The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-09
FINANCIAL NEWS
AND COMMENT
Prices Run an Irregular
Course in the Stock
Market.
RALLY FROM SETBACK

There was an irregular price move
ment In the stock market yesterday
which did not. however. chanee the re-
cent Indications that the share list had
been restored 70 "A much more stable
status by the reactionary and liquida.-
ing processes ~ the winter. II any
thing. the implications to this erec.
wee confirmed by the ability which
prices d'spla,e d TO recover quickly and
easily from depression. Trading was
maintained o. the sca,e 90 moderate
activity which has preva''ed for several
days past.
No tendencies were exhibited in the
early dealings. Offerings were In i!gh,
volume. On the other and IL has been
a characteristics Of recent buying that II
Az a''ed recess.ons and there wal a lAci,
or any evident demand FOX stocks.
ProHt taking sales produced enough
heaviness 20 encourage professional
tNders 20 apply pressure for the de-
cline n numerous descriptions sus.
,ained a substantial setback by the
early afternoon. II was clear. however,
that forcing quoted values dow did mol
dislodge stock. and when u short COW
er!ng movement started the marke,
turned swiftly and rose rapidly. dis.
playing n good deal OF strength toward
the close.
The feature OF the session was the
afternoon recovery. with It's suggestion
~ tho decided Improvement effected II
the technical position OF the market In
the last few months. Purchasers ex.
tended most favor 10 zinc and other
metal stocks and ~ az assortment OF
Industrial specialties. but aggressive
iirmucss was displayed by some stand
ard issues. notably Reading and United
states steel.
II IL a question what; part ~ any was
played In the days dealing by the over.
night tdvic.s from the European var OF
from ashiugton. Wall Stree; read the
military dispatches IN the morning and
during the day TO mean that the German
Offensive around Ncrdun was compelling
a stubborn and slow retirement by thu
French. but the war news j. sOmethirg
which the financial community has Ions
hcs'tated to relate To the prospect foi
values. Moreover the signs of a possible
approaching collapse OF Turkeys bel
l%gcreucy furnished an Offset 10 the re-
ports from the western front.
As for TIE outcome Of the Congress.
siunal uphcaval over the issues OF sub.
marin. warfare. there was naturally a
feeling 81 qualification that the Govern.
m"nt has been able TO avnid an appear
3uee OF division in a matter OF foreign
policy. There was. however. no disposi.
ton 10 infer too nuch from the ter.
' U.uttion of the sNiS.ve proceeds, gs IL
Congress. The most cvid. nj feeling wa.
ou" 90 rclirf Tat a disturbance which
bad clearly been very much owing to do
r,,Stic politics lad subsidized. Toward
TIE, end ~ tn" day the stock Exchange
Bid indeed seem 80 make a response Il
= Joi'S suggesting that in the sequel {,
7 such support rs congress lad given tht
Executive the Administration WAS prose
cutting diplomatic negotiations which had
!, better prospect of reaching an under
standing cnuIuc We To- a decreased risl
co. serious trnIpl".
~ important stem -! routine news wa,
/, 'r, tioNcr" uieUt report showing not onlS
satisfactory but relatively huge farm re
. r'c> ~ the principal cereals. Attcn
ton Vas attracted 10 the foreign ex
change market by the further display oi
Wtt.rcss m German bills which %C1rriet
th.Ir f~rtcttnnally under the previous low
level reached early IN January. All eN
plantations of the fall in marks are
summed up In the fact hat there IL 1T.
tie demand for them. = circulnstanC
which may have some significance bear
irg on the German situation In the war.