The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-19
FINANCIAL NEWS
MMENT
War stocks Again Under Pres
sure. with Baldwin Loco
motive Weak.
GENERAL LIST FIRM

Stock market features yesterday were
a continuation Of the rather peculiar
trading on Monday. The total dealings
were maintained on a scale OF only
moderate activity. with a curious mix
turc OF rather aggressive buying In GER
ain directions and some i~nsistent SELL
ing pressure in others. There was again
q separation of n few OF the mos.
mercurial and sensitive of the more
spectacular war stocks from the rest of
,ac list. Baldwin Locomotive was very
obviously singled out for sales and
despite the numerous explanations for
the Weakness of the war stocks. which
Wall street was asked to consider AS
represented IN this particular issue. the
days transactions On the selling si-le
ncrc ecep,icaily regarded by many OBJ
servers.
Contingencies involved in the ultimate
i,sior?iiuu OF peace abroad have long
l,ccn under discussion and the almost
Gd.ly revival Of corjectures on this score
allied for general Wall Street market
=, Election II the financial community was
taking them seriously. So far ms con-
rcrus the question of additional con-
tIacts Tor war munitions the metal and
other markets are Offering cvidenc" tina;
;rani, IN military supplies has probably
tot ended altogether with the contracts
80 Tar placed The helligercnts VIII
nave been making purchases here are
hardly likely 70 let the sources of sup
My dry up AS long aS war and not peace
has to lie reckoned with.
However. II IL to be said that whether
or mo-: the Developments in the wal
stocks lately have indicated accumula-
tive operations. they have helped &c
make a further improvement, OF the
technical position of the whole market
During all Of Yesterdays session tho
are list in the main was not onl,
relatively free from liIuidating or spccu-
,atiVe pressure. but IT offered resistance
- the unset'lir, influence Of weakness
.u stocks where selling was centred and
seemed to cviucc.. in "A tone OF under
lying frmuess. the effect ~ n uuie'
absorption of excellent character re-
Gently. In a negative fashion quote
values gave IN most directions n satis
factory account Of themselves, for Wal
street had little hut disturbing mat.ets
w. arguments urged ON its attention.
Nobody profcSsod to he able to- mtk'
anything of tho muddlc into which Mex
lean Affairs have fallen. hut TN" com
narrative -quinimity which the stock mar
k,i manifested toward them was l"S'
remarkable than its failure to displa,
excited appreh.nsinn over the %Iortent!
If the German controversy. Washing
,un adv'c.s asserted the progressive
N.gor Of the administrations attitude
taken IN the latest communication pre-
pared for Berlin pcrusdl. and the imam
cal district ,ecincd with predictions @
an imminent breach of relations Will
Germany. Vet The aspects az the Strcl
Exchange session tended to suggest per
sisteut expectation that the Washington
Berlin negotiations would end IN SOM
bette understanding rather than ;
homeless disagreement.
Included In the news budget Of th'
di, was tho evidence of profitable IN
distrial conditions offered 10y the EUR
Their advance Of copper metal price
and by the announcement of wage In
croascs by iron and steel mauufactur
cry. The United states Steel Cotpora
TOMS 10 per cent. increase In wag'
scales. which Is - take effect May !
j. separated by unly three months from
the previous advance Of y Stniia
amount IN ia" foreign exchange MAR
krt various forms Of remittance of tn,
ing strength Francs AZ the best price u
~" day had recovered an Of last week
break. There was no inclination to lufc
from these manifestation that Their
WAS any basis FOR ;hc new peace rumor
wh,r', Europe sent over. Instead I
was tnk.u for granted thst the rs,r,a
denoted Efforts l.! the different nation
to protect their credit.