New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-06-27
Stocks Decline All Day,
with Little Recovery
Until Near Close.
STANDARD ISSUES
WEAKEN WITH REST
Speculative Holdings Further
Reduced-MeXican Outlook
Keeps Back Buyers.

To those who had concluded that
last weeks decline had pretty well
cleared up weak speculative accounts
Yesterdays setback on the continued
gravity Of the Mexican situation was
good deal Of disappointment. Sell
ing by outside holders was not heavy
and the days total was under 100000
shares. but prices fell from the open
ing with little or no recovery until
nearly up to the close. At their low
est active railroads were down a point
or more and the industrials 70 5.
Our demand that soldiers taken pris-
oners in Mexico be released, orders to
hasten the National Guard TO the front
and further rumors of r call for vol
unteers were sufficient 10 prevent the
public from coming into the market 10
buy al the lower prices that had been
reached. Spectators who had been OPP
Grating on the long side became more
uneasy and in some cases sacrlhced
holdings Of standard issues TO protect
commitments where losses, II taken,
would be greater.
Beyond some firmness in the leather
stocks there appeared little attempt 70
discriminate in the selling IN favor OF
concerns that might be expected 10
profit through our government pur-
ctases Of supplies. The metal STOCKS
did better than last week, but this was
because liquidation had then been so
drastic. The war order group was de-
cidedly weak. The railroads had the
worst day since Mexico became an ac-
tive market influence week before,
In Reading selling was particularly
heavy. More than 100000 shares
changed hands, and at the lowest It
was more than points down, at ga
against over 10 last month. just De
fore the close most of its late recovery
was wiped out, and il ended only a
small fraction from the bottom. united
States Steel, which had been so stead
ilv supported for the most of the week
before. ended with a point loss after a
slight rally. The Marine issues were
PARTICULARLY weak for a while, the pre-
ferred going back nearly points out
they recovered in the afternoon.
At the opening changes were irregu-
lar and losses not large except in Corn
Products, which had TO contend with
news announcer laNt Oii "a 'NA
an adverse decision in the Federal
antitrust suit. Common and preferred
broke badly in spite of announcement
that an appeal would be taken, making
maximum losses of around B and IL
points. There was some recovery Oh
the statement that preparations for
paving off back dividends on the pre-
ferred would not be interrupted. The
decision came as a great surprise, so
much having been heard Of late OF the
better feeling between corporations and
the government that damaging testi-
mony brought out in the course OF the
trial had been forgotten.
The sustained improvement IN the
reserve position Of banks in this city
rs shown in Saturdays Clearing House
statement resulted in easier rates for
money on call, but caused no relaxing
of the frmness in time loans and IN
commercial paper. Call loans were re-
newed az 212 per cent, the lowest since
the furry in the money market OF
three weeks ago. French exchange I'M
proved, sterling was steady and marks
slipped back further.