New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-27
Trading the Smallest for
Weeks - No Definite
Trend of Prices.
COMING HOLIDAY
LIMITS DEALINGS
Railroads Quiet and Heavy
Industrials Irregular-More
Gold Arrives.

The securities market did little yes
terday. Interests behind :sc recent
rise contented themselves with dis
tributing a little more stock and
smaller traders found it difficult TO
start any important movement With
Tuesday a holiday and tomorrow
short session there was not much dis
position 10 make new commitments and
the advance that started last week
seemed for the time to have run its
course and completed its reaction.
The days total dropped to less than
4oO, 900 shares, the smallest for more
than six weeks. and in the afternoon
trading was on an unusually small
scale, with the ticker frequently COM
ing to a standstill. United States
Steel, which the day before had given
signs of starting new move, was
dealt in to the amount Of only about
10000 shares and ended fraction
lower. The address of the chairman OF
the Corporation TO the American Iron
and Steel Institute, in which he an
nounced that daily bookings generally
were larger than the total producing
capacity and that mills had orders on
hand sufficient TO keep them busy well
into 1917, failed to stir the market.
Announcement of increased dividends
BY a subsidiary of the Southern Rail
f~nN va l.
road list. Since the carriers in the
South were particularly hard hit when
cotton markets failed because of the
war abroad. this evidence OF recovery
merited more attention than il re-
ceived. Among the railroads Reading
was still active, holding above its close
of the day before and rising more than
two points in the forenoon. 1t ended
with a gain of a considerable fraction.
Lehigh Valley got up point. but else
where the transportation issues we're
heavy on a small amount of business.
Before trading fell off there were
attempts to advance a few Of the in
dustrials. Some of the automobile
stocks were taken in hand and the rub
Der stocks improved for while. The
war group was irregular. Baldwin Loco
motive slipping back under some pres
sure, and the zinc stocks we're weak.
The coppers were dull as ever.
Overnight consideration Of the in
tention Of the British government TO
tax out our securities brought the re-
Election that there was no reason TO
suppose that issues so obtained would
in any large numbers reach this market
save through the same channels by
which they have been distributed here
in the past and this at least means that
there will be no inconsideratc selling. In
the meantime another shipment Of gold,
amounting to s2,25O,0O0. came from
Ottawa.
Trade reviews at the week end con-
frmed the impression that \ more eau
tious spirit was abroad in the coun-
try's general business. Buying is be-
ing done on a more reasonable basis
and goods on hand are being kept down
to small proportions. Whether the
present discussions Of peace POSSIBLE
ties here and abroad have much basis
or not, business men recognize that
passage of time has brought the end of
the war, with its adjustments, nearer.
So far. it appears, this more conserva-
tive attitude has not gone 60 far as
materially to reduce final d stribution.