New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-02-29
General Break on the War
News from France and
German Submarines.
WAR INDUSTRlALS
MAKE HEAVY LOSSES
Further Liquidation Throughout
List-Trading Expands
Upturn Near Close.

Accounts received over the week end
Of the German attack on Nerdun
brought little assurance to security
holders. and Saturdays late weakness
was repeated in yesterdays market
Voluntary or enforced liquidation was
heavy and dealings rose 10 total OF
more than 100000 shares. the largest
since the first of the month. "hlie
war stocks made the greatest losses
some getting down 10 points or more
below their best Of Saturday, the RESI-
cf the market declined as well. Trad
ING WAS nervous and excited. and ac-
counts from Washington OF the course
of our negotiations with Germany add
ed TO the disQuiet
The dav started with losses ranglng
from q fraction TO point or more.
little upturn followed. based on iepur-
chasing by traders who had sold short
last week. This appearance of strength
soon vanished and the list weakened,
speculative industrials leading the
downward course. Selling slackened
before noon and prices steadied IN the
ouioter trading, but renewed liqulda-
ton came with word from Washington
that Germany would not modify or
postpone her programme of torpedolne
without warning armed merchant YES
sells.
Stocks went further downward in the
afternoon. some TO their lowest for the
wear. A statement from Paris that the
French forces were holding their lines
and q late dispatch which said that
Germany would not attack passenger
vessels i'm putting into practice her
new policy helped a late recovery. THIS
was principally through repurchssing
for the short account in view of the I'M
certainties attaching TO weakness On
war news. At the end of the day stocks
were up from fraction 10 : points
or 80 from their lowest, with active
issues az much as and more points
lower on the day.
In conspicuous exception 70 the rest
Of the list Reading was strong most of
the session. closing at its best up over
points on dealings &C around 10000
shares. This rise started reports that
the company would give in 10 the gov
eminent and distribute its coal hold
ings. but such rumors were denied in
responsible quarters. The rest of the
railroad list declined slowly early IN
the day. made comparatively few losses
greater than a fraction and hardened
toward the close. New York Central
was particularly weak in the early af-
ternoon. with d maximum loss of more
than points.
United States Steel. after declining
more than a point. recovered good
fraction Of its loss, TO close at So.
Some of the oil, munition and automo-
bile stocks were particularly weak.
Studebaker's report for the year, which
showed 29.5 per cent earned on the
common stock before extraordinary
charges. more than twice the record of
the year before. failed as a market
influence. Bonds were irregularly
lower The Anglo-French notes, in
heavy dealings, fell to $3.50, beneath
the lowest reached when the issue was
under pressure at the time TIE under
writing syndicate was dissolved.
Money rates were practically un-
changed, with the loss of reserve re-
ported on Saturday followed by trife
firmer tendency in time loans. Sterling
and franc exchange were trifle
weaker, and that on Berlin hardened,
but il could hardly be said that the
exchange market was responding in
any marked degree TO the news of the
war