The sun., 1916-02-15
FINANCIAL NEWS
AND COMMENT
Professional Pressure Effcc-
tive in Weakening stock
Market.
STRENGTH IN COPPERS

wall Street seemed yesterday to be
FUN Of international lawyers who were
for the most part apparently specuat-
ing on the bear side of stocks for an
extraordinary tumble Of reasons more or
less irreconcilable with one another. Ex-
planations offered for the pressure APP
plied TO the market were diverse enough
to suit all rcJudices In favor OF lower
prices.
Prospects for early peace in the war
were urged together with the severe
winter lighting, especially on the western
front, where some German success has
been reported. As II this were not
enough a multitude OF conjectural dip
lomatic complications was thrust on
speculative considerations as a result OF
the issue of armed merchant ships winch
Germany has raised. Apprehension
along this line was carried 10 the extent
Of imagining an embargo on exports to
Great Britain and France III reprlSal Tor
objection on the part of the Entente
Powers to the modus NiNendi which Sec
rotary Lansing has suggested. The cop
per stocks. which were particularly
strong except in the very late dealings,
did not reflect any manifest concern
over talk Of an ultimate embargo aud II
/
has been the prime factor in making the
highly profitable prices which copper pro-
duccra arc obtaining FOR the metal.
AZ matter Of fact there was not
much in tho Wal Street discussions of
the DAY which deserved serious attention
save perhaps tho evidence OF some dis-
Quiet provoked by the diplomatic tanglr.
| looming up IN the wake " the Lust
! tsnia controversy. OF these II may he
said that the best Judgment of the finan-
| cal community held that reliance could
he placed on the practical saeacity Of
| Great Britain and her allies as well as
| on this Country'S own stock of common
sense 10 SEQ to IL that no international
difficulties were permitted 10 reach 4
stage of acute strain, however much II
' might he to- GcrmauNs purpose T." pro-
woke an American quarrel with Cor
/ many enemies
- far as tho stock uarhrt itsel
| went II WIS a fairly active sc-s ot
| which had All the carmarks Of AN cNccs
siNe Professionalism, PARTICULARS n 10
! selling aspects. At the outset "f IN,
day the copper metal and allied sh1rc'
proceeded To display aggressive strength
I'm continuation of their movement las
week to make helated reflection q
tho exceedingly prosperous condition,
OF tho metal trades. During most OF tn
day thesc metal Descriptions displaye,
irmness. hut they were sympathetichll
affected in the end by the heavinose IL
other quarters OF the list Some of tn
conspicuous war stocks were singled on
for heavy sales in tho early dealings
and declines which took place In 'ruri
ble Steel, Baldwin Locomotive and Mcr
camille Marine preferred wcr" iuhusn
tial IN causing general unsettl"neu
, and stimulating scattered comm ssiu'
house liquidation by Uneasy 'nargi
traders The market as a whole close
actiyc ana weak witt signs Of pro
fcssinral effort to force a low level q
prices in order To- attract sales "Ne
night
Most OF the aetna. rcvs %: ne da
. hearing OH values was Of n distinct
favorable sort. The idle freight -
report as Of tho beginning ~ the mont
diSclueed = condition of active employ
inout ur railroad equipment, which WI
\ added testimony to IA" pace ~ whiC
. general business is moving. An cNhur
| two statement issued to Anaconda 'uI
/ p.r stockholders weS Of iWportauD"
| moro than tho shareholders In quest I"I
Il showed production sold further thca
| at very profitable prices than ever h'
for" and i oNIresscd expert opiuu
that tho peac" requirements FOR rppp'
/ would create an enormous demand +,
the metal
\ particularly interesting ten Of il
/ formation was contained IN ih" lnuu
report of 'uc Federal Reserve Boar
In this report tle board set at rest q
doubts about reserve bank policy
III respect TO the pur .haso oc bills base
/ ON exports tu hellgerent countries.
/ matter what the nature and purpu>"
| the goods involved III the irtnsacto
4 lri ~,