The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-15
FINANCIAL NEWS
AND COMMENT
Further Strength in Stocks
and Trading in Excess of q
Million Shares.
ADVANCE WE'LL HELD

Recovery in stocks. which in some cases
wa advanced to new high prices or very
close 10 former high figures. was carried
further yesterday In the most active ses-
sion OF the year. Transactions agere-
rated we'll IN excess OF a million shares.
and It is an interesting Circumstance
that whereas just a fortnight ago heavy
liquidation AT the bottom Of the decline
for the winter movement exceeded 2.ooo.-
900 shares for the three days in which
the market was establishing It's founda-
tons. the dealings for two days this
week have run 90 similar totals on a
very extensive upswing of quoted values.
About one-third Of yesterdays trading
occurred In the first hour. Tie pace
~slackened thereafter. but although realiz.
ing was conducted on "a liberal scale. re-
| markable absorptive capacity was de-
veloped. The list enjoyed a broader di.
v~crsihcat,on Of interest II was sup.
ported by buying which widened beyond
the professional operations that have en-.
tered so largely into the recent chang
of market tendencies. Tho vigor OF early
strength could hardly be maintained. but
on the whole the Improvement OF prices
was persistent until the asst hour. Ths
/ market Nltn SUN VII III IlOSI ultCttloIfo
although with u few conspicuous ex'
ceptions.
some reaction from 80 rapid an eNpan
sion WAS certainly indicated, especially
IN view Of tho volume OF profit takinl
sales. hut pressure. instead or increasing
In the late dealings. tended TO Diminish
as prices receded. Moreover. decline
from the best figures were moderate anc
a substantial net gain was shown on thu
-... - "a A. INA- .sNh ehA ana H1ox
firm. Features were supplied by niiscel
lancous representatives OF various de
partmen,s. Bethlehem Steel and West
inIhouse Electric were among the lead
org Of tho war munition shares. United
States Steel. Union Pacific and Readinl
were conspicuous non the rails ant
standard industrials. Copper metal II
sues we're curiously laggard.
Encouragement Of a negative sort 20
constructive activity was supplied 20 TIL
wall Street community by the continue
ton ~ advices suggesting hat the Ger
man offensive in the European war wa!
e~ncountering erea, difficulties. So IA
a. concerned Mexico there vas a NOR
hopeful feeling that Washington diplo
macy might ba effective in limiting mill
tary Intervention to the punitive expedi
ton in pursui, Of Villa and his bandits
However. these matters did not ente'
very much into stock ENChaige cAlcuia
tions.
Explanations Of tho stock market wer
in the main provided by the genera, con
siderations which have recently tende'
to emphasize the solid facts Of the profit
able trade and Industrial situation AM
prospects, as compared with conjecture
apprehension Of "a political nature. Their
was very little in the way Of striking
news bearing on business conditions. bu
attention was attracted to the
report Of the Cambria Steel Company
which Is IN the process Of absorption b
the Mldvale Steel Company. The repor
showed net earnings last year ava!labl
for dividends more than three times III
earnings of the year previous. state
men,s that more munit!or orders were !
! negotiation were received with som
credence. In the foreign exchange maj
ket German bills rallied fractionall
after declining to a new low level.