New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-14
MARKET NEWS
AND COMMENT
Favorable Outlook tor
Our Mexican Expedition
Puts Up Prices.
WAR STOCKS LEAD
GENERAL ADVANCE
Liveliest Trading for Weeks
Favorites Make Gains OF b
and s Points or More.

Some little uneasiness over the pro
posed Mexican campaign was removed
when Il was reported that Carranza
would receive the permission he asked
TO pursue bandits across our border.
The war stocks, which had displayed
some strength on prospect that 90
nestle war orders would be added 70
those from abroad, rose as they did ms
the excited days Of last years great
speculation. In the late dealings the
whole list improved, coppers showing
some strength and the more active rail-
roads rising. The close was around the
best Of the day, with gains Of 3, and
I'D to g points OF more among issues
most favored.
The excellent response Of tho market
10 the news from Mexico brought more
pubHc interest than has been seen for
long time. Commission houses
bought literally and dealings were on
large scale. The days total, around
100000 shares, has been exceeded only
three times this year twice Wneh
prices broke following President WI,
sons speeches in the West, that warncd
Of the danger that we might be drawn
into the European war, and IN the mil
ion-share day with which the year De-
gan. ,.,..i
The opening found considerable hest
tation as result Of news over the week
end that CarrHnza's forces were being
rushed TO the border and might oppose
entrance of our troops into Mexico.
Possibility that this punitive eXpedl-
ton. like that which Austria was 10
make into Serbia in July, 1914, might
produce more trouble than hrst ap-
peared resulted In the start OF some
iiquidation. Long drawn out hostilties,
II was felt, might for q while do con-
siderable damage to concerns with
plants on the other side Of the line, and
the Mexican specialties were weak IN
the early dealings.
Word from Washington that favor
able reply would be sent to Carranza,
received in the first hour. was followed
bv q quick upturn. Crucible Steel and
Baldwin Locomotive had been leading a
rise IN some of the war stocks on talk
of purchases Of supplies by our gov
eminent. Others In the group joined IN
the advance, and the upward pace Is
the late forenoon was the llvellest seen
for months. Around the middle OF the
afternoon buying slackened, but prices
held well. In the last hour the rise
was resumed, broadening out TO include
the more active copper stocks, whlcn!
were up point or more, and some OF
the railroads.
The short interest was forced to
cover and its repurchases helped the
rise. but most of the strength OF the
day was due TO new buying. The late
reaction, which last week had marked
the profit taking OF the trading element
at the end of each days advance, was
not in evidence.
Crucible Steel, on dealings Of around
$4,000 shares, was the most active
issue of the day, rising more than
points and ending only shade below
Its best. Baldwin Locomotive gained
over points. American Locomotive
was a little slow in starting its rise,
but displayed marked strength, going
above its best of 1915 TO new high
record and ending 6 points higher.
Bethlehem Steel got above 500 for the
first time this year II closed at the
top at 524sa, up more than 80 points.
Net gains of from 10 points or
more were made by Alcohol, WHY'S
Overland, Texas Company. American
Car and Foundry. Maxwell Motor and
Allis-Chalmers. Studebaker closed up
more than points. United States
Steel. on dealings Of over 100000
shares, rose nearly points to S5i2.
Though more lending institutions
withdrew from the market and others
recognized the uncertainty Of affairs by
preferring to lend on call rather than
on time, money rates were practically
unchanged Call loans were made at
from Il. 20 per cent. with renewals
at 2. German checks fell below last
weeks low rate of 72Ac for four
marks. some transactions being report
ed at ~ 1-16c. Sterling and francs were