New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-01-20
MARKET NEWS
AND COMMENT
More Selling by Traders
and Further Declines
Railroads Quiet.
RAID BY SHORTS
IN LATE DEALINGS
H. s. Steel Forced Below 80. but
Rallies-Bonds Firm IN
Broad List.

With little support from outside pur-
chasing. stocks did fairly well yester
DAY. i'm face Of bearish operations OF
traders. In the middle Of the last hour
United States steel. which had been
heavy most Of The day, got down belo"
50. and the general list looked very
weak for awhile. steel rallied prompt
". however. and prices elsewhere sth
cned a little before the close. ne
more speculative portion Of the indus
trial list az its lowest showed losses OF
from TO points or so, while a hand
full Of stocks concerning which rumors
OF increased disbursements are active
improved
Losses on the day we're general. ne
railroad stocks for the most part de
clined fractionally on small dealings.
Among the industrials the setback went
further. but even here IN comparatively
few cases did net declines amount 70
much more than a point. In the middle
of thu day trading was quiet. and the
DAYS total Of less than 6Ou,uOO shares
was only little larger than that OF the
day before.
discussion Of Great Britain's plans
for enforcing q strict blockade against
shipments to Germany through neutral
morris and continued disorder in Mexico
furnish sufficient reason 10 advise eau
ton 10 the specializing public. Ordinary
reports of business expansion failed 10
bring market response. At present
doubt over the action of the directors
Of the United States steel Corporation
when they consider dividend policy next
week causes considerable uncertainty
among traders.
steel was dealt in on a larger scale
Yesterday. and was under considerable
pressure In its decline TO S49a II WAS
only fractionally below the tlnal inquire
of Tuesday. and II ended with loss or
8, point. Steel trade publications report
no relapse IN the highly prosperous
condition Of the industry. Extensive
orders arc, il Is said. unable TO be
placed because Of inability 10 promise
delivery. and prices OF finished steel
continue 20 advance.
News of equipment orders beng
placed failed TO improve the market pc
Sitiou Of concerns that normally depend
upon such business, As so largely their
present market prices have been at
tanned through hone Of extraordinary
profit from munitlOn contracts Amer
can Car and Foundry, Baldwin and
American Locomotive all ended with
losses Of point OF more. NcstinG-
house and Can improved in the early
dealings. and the silver stocks had a
little upturn. Mercantile Marine GER
tifcates. common and preferred, con
unucd their decline. Industrial Alcohol
rose 20 a new high record, fell back
and then recovered sharply al the close.
The bond list was broad one. with
prices firm and dealings well distrib-
uted. In spite of reports Of immense
shipments Of our securities from Lon
don, there are no large oferings Of
high grade issues here. British author
titles continue to urge sale Of American
stocks and bonds. and II is probable
that the movement Of these issues 20
this side is not yet satisfactory. Ster-
ling exchange. however, held steady at
A.76 or better in tho pound yesterday.
Our exports, still large, added over
S46.OO0.000 to our favorable trade bal
ancc last week.