New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-06-17
Stocks Recede Toward
Close, with Talk OF
Mexican Crisis.
DEALINGS EARLIER
ALMOST LlFELESS
Railroads Go Lower in Late De-
cline-Sterling Up as Lon
don Discounts Rise.

Toward the close Of yesterday =
dealings traders decided that the Mex
lean difficulty was what was overhang-
ing the market, and developments
.bere being rather unfavorable, sold
stocks. For most Of the day the busl-
ness done was without much signih-
canoe. Even with the last hours com
narrative activity the total turnover
was one Of the smallest of the year
and prices moved little, save toward
the close.
The Democratic platform carried
the presumably inspired announcement
that our troops must remain in Mex
Eco until law and order were restored
and raids across the border were maze
improbable. Forecasts Of our reply 70
Carranza's demand for withdrawal IN
6;c,4ed that the tone would be far
from conciliatory. Our forces appear
IN such position that an explosion may
we'll come that will at last bring TINS
country into direct Intervention ., q,
II was not, however, the so-calleo
Mexican issues that showed WEAKNESS
Apparently the prospect OF active IN
terference south Of the Rio Grande
had been pretty well discounted by
these stocks. Early in the day they
even showed some advances, IN splIsY
Of news of border raids and continued
friction.
few attempts at putting up stocks mere
and there, but these operations "eIg
conducted in half-hearted fashion anu
benefited not so many issues as
usual. Il has been difficult the IasV
few DAYS 10 obtain speculative i9l-
lowing on advances and the apathy
Of the outside public has been most
pronounced. ., leo
early in the day in anticipation OF ine
start toward paying of DIVIDENDS que
or the preferred, but TINS cary
strength was not maintained. CruclDle
closed nearly a point down. Inc re-
markablv conservative rate at when
tbeso accumulated dividends are to
be met was not made known in time 10
affect the course of the stocks on the
exchange. American Beet Sugar rose
for a brief period but fell back when
support was withdrawn.
In spite Of the time that is TO
elapse before the railroad labor cues
ton again comes 20 crisis, gold
deal was heard about the lack Of sue
cess Of the recent conference, and a
number of the railroads went of
rather easily in the late decline.
Reading, Norfolk & Western, Erie
and Denver preferred closed with
losses Of a point or so. United States
Steel lost nearly q point, and ended
only a shade above its lowest
The important development in the
monetary situation came from Lon
don. where, to check the movement
toward transfer of American balances
70 this side because of frmer rates
here, discounts were advanced until
three months bills went TO SIS per
cent, a shade above the bank rate. In
such time Of uncertainty as TO the
future value of funds in London
higher rates there do not attract &C
counts as in normal times, but better
returns should at least do something
toward keeping balances in London.
Sterling rates here hardened per
ceptibly for the first time in days and
closed firm. In the meantime London
is still sending us gold, S3,9OOOOu
brought in yesterday making the
weeks receipts nearly Sl3,5OO,OO0.