The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-11
FINANCIAL NEWS
And COMMENT
Stocks Display Strength De.
spite the Mexican De.
v%clopments.
STEEL TONNAGE GAIN

Stocks went up yesterday in the Sc
auel to a real crisis In the co0ntry's re-
lations with Mexico. calling at last for
such energetic action by the Government
as was decided on In the campaign OF
punishment ordered for the organised
raseous invasion OF American soil. Very
little attention was paid by Wall Street
to any other external matter in the field
OF foreign difficulty. The posture Of the
plomacy with which II has burdcned
Washington were all obscured by the
Mexican question.
Opportunity was afforded over night
affairs In their bearing on the stock
market and general business. In the up
shot. although forward activity was
halted somewhat by the new trouble
thrust on fnanciai attention. no adverse
conclusions seemed to be reached.
Judging from the aspects OF the Stock
Exchange session. the Wall street view
was hittN NhNNstu NNNibt'itistN !" sl'N
effected and were not likely to cause
any u~rfavorable change In the position
or prospects Of values.
Some setback In the share list might
have been expected oward tire end Of the
week as a natural consequence of the
upward course Of prices of the last few
lays. Yet there was on the whole very
little reaction from the best figures and
The market closed strong with u sub
'tantial average OF further gain. Total
transactions represented bur, a moderate
~shrinkage from Thursday's volume. al
trough the afternoon lacked the aulma-
ION OF the earliershours
stocks started TO rise bri.kly In the
'arly dealings and subsequently ad-
vanccd rather sharply. Liberal ofer-
,ngs checked the rise and induced ma
tcrlal declines in some directions, but
selling diminished AS prices fell away
and the market hardened rather easily
lfterwdrd. There WAS no time for very
savy pressure and although buying
operations We're criticised AZ chiefly of
Professional origin. II IL usually the case
hat any particular movement Of stocks
= lnauguratsd under professional au-
'p.ces and tn. fac, hat professional ef.
FOR; has lately been OIL the constructive
side may have some significance for
at' oh' ~ i"' '"N
look
Features Of strength were provided
co~nspicuously by stock of corporations
which have large property interests q
Mexico. including Mexican Petroleum
American Smelling and southern Ia
cifc. TIE trading disposition was L.
assume iha; Washington's action mus:
conduce to some restoration ~ tranquil
lily and order ON the other side of ar
southern border Zinc and other metal
stocks continued to display aggressive
armne-s and there was apparent ar
7rmu,a ion OF war o:d'Y specialize
at advancing prices ON The theory that
all the possibilities OF pr1d' In wa
contracts hav. not been fully discounted
a; curren; prize iey.is.
An important and favorable item or
business news was the United States
Steel Corporations Nhihit ~ forward
business AZ the end Of February. This
showed a gain Of SAC. 1919 tons despite
'utput at IA maximum rat" Of produr-
ion and despite the rise OF prices for
steel products 10 figures that have No.
been touched in years. Morcuver. .he
corporation now repor'- q total Of -
1886 tons of unified ORDERS. CONS
Dared with a previous high record "f
rs ton on December 81. 1906
The increase Is actually much greater
FOR the former total Included = large
noun OF intercompany business which
= no: now reported,
In the foreign exchange mar,et. wh.le
';erman bills remained weak sterling
moved W The strength OF sterling ~
remarkable on account Of our heavy
oSpor, trade movement. and PERHAPS
effects ARRANGEMENTS sue As are NJ Y
hcine ruulorcd for large loans ON tie
,merloan securities which are being
mob!l!zcd by the British Government.