New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-16
Securities Settle Back to
Quiet and Uncertainty
Dealings Light.
NO RENEWAL OF
HEAVY LIQUIDATION
Price Changes Generally OF
Fractions-Sharp Rise in
French Exchange.

In absence Of further exciting news
from Mexico or disturbing reports
from Washington. the market settled
back TO the uncertainty and hesitation
Of early in the week. Dealings were
reduced around 10000 shares. the
smallest total in six weeks, and price
changes on the day were narrow. The
railroads and copper stocks were rel
atively firm. Some Of the industrals
weakened. After a fractional recov-
cry at the opening speculative issues
went a little lower, making up part
Of their losses before the close.
The effective manner in which FIJI
az mornings decline was halted pre-
vented any large amount Of commission
house liquidation Yesterday. Dealings.
as has become customary at the end OF
the week. were principally preparations
by traders for the Sunday interruption
in business. United States SteeFs total
for the day was under 10000 shares
and its movement was confined wlthin
a range Of Is Of point. Cruelble Steel,
with no large amount OF business, led
the list I'm activity, ending more tnan a
point down. Baldwin Locomotive made
a similar loss. New York Central
showed some improvement following
the excellent report for last year, clos
ing a point higher. Elsewhere changes
among the more active stocks were
generally Of irregular fractions.
Washington dispatches still left un-
certain how far our communication TO
Berlin would go toward bringing the
break of which the market had been
apprehensive. From Mexico there were
received rumors of further trouble be-
tween our forces and the inhabitants,
but this was not confirmed in market
hours and no official account was forth
coming of the original clash at Parral.
An Increase in surplus that brought
il TO over S102,000,000 was reported in
the Clearing House statement of condl-
tons Yesterday morning. Loans were
reduced s21.0O0.00O and demand de-
posits decreased S30,000.000. There
was loss Of nearly S2000.000 IN total
reserve held, but the lower require
ments meant a gain Of more than 3d.
100000 in the surplus. Now that we
are no longer drawing gold in any
quantity from abroad. the Federal Re-
serve Bank here is reducing the amount
of the precious metal pledged against
cut down more than 100000 last
week and now stands at around ST.
coo. 600. against S94,000,0O0 early in
February.
As a result of announcement OF ne
ROTATIONS for a new French loan here
exchange on Paris made rapid recov-
cry Yesterday. Checks were dealt in
at the rate Of 5.99 francs for a dollar,
hut part Of this rise was speculative
and there was late reaction that sent
the rate back 70 sos in the afternoon.
II will be. il is understood some weeks
before the loan is put out. As now
planned. the amount Will be 100000
600 in short term obligations, offered
for public subscription. This will be
secured by collateral consisting Of our
own and South American securities.
Part of the delay in negotiations has
been caused b. the question as TO how
these obligations are 20 be put in. our
bankers insisting on very conservative
valuations.