The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-27
FINANCIAL NEWS
And COMMENT
Standard Stocks Decline In
Weak Market on Mexican
Developments.
RAILROAD GAINS GROW

Declines Yesterday were more violent
than any OF those which the market
has experienced since the Mexican situ-
alton became acute. Until yesterday the
breaks were confined mainly to the more
speculative issues and TO those stocks
In which an unsettled position had been
created by pool operations. Yesterdays
weakness extended throughout the list.
Many new low record prices In the pres
on, movement were established, and II
.e behavior Of stocks IA n ind'ca-
ion Of the speculative position II would
appear that the bottom had not yet been
reached. There were no panicky breaks
in any stocks. with the exception Of the
Corn Products issues. which were ad-
We sely affected by the decision In the
Government suit. Recessions In prices
we're steady but orderly.
The over Sunday developments as FAR
AZ the news was concerned we're all ad-
verse to speculation on the long side
and The shor, interest found much In the
morning papers gu, OF which TO make
bear capital. The more threatening as
NEG. ~ the Mexican situation naturally
furnished the major part Of the incentive
for selling stocks, but the totally uh-
expected adverse decision in the Govern
ment suit against the Corn PRODUCES
Refining Company was enough to AID
In unse,tling prices and further the wave
OF LIQUIDATION. For the first time since
the Mexican situation began TO play n
prominent part In the stock market com
mission houses appeared willing to ad'
mi, that real liquidation In stocks wa:
under way. There was no attempt tc
cover UP the fact that there was a grea'
deal OF selling by accounts In which mar
gin had become weakened owing to I'M
! fact that clients ether did not have NOR
| cash with which TO protect their specula
lions or did not are 10 follow prices an!
further down. -.
Such Developments a. Col. Roosevelt
announcement hat he would not run OF
a third ticket and that he wanted III
Progressive party to throw Its supper
to the Republican candidate for thu
Presidency, Developments which In othe
times would have been the signal for Al
advance OF several points, went un
noticed In yesterdays market. On tn
+ oih,r hand, the Wall Street mind seemed
IN n receptive mood for all sorts o
rumors on the adverse side. Reports o
4 Government bond issue. rumors tha
,he President was about TO call for $50.
400 volunteers and stories OF more fight
ny on the border. all OF which wer
without foundation. received credence.
Favorable railroad earnings state
vents continued to make their appear
ance. hut were without market efec'
The statement Of the Atch'son. Torek
and Santa Fe for the month OF Ma
: and tho eleven months ended May g.
1916, continued TO ehow satisfactory In
creases. The operating income for tn
month o. May showed an Increase G
~sl.t-4,S5o over that Of the same mont
las. year. Fer ere eleven month. ecde
May 81. 1915. the operating income c
s.onT7,T15 showed an increase {
s6.976,6iS.
The Canadian Pacific earnings for N
third week In June were also Favorable
while the reports OF many Of the smalls
lines. both In the United States and Car
ada. showed Improvement.
Although the belief continues that "
shall soon experience tighter money thei
was no stiYening IN the rates Yesterday,
spite OF the talk OF a Government bon
issue. Foreign exchange was generall
without feature and for the frst tin
IN several days there were no gold r.
ce!pt. at the Assay Office from Ottaw,
The London market Was quiet ar
sentiment IN that financial centre WI
generally cheerful. Consols hardent
somewhat In spite OF the continued frn
nose ~ the British money market.