The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-24
FINANCIAL NEWS
And COMMENT
Mexican Affairs q Factor of
Restraint on stock Market
Activity.
MOVEMENT IRREGULAR

That the various matters which have
usurped u large share OF financial at
tention lately. ranging all the way from
the question Of the technical position
| of stocks and the effect Of high general
| prices on the trade and industrial pros.
| pect to the suggestion Of peace abroad
and the possibilities Of a Mexican war
AT home, made for a waiting attitude
in wall street was indicated further by
Yesterdays Stock Exchange session
Controlling convictions in important
| quarters are shaped by confidence In the
| profitable progress Of general business
enterprise on the basis Of the financial
| and commercial Strengthening which has
| resulted from developments In the last
wear or more. The other subjects OF
notice, the posture of the European war
and the state of our Mexican relations,
denote factors of temporary uncertainty
and IL is not surprising that The Stock
Exchange this week should run into a
decline of trading.
Transactions yesterday were In the
mos, contracted volume OF the week. and
this was the chief feature OF the mar
ket. The course Of prices was irreg-
! ular. but without Underlying weakness.
| Softness was marked in some descrip-
| lions, principally the shares of corpora
| tions having a property or business in.
terest in Mexico. but for the most part
quoted values offered resistance to sell.
| Ing. Pressure was prevailingly In the
nature of professional speculation fo'
| the decline. but even this was not par
ticJlarly aggressive.
So far as the chances of An early
termination Of the European war arr
concerned, il is bviou that the adverse
implications supposed to he involved II
the factor of change from war tim'
conditions had narrowed down to pro
f~essional trading beagtshness on the wa
munition specialtics. Even these stock
acted ss though the assumption Of dis
NAL involved in the return
of peace was not enthusiastically cred
tied by b"aTish operators. The MeAi
can situation appeared indeed TO be
more immediate influence In restraint o
trading because Of the more dubiou
phase OF our punitive undertaking de
lineated in the overnight advices an
reports during the day. So FAR a
regards the ultimate contingencies OF III
MEXICAN lmbroglio. 1t might be pointe'
out tina wall street has all along bee
moderately skeptical of its promise u
easy disposition. and has perhaps bee
more or less prepared therefore for III
worst conjectural outcome.
In the routine news budget there va
included the declaration Of an initia
dividend on the Inspiration Cope
shares AT the annual rate Of s. "a share
which was above the limit Of conserva
tive expectation. Reports that the Hol
land-America steamship line, In whicl
the International Mercantile Marin
Company has a substantial interest, ha'
declared "A 80 per cent. cash dividend ad
yertised anew the extraordinary profit
which are a"cruing in the ocean carry
ing trade. II was announced that tn
'uba cane sugar syndicate had bee
dissolved and that all shares OF III
company hitherto bound by II had bee
released from the restrictive agreemen,
Tho February report Of earnings Of IN
southern Pacific seemed TO contain som
evidence of the effect which the In
creased cost of materials Is producinI
on expenses. At all events, while gros
earnings Increased more than S1.1o0.
coo, tho increase in net Was a little les
than S23O. Voo.
sterling was firm in the foreign ~
change market and francs were YEA
a. about the lowest level Of the veal
Marks were slightly firmer.