New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-23
War Stocks Break Badly
and Whole List Goes
TO Lower Levels.
DEALINGS HEAVY
FOR SHORT SESSION
Further Liquidation on Grave
International Outlook
Bank Surplus Of.

international affairs looked worse
instead Of better after the holiday ana
instead Of the rather quiet two-hours
trading which had been looked for
there was heavy selling Of stocks that
cent active issue down to 10 points
The support that had held prices SO
well on Wednesday and Thursday was
extended less generally, traders sold
short 10 force out stock on stop orders
and there was a good deal OF hquida-
ton from out OF town. While as
earlier in the week. the speculative war
group furnished the most spectacular
losses. railroads and coppers fell osek
"a well. During the two hours o.
trading nearly 100000 shares changed
hands. the largest Saturday seen since
the break in war stocks last OctooeI.
The DAY started with heavy oHeIlnss
At lower prices and the market WeaN-
sned until at the end Of the hrSt houI'
Yepurchssing by the snort lhlsIeSt
csnsed a temporary rally. The volume
81 business was greater in the second
hour. with further heavy losses IN spite
OF another slight rally. Many issues
reached their lowest 81 the end OF the
dsv and selling was heavy hight up TO
the close. Nj.
Concerns with interests in Mexico
were particularly singled out for az
tsck. reports Of cancelling Of conces-
.ions adding 10 the disquiet. Mexican
Petroleum made a maximum loss OF
more than 10 points. American Smelt-
Ing and Refining closed nearly points
lower and Greene-Cananea Copper
about s. The copper stocks did not
prove so steady as they had IN preceo,
inc DAYS Of weakness. Anaconda closed
with a point loss after some recovery
and less active coppers went down
Reading and Erie among the rail
roads were fairly heavily sold, Ere
losing more than . points and Reading
over Other standard carriers Tell
hack a point or so on comparatively
anal amount of offerings. United
States Steel, on dealings lnvo wing
about $4,000 shares. was the most &C
tive stock. 1t declined nearly points
70 so. ending a shade higher.
Baldwin Locomotive at Its lowest
was more than points down. Crueioie
Steel lost over 7. Studebaker ana Al
cohol around s. On the week the war
stocks were down around 10 and ~
points. with Bethlehem Steel more than
Is points below its close Of the Satur-
dsy before and General Motors 20:
Such news as was received from
Berlin seemed 10 make improbable any
Modification OF the campaign under
water sufficient 10 meet our demands.
More and more, views from all over the
country seemed 20 lean 10 the opinion
tina. not only a break in diplomatic IN.
fercourse but an actual declaration OF
war was 10 be feared should Germany
persist in illegally endangerlng the
lives Of our citizens. The Mexican
muddle seemed no clearer. and a re-
minder that trouble might come on ous
Western frontier was provided IN the
revival Of the dispute with Japan over
the question OF immigration.
No great changes in the banking
rosition here appeared in the Clearing
House report Of conditions yesterday
morning. Loans expanded sI,5OO,OOO
but demand deposits were reduced So
600 900. Total reserve was around ga
600 900 lower and surplus dropped not
quite 100000 10 under SlOO,OOO'VOO
again.
Customs figures for February showed
further large shipments 70 the Allies.
In the eight months or the fiscal year
we have sent 10 the United Kingdom.
France. Russia and Italy, goods valued
AZ nearly 81, 100000 900, against around
$3.50, 100000 the year before. Imports
from these countries in the same peri
cd have increased only about $4,000
600 While it may be that our active
participation in the struggle. against
Germany might not increase this great
outgo o. supplies. II might well be eX.
pected 20 make easier the terms OF
payment.