The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-25
FINANCIAL NEWS
AND COMMENT
Some Ii. ton in Stocks
Caused Washington
Situation.
RALLY IN LATE TRADING

market yesterday at a moderate scale OF
increase and at the expense Of the price
level. Declines Of a rather substantial
extent were forced in the forenoon, but
there was a partial recovery before the
close. The afternoon dealings lacked
the excitement OF the morning and the
list displayed greater steadincss. II
was noted also that even AZ the lowest
figures stocks ranged materially above
the extreme Of reaction reached on Ian
uary 81. the bottom SO far for the year.
There was only one principal factor In
the prevailing price movements. This
was the alarmist nature Of the overnight
dispatches from Washington setting
forth the indications Of q division In the
ranks Of the Administration party In
Congress over the questions Of foreign
policy involved in the Lusitania con-
troyersy and the problem presented by
the new programme Of submarine war
fare which Germany has promulgated to
take effect on March !. The financial
community found II difficult TO believe
that Congress had reached the stage OF
revolt against the Executive which was
so luridly depicted. but the representa-
,ion OF chaotic conditions at Washing
ton was disturbing enough TO account
for the liquidation which took place IN
/ stocks.
Toward the ord Of the day political
adNic"s were .omcwhat more rcassur-
iug. but during business hours opinion
/ and sentiment in the financial conrnu-
nifty were more confused than at any
time vet rcrardiuC the diplomats stu
alton. complicated as II has been by the
demonstrations ~ disturbance in Con
grsss, and III" ultimate bearing or the
whole matte: OF the prospect Tor values
What was manifested III Wall street
however. was the effect ~ a feeling al
fresh uncertainty rather than acute ap'
prehcnSion respecting the outcome "'
the negotiations with Germany. There
was no apparent change IN the funda'
mental convection that both Washing
ton and Berlin wer. concerned III Ell
forts TO avoid a breach of relation
which might readily involve more dis
astrous consequences.
All the Indications presented by tn
dealings In stocks were OF l~iquidatio'i
from relatively un!mportant quarter
and Of quiet absorption of AN eXce,len
character. Selling from weak margii
traders was accompanied by furth'
! bearish efforts on the par, OF IN" pr"
fesSional element. and in The for" par
of the s.SS. ON prices were supported ON
at cNtcrsiN" reccs>ions. In 'he carr
afternoon mere was a significant slack
cutug ~ pressure. and the covering q
short commitments induced "A lttc "A
around rally thereafter. On tho wn"'
the market WAS far from being as wed
A. might have been expected under IN
circumstances. especially IN view or "A
the adverse comment passed upon
7 lately. which has attributed to II a pei
sfsicui impairment of III" technical pos
- ton because of the long unresponslN
mos of s,ocks to the higlly prcntab'
activities in the field of general bushes
In the course OF the afternoon u
trend II Washington ruinor or informs
,ion constituted Il forecast or a h"tt'
turn IN the overnight news relative
the matters which occupied fnanclal "A
teution almost exclusively. IA cor
tiuu,nC successes reported from the ne
German offensive on the western iron
Of the war did not receive much not'
because Of Wall Streets prcoccupatiu
with the Washington situation. Al y
same time the served to qualify opt
mistic confidence In the outlook Tor Z
immediate settlement o! information
ANTIQUITIES, because 1t was thought IN
the Berlin attitude toward Washinstf
might he proportiouatcly stitched
!. Accompanying the liquidation and d
cline In stocks were similar manifest
tious in the commodity markets. 'ott'
" fell "A dollar il bale. making a total ar,
of about $40 from the high price OF u
seasou. Grain broke . To : cents
bushel. carrying the loss from the -"
sons maximum t. an extreme OF "hn
90 cents. The heaviness Of the Augl
French bonds was ~variouSly assigned
the reports of German victories ana
In, pu I'ont dividend. hut hints III 10
don dispatches suggested another 'au'
a .ordiuy to these limitations the
= was some prospect of n new dollar 10
Z. ns part Of the British t;overnmen
" mobilization OF American securities.