New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-06-02
Railroads Improve, with
Norfolk & Western
i'm the Lead.
WAITING TENDENCY
IN THE TRADING
A Few Industrial Specialties Are
Higher-Call Loans Made
at 3l/a Per Cent.

The rise in the railroads in mid
afternoon enlivened what otherwise
was a quiet. waiting market. Not all
of this advance was held TO the close,
but again II was demonstrated that the
carriers were in much better favor
than they were few months ago and
that. for the present at least. for
eign selling was not holding down the
list The opening of the conference
on demands Of the railroad unions
Yesterday made this upturn in trans
portation issues more notable.
Norfolk & Western in an unusually
large amount of business got up .
points to above It's previous record,
made on Monday, before the DIVIDEND
was taken off. Lehigh Valley. the Hlil
roads, st. Paul, Reading and practl-
callv all of the standard rails joined
in the rise, number making maxi
mum gains of point or more,
Earlier in the session there had been
a little selling of Mexican issues and
some short pressure against the zinc
stocks. A few specialities in the IN
dustrial list had been advanced
among them the Marine certihcates'
Beet Sugar and some Of the equip
ment issues. United States Steel
traded in ex-dividend. did little. Tvs
total was not much above lO,OOO
shares and il moved a narrow range
ending small fraction higher. Inc
copper stocks did nothing.
The day started with some evidence
n weakness. as the demand from Car
rama that our troops be wlthuIaWH
seemed more threatening when us
text was presented in the morning
nopers than il had in the fragmentary
bulletins that had come in business
hours the day before. The market
however, became dull rather than
lower. and price movement in genera!
was not particularly significant until
the railroads moved in the afternoon
some liouidation in the first two hours
was reported. but this was absorbed
without much difficulty. While bonds
were not quite so active as on
Wednesday, the list was an unusually
For most of yesterdays trading the
prevailing disposition was waiting
one. Removal Of the fear OF trouble
with Germany has failed 10 start
speculation again, and so far the up
ward movements engineered in the
railroads have not brought the public
interest desired. Not only Is there
lacking any special stimulus to mar
ket activity. but there are at present
special causes for uncertainty.
The coming Republican convention
is If more than usual interest to busl--
ness men. because our future national
policv may we'll govern our success IN
international trade when war IS over
Mexican affairs, too, are troublesome.
Since we have recognized Carranza
government, there is. il must be admit
Ted. a good deal Of logic in the aIgu-
ment he presents that II is not con-
sistent TO send and keep military
forces in his territories without ms
consent. Nevertheless, since ms au-
+horitv is so limited and his aolllty
TO preserve order has proved made
ouate. il is understood that the troops
will not be withdrawn.
The frmer tendency in money rates
continued. Some call loans were made
yesterday at 81 per cent, equalllng
The highest rate Of the wear, and re-
newals were again at Pr. Sterling
exchange held steady, while there was
brought in from Canada nearly S4'-
600 600 in gold, the largest shipment
of the present movement. French OK
change continued 70 improve.