New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-27
Traders in a Hesitating
Mood - General Trend
of Prices Downward.
NORFOLK DIVIDEND
HELPS RAILROADS
Dealings in Reduced Volume
Weak Spots in War Group
French Exchange Up.

Having made up in the first two days
Of the week a good part OF the pre-
vious break on fear Of trouble WIN
Germany, the market settled back yes
terday TO await some more DEFINITE
news on the international situation
Trading fell off TO around half mill
ion shares and dealings were OF a pro
nounced professional nature. with
prices tending to work lower The
opening was irregular, fractionaiiy
changed from Tuesdays close, and IN
few instances we're there any impor-
tant advances later. Traders looked
for weak stocks and found few. AZ
the end OF the day losses Of from
fraction to point or two were falriy
general.
Tho railroads. in spite OF the ap-
proach Of conferences on the demands
from employees. did better at the close
than the rest of the list. This was due
10 late news that the Norfolk & West
ern had raised its dividend from the
annual rate Of per cent TO and had
declared an extra dividend OF l per
cent besides. This road stands IN sucn
an exceptional position for sustained
high earnings that hopes OF special
disbursements elsewhere in recogni-
ton of the exceptionally large reve-
rues being received at present brought
only fractional improvement 10 the
rest Of the carriers. Earlier in the
dav the railroads held fairly well. with
New Haven, St. Paul and Canadian
Pacific getting down point or so.
United States Steel failed to improve
en- the wonderful statement OF earn
inqs given out after Tuesdays close.
II opened with a fractional loss, and
was heavy all day, reaching low
more than point down IN the mai
dealings. This reactionary tendency
in Steel after announcement or such
good news had an adverse influence on
trading sentiment.
The war group furnished the most
vulnerable spots for attack by the
short interest. Baldwin Locomotive
was sent down points 10 a new low
for the wear, and Crucible and Stude-
baker were also under some pressure.
Alcohol and Distillers' Securities had
a little rise earlier in the dsy that was
not maintained. Mercantile Marine
certificates were quieter with the re-
port that interests which had been &C
cumulating the stock had completed
their purchases. Both common and
preferred fell back In the afternoon.
Profit taking. which had been gen
eral the day before, was continued yes
terdav, and there was little in the buy
/ ing TO suggest that the outside public
/ had been in any way aroused ~ Inc
speculative enthusiasm of traders ear
/ lier in the week. Though the attitude
of tho market. and so far as can be
/ Judged the country at large, seems
more hopeful of some settlement OF
our dispute with Berlin, the situation
! is still critical one and need for eau
ton is recognized. The uprising IN
Ireland was absolutely without direct
effect on the course OF security prices
even the Anglo-French bonds refused
to repeat Tuesdays dip below %.
The money market held firm, call
loans renewing at 2i2 per cent, rs on
/ the dav before Exchange on Berlin
showed further weakness, while French
/ exchange rose with some vigor in rec
IGNITION Of more active preparation
/ for the coming French loan.