fruitless attempt TO start another pop
ular frenzy of speculation. and even
here low prices reached were generally
above the poorest of the preceding
week
Business men did not receive rumors
of peace with any particular concern.
An ending of the war with a reversal
OF the present upward movement OF
commodity prices is considered "a IN
evitable as death and taxes. In the
meantime profits accumulate, is sales
are made on basis Of higher levels
than those at which goods were pur-
chased. II the war keeps on for year
longer, or, as some merchants expect,
Until the autumn Of 1917, there should
be sufficient money made 90 Withstand
the expected shock when prices break
on news that war markets arc aboA.
20 end.
Farsighted business men are proceed.
ing conservatively. They are setting
aside out Of present unusual gains a
reserve against the marking down Of
prices they look for. I'm many instances
stocks on hand arc being carried at
figures we'll under those prevailing IN
the market. There is such Il. scarcity
Of goods in many lines that il viii take
more than such indefinite rumors Of
peace as were circulated last week 20
stop purchasing or 90 cur.ail opera
tions. Il was only in the more Sensi-
tive security markets that apprehen-
sion was displayed. and even here corr.
paratively few issues made much de
cline.
Railroad Stocks Fairly Steady.
The railroad stocks held comparative
Is steady when less stable issues fell
back, and made one or two tentative
upturns, but there was not much bust
ness done in the international list. The
dispute with railroad employees still
tends 20 hold back railroad stocks, and
foreign selling is not over.
France is calling for our issues 20
strengthen French exchange here, but a
comparatively small amount OF our
stocks and bonds are held in that coun-
try. French exchange here has been
weak. As purchases IN this country By
France are large, and even with the
numerous loans and credits arran yed
here u has been difficult 10 maintain
stable rates a public loan in this
country secured by collateral had been
looked for 10 meet the notes put out
last year that mature at the first Of
April and 20 provide further credit
but II is said no such financing ~ in
immediate prospect.
Among those familiar with the great