Arizona republican., 1916-08-31
FINANCES AND MARKETS
TRepubIican A. p. leaseo WlreI

NEW YORK, Aug, 30.-(Wan Strcet)-The railway labor situation was again the all-absorbing feature of today's market but prices suggest cd that Wall street still has confid- ence that a strike will be prevented. Quotations were mainly. and in some instances, materially lower at the opening with complete recoveries and few actual gains at midday.
 Mercantile Marine issues made new records the common advancing S4 points to 43% with an equal gain for the preferred al 1.049s. Combine dealings in marines amounted to about 172, GOO shares, or 25 per cent of the days business.
 A new maximum was established by Kelly Springfield tire. which rose i1% to TEA.
 Rails and United States Steel were covered some of their losses when selling pressure relaxed. Munitions and related stocks closed at irregu lar declines Total sales amounted to 6S0 060 shares.
 Prevailing industrial prosperity was denoted by the restoration of Amer 1 ican Locomotive common shares to their five per cent dividend basis after eight years of suspended pay ments, and the reviews of trade au thorites which reported an unabat ed inquiry for steel and iron pro- | ducts.
 Ruhles were again the sole feature of the dull foreign exchange market. Irregular changes were noted in the bond market with heavy trading in Anglo French lives. Total sales. par value, $2,S70.00O.
 United States bonds were rn- changed on call
 Chicago Garin i CHICAGO Aug. 30.-Wheat prices reeled heavily today under the strain of active preparations for a general stoppage of railway traffic, and es- pecally because of notice that an embargo against grain for the east and for Europe, would begin to take effect on one of the principal lines within IS hours. The market closed unstable, 4Ac to 4%c net lower with i September at s1.3SA to s1.39B and December at s1.421a to $1.42%. Corn finished hc to 5sc down and oats off &ic to 1 b c. In provisions the out come ranged from 21ac decline to a rise of 35c
 Strike developments almost com pletely monopoliZed the attention of the wheat trade Material declines at the opening were temporarily dis pelled by reports that President Will son was attempting to arrange a post2onemcnt of the enforcement oi the strike order. but the immediate price recovery that ensued gave way later when denials were forthcoming from officials of the railway employ es organizations that no change ir the strike order would he made un- less the demands of men were satis- fled.
 Worse weakness followed announce ments just before the close that the Pennsylvania railway without wait ing for the threatened strike to open would cease on Saturday the accept ance of any freight whatever. II some cases, the fall in wheat quot ations reached as low as SAC g bushel as compared with yesterdays finish Violent swings were in prog ress as tie gong cleared the pit.
 Corn held relatively steady, but reflected the action of wheat. Oats had no independence of other cereals
 In the provision trade it was diff cult at times too but without causing sharp advance. As rule heavier bulges failed to hold. Close:
 Wheat-Sept. s1.3S%; Doc. s1.42R
 Corn-Sept s5lkc; Dec. 72Mc.
 Oats-Sept. 44c: Dec. 46%c.
 Pork Sept. s2745: Dec. s22.5a. Lard-Sept. s13.s7; Oct. s13.s2.
 Ribs-sept, s13.42; Oct, $14,o0,