New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-18
MARKET NEWS
AND COMMENT
War Stocks Go LOWer with
Expectation of Lack OF
New Contracts.
GAINS AT OPENING
ARE QUICKLY LOSP
Germany and Mexico Still
!
Germany and Mexico Still
Cause Of Nervousness - tx
change on Paris Improves.

The difficulties with Mexico and Ger
many remained over the weekend and
the stock market was still nervous.
Traders found additional cause for dis
quiet in further prophecy that munition
orders from abroad were likely TO be
light from now on The war stocks
were under a good deal Of pressure and
broke from . to points, making up
mart of their losses before the close.
Elsewhere there was not much move
ment in prices. Business reached no
great volume. and apart from some
Humiliation in the war group was main
~ professional.
The report from Mexico. unoonhrmed
in market hours, that villa mad dled
from a wound caused little hrmhess
in issues of stocks of companies inter-
ested in Mexico. but did little TO I'm.
prove the general list. II this death OF
the leader of the bandits whose attack
started our punitive expedition INTO
Mexico should be proved true, It was
felt il might provide a way out OF the
difficult situation in which our govern
ment has found itself. No further
clashes between our soldiers and the
forces of the so-called Carranza gov
eminent were reported, but the position
of our troops. so far away from assist
ance. was considered plecarious.
The latest communication TO Ger
many on the submarine outrages was
said 10 have been completed by the
President. and until this should be
made public there was further cause
for hesitation. In the meantime news
was received that an American was
wounded when the Russian vessel on
which he was a sailor was fired upon
without warning by an Austrian sub
marine.
The particular cause OF weakness IN
stocks of concerns engaged in ordnance
work was an interview given out by a
representative of the Bethlehem Steel
Corporation who had arrived from the
other side Il confirmed the statement
Of a member Of the firm OF j. 7. Nor
gan & Co. that France and Great Brit
ain had been so successful IN turning
their industry 10 the manufacture OF
ammunition that little could be eX-
pected here in the way OF new con-
tracts.
An appearance of strength had been
created dL TIC DDtl4liS " az "t'NN' 80
a few issues. but these gains were not
greatly extended and prices soon turned
downward. Bethlehem Steel, Industrial
Alcohol Baldwin and American Loco
motive. Crucible Steel, Can and West
inghouse all weakened. Baldwin went
10 its lowest for the year. There was
a little rally before noon, but the de
cline was resumed. In the later after
nooi. there was recovery OF q point or
two. Bethlehem Steel made up all but
10 Of its loss OF over ~ points in the
last few minutes of trading.
The recovery in French exchange
that began on Saturday following an
nouncement Of negotiations for new
loan here was continued until Paris
checks sold at 5.95 francs Tor dollar,
against a rate Of more than 6.Os last
week In order that the French gov
eminent will not have 10 appear as Of
fering collateral on q loan. the opera
ton. il was made known. Will be con
Quoted through French banks
Money rates here were PRACTICAL "
unchanged. Call loans renewed at / 3.
per cent and made as high as pa An
nouncement was made of the sale 10 To-
cal bankers Of S20,0O0,000 O. AZ per
cent bonds by Armour & Co.. which
were offered on a basis of about 4.96
per cent.