New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-01
MARKET NEWS
AND COMMENT
Railroads Under Pressure
as Some COppers and
War Stocks Rise.
STRENGTH IN A FEW
ISSUES TOWARD CLOSE
Days Total Smallest in Four
Weeks-Anglo.F French Notes
in Good Demand.

From overnight dispatches IT ap-
peared that our authorities were to
wait for further evidence in the pres
ent submarine cases, and apprehension
from this source was lessened. Prices
generally were frmer from the start,
though the upward movement did not
get very far, and dealings Of under
100000 shares we're the smallest in
about four weeks. Around noon word
came that it would be at least a week
before all the facts were at hand in
regard to the torpedoing of the Sussex
and a rise was started in the copper
stocks. Toward the close some of the
munition issues and coppers were ad-
varced with considerable vlgor.
The railroads were inclined 70 be
heavy most of the session. New Haven
was put under pressure first, and other
leading railroads were sold during the
noon hour while the upward movement
in coppers was in progress. During the
last hour an irregular reaction IN the
railroads was in marked contrast TO
advances In a number of speclaitles.
New York Central was heavily sold and
ended more than point down, and New
Haven at one time showed a 2-pont
loss. Elsewhere declines in the rail
roads did not reach any large extent.
Reports Of heavy foreign purchases
of the metal and announcement OF
large exports during the week made 1t
fairly easy TO advance some of the
copper stocks. kennecott. dealt In 10
total of over 10000 shares, more than
twice that of any other stock, led the
rise in the coppers. Anaconda got up
n fraction, but ended unchanged.
United States Steel kept above
Thursdays close throughout the ses-
sion and started TO rise about the be-
ginning of the last hour. its strength
contributing good deal to the irregu-
lar upturn with which the session
closed. 1t ended at its best, more than
a point higher. Crucible Steel got up
nearly 3 points in the final dealings
and Bethlehem Steel ended at 494, 80
points above Thursdays close. Bald
win and American Locomotive, Stude-
baker, Alcohol and Nickel all ended
with gains of a point or more.
The Anglo-French bonds we're in eX
cellent demand and were dealt in at
q
the year. Good purchasing by indi-
vidual investors. encouraged by the
prospects of the Allies, Is reported
from the bond houses. The new Cana
dian bonds were also active on the eX-
change at firm prices.
The month ended with practically no
change in money rates apart from the
placing Of some call loans at as high
as 2ia per cent. The principal Cont
mental exchanges were practically all
higher. Francs made some recovery,
marks were purchased and exchange on
Italy made an unusually abrupt rise,
though not all of this improvement
was maintained to the end Of the day.
Sterling held steady. The sterling
market is we'll under control. Heavy
exports such as the record total re-
ported from this district for February,
and the present high rate of shipments
have practically no effect on rates.
The reason, of course. is that great
proportion of goods sent to London are
purchased on government account and
financed outside Of the exchange mar
ket.