Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-06-18
MARKET SESSION
SHORT AND DULL
Recessions Shown, Ranging
From Fractions to Points,
in Leading Stocks.
TOTAL OF GOLD IMPORTS
PLACED AT SGT 100000
Partial Recoveries Noted, But I'm.
dertone Inclined to Heaviest.
Iron and Steel Review.

NEW YORK June 17.-There was little
m today-s short and dull session to justify
extended or specific comment. Prices Of
leading stocks receded from substantial
fractions to a point. under the adverse in
huence Of the Mexican and railroad labor
situations, while certain specialties, nota-
bly, Mexican Petroleum. New York Air
brale, General Electric. Pressed Steel Car
and several Of the other motors. were
lower-by to points. Partial recoveries
from these levels occurred before the
close, but the undertone was inclined
to heav1ness. Total sales of stocks
amounted to only 100000 shares.
Inflow Of gold from Canada amounted
to $4,000. bringing the total movement
from across the border up to $61.500. 900,
and another small export of the metal
to Cuba, presumably in connection with
the sugar industry. was reported:
Mercantile agencies noted further
tain lines. but trade in general is
booked up for many months to come.
Prices of various products. following
the tendency of fabricating iron and
was n further shading of exchange
rates on Berlin and Vienna, a condi-
tion naturally attributed to the defeat
of ne Austrian forces in the Russian
fuaiiy unaitered With light dealings.
xAIling or In Bank Loans,
Eh0Denk statement showed further
feAuoe4on Of actual loans. which de-
creased by moro than $4,000. 900. with
q gain. Of as much in cash and an in
crease Of about 81 100000 in excess
reserves. bringing that item up to al
most 1sA0oo.0oo. a. against $5s.ooo.oo0
early IN the month.
A,narrow and irregular tone ruled in
the bond market, with further reduce
ton Of offerings Of the Anglo-French
issue which made slight recovery. To-
tai sales of bonds (par value). $3.50
900. United States Is and Panama 3s
declined \ Per cent on call during
The political conventions and their
fairs and the course of foreign events
in their relation to the financial mar
kets passed in review before Wall
street this week. The latter was re-
niAcant. BY reason of the further de-
mands which are likely to be made
upon this country's banking resources.
Foreign Borrowers Active.
Consummatfon Of the ffty-mi1lion-
dollar Russian loan under novel condi-
tions and upon highly attractive terms
was followed by well defined reports
of further undertakings for England
and France. which contributed in part
IS at substantial concessions. 1t 10
understood that the French negotiation
Is well toward completion. the chief
obstacle evidently being the unwilling
ness OF our bankers to accept the Sc
curity offered by borrowers.
As for q direct British loan, II is au-
thorftatively stated that matters have
not yet passed beyond the stage of
informal discussion. Meantime, exports
81 me, mslo ~ .as and war supplies in
allies continue In stupendous volume,
and the movement of British gold from
Canada to this center has swollen to
about 100000. with a resultant stiff
Mexican Situation Perplexes.
Financial interests realize that the
Mexican situation is again a critical
one. but seem hopeful of a settlement
without resort to more drastic meas
urea Securities Of foreign companies
operating IN that republic denoted
greatest depression in the lower quo
tattons of the final session of the
week.
Interruption Of conferences between
the railroad managers and their en-
pioyes was reflected in heaviness of
rails. but this was partly neutraIized
by the restoration of dividends to the
rates existing before the outbreak Of
the European war by Louisville and
Nashville and several less important
lines.
The stock market was wholly in the
hands OF the speculative element
stricted by impending uncerfa intiea