New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-01-19
Bear Selling Brings Out
Little StOck-PriCeS
Rally at Close.
NET DECLINES or
SMALL PROPORTIONS
Lowest Levels Generally Below
Those of Monday Railroads
Practically Neglected.

Stocks went a lit;ie lower yesterday
than they had on Monday. but selling
pressure was not heavy and losses on
the day were generally Of fractions
For the most part the list was quiet and
moved in a narrow range. wide fuctua
,iors being principally in few Of the
judustrialS. There appeared no disPo-
sition to bring the market out OF It's At
titude Of hesitation. and public inter
est was slight. The professional ele-
r,ent from time 10 time tested the
stability Of prices with bear pressure,
bringing out no large amount OF stocS
and finding prices rally fairly well
Business was OF about the same amount
as on Monday, quiet in the early after
noon and expanding toward the close.
In ,he final hour a professional RAID
was followed BY considerable recovery
that left active issues up from men
lowest. Industrial Alcohol. OF when
the floating supply Is comparstiseIE
small. was rapidly advanced IN 'Hc an"
tho dsv and net gain of $. Mercantile
Marine common and preferred certi-
fcates sCain led in the volume. OF trad
mo, advancing a little in the forenoon
but ending fractionally lower Reports
frat a REORGANIZATION plan has been
agreed unon by the different commit
tees interested in security OF the com
panv again met denial.
c4orkS and other more NpfCl-
latiye industrials proved most suseepl =
bic TO bear pressure. Cruclple T ;,
American Locomotive. Studebaker. BaId-
win Locomotive and Mexican Petroleum
Welded during the day, but mace some
yecovery before the close. Inc hIm
market for the metal did nothing TO IN
nroye the market position OF copper
stocks United States Steel with
fractional loss. failed to show any
agreement by traders in expectation OF
Tie dividend action next week. Kali
roads continued unusually quiet, iea'
that large arrivals Of our securities
sror, the other side might mean a con-
siderable increase M offerings prevent
inc any important increase OF tradlhg
in these issues. ....-
If the attempt BY more conservative
brokerage houses 20 excite more inter
est in the railroad list IS 10 ne success
hi tho next two weeks. IN which De-
cember earnings of the principal lines
arc 10 be reported. would seem TO fur
nisb favorable opportunity. Gross re-
CENTS in December have been unusu-
allv large. and there are indications
that operating expenses have oeen sun
kept down and that net earnings VIII
continue the remarkable expansion OIL
recent months.
After this railroad traffic for the
frst quarter Of the year may De expect
ed 10 show the falling of customary AT
the season. Record breaking gross
earnings are not 20 be looked FOR aiter
60 great a proportion Of agricultural
products have been moved from the
farms and the rigor OF winter mas se'
in. In the first three months OF last
wear there was considerable progress
shown in making railroad expenditures
conform 10 reduction in business ana
net did better than gross, when should
affect the comparisons 20 be presented
A little easier tendency appeared IN
funds for market purposes yesterday
Call loans were not made higher tnan
IL per cent for the first time IN
weeks. but rates on time accommoda-
ton were about the same as the day
before. Sterling exchange was a trliio
higher. Some gold continues 10 come
here 20 strengthen the market. 81 .oUu.-
600 being received yesterday. and SOTO
GOO being released for our account by
the Bank Of England. German eN-
change lost q good part Of It's recent
recovery.