New-York tribune., 1916-02-18
A Few Weak Issues Under
Traders Pressure in
Late Trading.
IRREGULAR CHANGES
IN DULL SESSION
Early Selling for Short Account
Brings Out Little Stock
Liquidation Decreases.

There was less appearance of lqui-
dat;on in yesterdays stock market, and
prices generally made irregular changes
Of small fractions on the day. In the
early trading the short interest found
that selling brought no important In
crease Of offerings, and in the after
noon such pressure as was exerted
was against particular issues that
seemed disposed to weaken. News
from Washington of negotiations over
the Submarine question had the nat
ural tendency of restricting opera
tions, the days business falling be-
low half a million shares. Prices,
however. failed TO follow the changing
tenor Of Washington dispatches.
The difficulties of neutral nations IN
such a time Of war were further en-
phasized in the suggestion from Swe-
den for a conference to aid In bringing
about better observance OF interna-
tional law by Great Britain. This was
not looked upon here as seriously sug-
gesting that Sweden might be drawn
into the conflict. As in the case OF
so many other peaceful powers, Swe-
den Is doing large business because
of the war. as we'll ss suffering incon-
venience from this source, and con-
siderable trade for Russia passes
through Sweden, which that country
would be loath TO lose.
Had 1t not been that the German
submarine question has grown rather
stale as a market influence, the re-
ported announcement of the German
Ambassador that it has always been
Berlin's intention to treat armed pas
senger vessels as ships OF war mign,
have come as a shock. AS 1t was, the
tortuous course of German diplomacy
left the market unmoved. 1t was stlil
the belief that, in spite OF present e1-
forts to use our government TO force
concessions from Great Britain, Ger
many would finally furnish us assur-
ances of her intentions that would
prove acceptable.
The furry OF the day before over
the proposed Canadian corporation tax
was followed by 10 further weakness
of the stocks concerned. Canadian
Pacific. which had made little recovery
on Tuesday, rose points, and held q
good part of its gain to the close
Elsewhere in the railroad IlSt ihONe-
ment was unimpOrtant.
In the early decline United states
Steel was sent down TO S2l2, but u
rose above SO again, closing a shade
higher on the day. Some of the war
group weakened in the late dealings,
Baldwin getting down more than z
points, and few others of the equip
ment, oil and automobile shares
showing losses from ! 10 points or
more. The copper stocks were STEADY
German exchange gave further eyi-
dence of weakness. with still no indi-
cation of the method through when
Berlin hopes to stabilize rates, closing
at 7414 cents for four marks, more
than cent lower on the day. Ster-
ling and francs were steady. with
the comparatively small shipments Of
gold here. the Bank OF England was
able to report an addition OF more
than S25OO,OO0 TO its bullion. Loans
we're reduced and deposit Liabilities
were lighter. so the reserve proper
tion rose more than 2l2 per cent 70
above q. In Paris the Bank OF
France added over Sl.OOO,OOO TO us
cold and 100000 to circulation.