New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-02-03
MARKET NEWS
AND COMMENT
Prices Rise in Afternoon
Uncertainty in the
Early Dealings.
RAILROADS QUIET;
THE COPPERS STRONG
Stocks Found Rather Scarce on
shc Rise-A New French
Loan in Prospect.

The rise IN securities was carried
further yesterday. at first with good
deal Of uncertainty and irregularity,
but later with venowed confidence. The
smaller volume Of business and the Sc
curities most favored indicated the
y. professional nature of most Of the
dealings. but the strength so generally
manifested could not altogether be
ascribed 20 repurchasing for short ac-
count. Railroads received comparative
lv little attention, and their gains IN
few cases amounted TO more than
fraction. War stocks were particularly
strong. making impressive recovery from
the low levels reached at the beginning
Of the week. The coppers, which had
so long ignored the favorable news
from the market for the metal, al last
moved up with considerable vgor
Final prices throughout the list were
generally near the best Of the DAY, ana
the last two hours of trading were on
a fairly good scale. Around noon II ap-
neared that the market might be falling
into the hesitating condition that so
often follows pronounced movement
in one direction and its subsequent re
action. but a new volume Of purchasing
in the last two hours found STOCKS
scarce. ,,.
Openinc changes we're fractionally
higher. but in the early dealings tle
rise was not continued IN any. ce-tslh
fashion. and the market tended 70 sag
and then become s;agnant. some OF
the smaller iron and steel companies
improved early. benettung through
merger news and through expectation
Of good earnings soon 20 be announced
There was little evidence or Hqulda-
tion that had so depressed prices
earlier in the week, and pressure by
10 short interest met little success.
strength in copper stocks. led by Ana
conda and American Sme.tlng and Re-
fninp. was OF material assistance IN
establishing the better tone or the al
ternoon dealings.
United States Steel, after some early
reaction. rose 90 over 80 and ended nj It's
best. with a gain Of more than point.
Studebaker. Baldwin Locomotive, Max
well Motors and Texas Company rose
points or more on the day. Industrial
Alcohol. after an early advance, turned
weak in the afternoon ana
closed points down. Erie alone among
the railroads was actively dealt in, and
rose more than a point with compare
tive ease. Reading and Baltimore
Ohio also showed special frmness.
Announcement late in the day that J.
p. Morgan was 20 sail for England nat
urally caused considerable discussion
of the possibility Of some arrangement
for a new British loan here. No such
plan. il is understood, is in contempla-
lion. There is still good deal Of the
proceeds Of the Anglo-French notes I'M
expended. and shipment end sale Of Sc
curities. principally Of bonds. are pro
viding an ample supply Of funds here
for London, as the strength of sterling
exchange indicates. Exchange on Paris,
however. has been working lower for
some weeks, and il is expected that
Mr.. Norgan's visit abroad will result IN
banking loan here for France, Sc
cured by collateral that may reach
5000. 600 900.