New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-02-08
MARKET NEWS
AND COMMENT
Prompt Advance or Better
Outlook for Settling
LuSitania Case.
NEW STEEL MERGER
HELPS INDUSTRlALS
Dealings on No Large Scale and
Little Sign of Renewed
Public Interest.

The market made prompt response TO
the better prospect Of settling the Lusl-
tania question. Prices at the opening
jumped from fraction to or more
points. and trading sentiment showed
distinct Improvement: The better as
pcct Of our international affairs. how
ever. brought little new purchasing to
carry on the rise. While I'm many in
stances opening Gains were extended
the principal advances were IN the
more speculative portion Of the indus
trial list. Word of new merger III
the steel trade stimulated trading IN
the war group. Tho railroads. while
firm, were unusually quiet, and the
copper stocks made only slight response
to new high prices Tor the metal Tor
nearby delivery.
Dealings OF less than 100000 shares
during the session were at n smaller
scale than on any day Of the week pre-
ceding. and there was marked fall
Inc Off in trading IN the afternoon.
with the close rather dull. When ina!
settlement with Germany Is definitely
announced IL may be that II VIII be
followed By some pronounced increase
Of public interest in securities. Yes
terdavs rally was q limited rccogni-
ton bv the speculative element of tho
probable removal OF what IN the week
before had been disturbing clement
I'm the market Bond prices were
steady. but dealings on the exchange
were rather smaller than of late.
The companies Immediately con-
ccrned in the new steel combination.
Nidvale and Cambria. are not dealt IN
on the stock Exchange. Lackawanna
Steel. which under a former plan had
been expected 10 be merged with Cam
bria and the Youngstown Sheet and
Tube Company. broke about 4 points
al the opening. and after q little fur
thcr decline closed not FAR above ITS
lowest l. is understood Jhat the large
earnings of the company under proSen'
conditions made owners of the stock
unwilling 90 go into the proposed com
biuaUou az prices offered.
Other industrial shares were gen
orally strong Cruciblc steel. last
weeks speculative favoritc. closed frac-
Uonally lower Baldwin Locomotive.
which was dealt in more actively than
United states steel. was put forward 70
assum, the position that had been held
by Crucible. making maximum rise Of
ever points. At its best il was more
than = points above the low OF last
week.
Following announcement that the
committee representing the preferred
stockholders Of the international Mer-
camille Marine Company had been un-
able 90 come 10 am agreement with the
representatives OF the common stock
for . reorganization plan. the pre-
fcrred rose around 4 points and the
common ]. Both classes of stock, how
ever. lost part of the gain before the
close. Rock Island shares improved
more than point on a fairly large
amount Of trading. and the bonds were
more active than for some time, though
during market hours there was no
news Of any progress toward clearing
up the comnany's affairs. United
States steel. on dealings OF around So
GOO shares. rose over a point 20 above
~. closing a small fraction below its
Lest.
ln the money market there was no
pcrceptble change from the low rates
prevailing the week before. Call loans
were renewed at ia per cent, the low
cst. and - per cent was still the high
est rate recorded. Sterling exchange
was practically unchanged at between
1853 and 4.753s for demand. EX-
change on Paris was also steady, but
marks were irmcr