New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-15
Stocks Uncertain, with
Tentative Operations for
an Advance.
GOLD BROUGHT IN;
STERLING STEADIER
Call Money Easier-New Check
Collection Plan DisturbS
Banking Custom.

cent violent movements, came nearly to
a halt last week. Our protests over the
attack on the Sussex had failed TO
bring the threatened break with Ger
many. but on the other hand there was
no assurance against further troubles
over submarines sufficient TO remove
her fear Of future crises. Mexican al
fairs assume a more ominous complex
ion. as the national guard was called on
TO protect the border In addition ru-
mors Of peace in Europe, which must
from time to time disturb business
plans based on continuation OF war,
were revived, and for day or two re-
ceived some credence.
Trading in stocks fell into the vacil-
lating uncertainty seen before the Sus-
sex affair came into prominence as the
dominating market factor. Dealings
were mainly without public support
large interests did not encourage mar
ket movement and traders were unde-
cided. Business went back 70 around
400. 900 shares day or so, which, when
the large list OF issues now traded in
is considered, is a small total
Toward the end of the week the pro-
fessional element made some tentative
motions toward starting operations for
rise. Rumors Of ordnance orders
from abroad were brought out again,
mergers we're talked OF and demon
STATIONS against the short interest IN
selected stocks sent prices higher. The
war group. which had shown considera-
bic weakness when the peace rumors
were thickest, were advanced again,
and railroads, which had been bought
as peace stocks. were firm. The cop
pers did little at any time of the week.
Bond Market Dull.
The bond market was about as dull
as had been seen since trading was
sun,ed after the outbreak Of war. On the
exchange few speculative issues gave
a semblance of activity TO the list. The
Investment houses reported little or no
buving. Intending purchasers who had
cautiously decided TO delay while the
difficulty with Germany was acute per-
sisted in their inaction. At the same
time holders of bonds were unwilling
10 make concessions, and the result
was that prices were steady ana prsc-
tically 10 business was done.
Because of the slackening OF invest
rnent demand there were not many
securities disposed of for London &C
count. though the decline in sterling
was checked as some bonds we're dis
posed of and railroad stock placed as
an opportune squirt in the market
brought buying of rails. Sterling got
a shade below 475Ss for demand and
then steadied. Banking interests sup
ported the market by liberal purcna5-
ing Of cable transfers.
The British government resumed
shipment of gold to its agents here 10
provide funds for payment Of debts IN
This country. The Bank OF England s
store at Ottawa, replenished with gold
from Russia, sent in over S4,OOOOOO
before the end Of the week, and more
is understood to be coming. England
can better afford TO give up gold now
that her Allies are releasing the metal
for common needs. The Bank OF
France last week reported another loss
Of around sl9,0O0,oO0.
Money Rates Lower.
Money rates had already begun 10
soften before gold imports became
known. The slight tension IN funds Tor
stock market purposes IN evidence inc
last two or three weeks was relaxed a.
institutions that had Temporarily WIN
drawn came back as lenders. Call loans
were renewed at . per cent again ana
we're made as low as u, while time
accommodation was more freely OIL
fered
Mercantile paper was bought with a
considerable degree Of liberality. Inc
embarrassment OF sn old established
white goods house had no untoward
influence, as the difficulties OF the con
Germ were understood to arse from
special causes and in no way TO re
Acct the general condition Of the dry
goods business. which in the main is
prospering highly as prices rise.
Prices of Goods Steadier.
throughout the country general
business continues excellent, though
the rush Of buying noted few weeks
back has slackened Prices generally
are not being advanced with the speed
that threatened TO curtail operations
in many lines. II this reflection Of m
fation abroad is actually checked, we
should consider ourselves fortunate
for the worldwide high prices are the
result Of distended credit arrange
ments of the belligerents, and newt
ably contraction must come some time
and bring with it painful readJust-
ments.
In this country the memory of the
acute depression that followed the
outbreak Of war has prevented Us from
counting too much on the permanance
Of war born prosperity We cannot
prevent our affairs being Influenced
by the state of things across the water,
but. so the weight Of business opinion
goes. we are adding to the resources
of our concerns so as best 10 meet the
turn Of events when time comes to
accommodate ourselves 10 the changes
necessary when Europe ceases TO spend
for war. An optimistic uttersnce by
one of our Federal officials has min
imized the Importance of war business
being done here, but IL must not be
forgotten that out Of every dollars
worth Of goods shipped abroad because
Of unusual demands there arise mani
fold domestic transactions that aggre-
gate many dollars.
Steel Orders Accumulate.