New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-17
Fitful Advances III the
Industrial FavOriteS-
Late Reaction.
EXCITED DEALINGS
EARLY IN THE DAY
Some Issues Rise to New High
Prices for the Movement
Railroads Quieter.

In another day Of large dealings
industrial specialties were rapidly ad-
vanced and then fuctuated in irregu-
lar fashion. In some cases new hlgh
prices were reached for the present
movement. but there was good deal
of a setback in the last hour and the
close was we'll under the best. Spectacu-
lar rises in favored stocks are beginning
10 yhet the public's appetite, mere
has. however, been great dedi OF u'9
;lIusionment as 20 probable prohts since
,nr,ition contracts first hndled mag
;nation wear or so ago. If such ac-
tivitv as has been displayed TINS week
con no continued for a while longer
il may bring in the public following
which less stable issues still lack. As
vet. however. the effect Of this adVcr-
tisement of the market is uncertain
Opening gains IN many instances
we're large yesterday, and a lew ISSUES
rose I'm spectacular fashion Tor DrleI
pcriod in the early trading. New
leaders were brought forward as the
old ones Jagged, but around noon there
was some general tendency toward re-
action. Business slackened IN 'he
later trading. with second perlod OF
proft taking around the beginning OF
the last hour and irregular movement
at the close.
The railroads were less favored than
on the two days preceding. but held
fairly steady. and copper stocks IN
few Instances improved, but their gains
were not large. Reading was much
ouieter and ended unchanged. Cana.
dian Pacific was weak, announcement or
a S75.OOO.0OO loan 70 be placed here by
the Dominion and further financing at
home calling attention TO the increase In
war debt in Canada that must add TO
the burden Of taxation there.
Crucble Steel in very heavy trading
was rushed up points 20 within
fraction of par in the forenoon, but fell
back later. other munition stocks and
some Of the automobile group made
vigorous advances for a while. Can
became active around noon and moved
up more than points TO its best Tor
the year Westinghouse after early
strength closed q fraction lower. Col
oradO Fuel was strong at the finish.
United States Steel came forward as
the most active issue and rose more
than a point TO above 81 in the morn
ing, but closed holding only trife OF
its gain.
Developments outside the market re
ceived slight consideration. Sinking
Of Dutch passenger vessel and arrival
here of an unarmed transatlantic
liner with news of a submarine at
tack without warning in the Mediter-
ranean failed to influence the early
trading. In the afternoon rumor
was spread on the floor that a French
liner carrying Americans had been
torpedoed and this helped the late
decline.
French exchange fell further, reach
ing the lowest since last September,
when. before announcement Of nego-
tiations for placing the Anglo-French
notes here, Paris checks sold at a low
rate Of more than six francs for
dollar. In London the weakness Of
French exchange was reported as sug-
costing need Of gold shipments from
across the Channel. Apparently the
proposed sale of French owned secur-
tiles in London has been postponed.