New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-21
MARKET NEWS
AND COMMENT
Prices Break in the Late
Trading, with Peace
Rumors Current.
HEAVY SELLING IN
THE LAST HOUR
War Stocks Lose a Good Part
of Last Weeks Gains
Anglo-French IS Up.

Though there was some little in
crease of commission house buying
around the opening yesterday, this did
not go in any large amount into the
war stocks that had been advanced last
week. Altogether buying demand at
the start were hardly sufficient to take
care Of profit taking sales and opera
tions Of traders on the short side.
Opening gains were not much extended
and the short interest was encouraged
10 raid the market around the middle
Of the forenoon. There was little re-
coverv from this attack and in the last
hour another drive brought out a good
deal Of stock and sent prices down AS
much as 3 to points under Saturdays
close.
The munition stocks that had been 50
prominent i'm last weeks rise proved
specially vulnerable. Accompanying
the break i'm these issues was resump-
ton Of the peace talk that had been
feature of market gossip on Saturday.
from the other side TO substantlate be
lief i'm an early cessation OF hostlllties,
but as the day went on Apprehension oil
a sudden end TO the business received
from the warning powers became more
general Among bankers with ln1u-
entail connections on the other slde no
belief was expressed no any sudden
ending Of the war. though II was sdld
that the financial position of Germany
was much worse than she was willing
to admit
Strength in the Anglo-French notes,
which rose to 94@4. their best IN
month. made peace rumors seem more
real Bethlehem Steel's annual report
for last year, with its earnings OF over
IL per cent on the common stock ana
its S175.O000O0 Of untitled orders at
the end of December, came az an I'M
propitious time 10 stir interest IN the
war stocks.
For while around tho opening
Crucible Steel. Westinghouse, Amerl-
can Car and Foundry and some of the
Mexican issues We're higher, but these
gains all disappeared before the close.
Railroads were comparatively steady IN
the morning, only few issues getting
down more than a fraction, though the
carriers generally went back IN the
late break. o.,
United States Steel was very heavily
sold in the last hour and ended at its
lowest, a shade above S4 more than
points down on the day. Crucible
Steel, Baldwin and American Locomo-
tive. Mexican Petroleum, American
Zinc, Studebaker and American Car
and Foundry lost from 3 to . points
or more. One lot of Bethlehem steel
was dealt in early IN the day at go,
II points below Saturdays close.
Business fell away after the first
hour to a very small volume around
noon. but in the final dealings trading
was heavy. The days total in spite
of the dulness i'm the middle OF the
session was over 100000 shares.
There was little frmer tendency
I'm the money market, though this
hardly affected rates. Call loans were
renewed at per cent, which was the
ruling rate through the day. In the
investment houses there was much m
terest i'm the oversubscription TO the
syndicate underwriting the S15,OOO,OOO
. per cent Canadian loan. This is to
be offered I'M three equal parts, run
ming I'VE, ten and fifteen years.
The foreign exchange market fur
nishcd another new low price for Ber-
lin checks at rs, cents for four marks.
French exchange for 81 while carried
on Saturdays late advance, but re
acted sharply later, though London
exchange In Paris was lower.