New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-01-18
Movement Uncertain, with
Active Dealings in a
Few InduStrialS.
PRICE TREND LOWER
IN FINAL DEALINGS
Irregular Changes on the Day
Railroads and Coppers Get
Slight Attention.

Commission house orders yesterday
provided no fresh lead for securities.
The market fell into the uncertain. hes
itsting state TO be expected after such
violent reaction and recovery as had
been seen in part of the list the week
before. when no new impetus came TO
trading. Standard issues were quiet,
with little movement Of prices, such
tendency as appeared being toward
fractionally lower levels a few spe-
cial industrials showed wider iluctua-
tons. Some in the morning made adj
vances of considerable extent, but
under profit taking a good part Of this
gain was lost before the close. Deal
inGs were on smaller scale than that
which prevailed for the greater part o.
the week before.
Developments from outside over Sun
day were unusually barren Of market
influence. The course Of the European
war continued dubious. and our McXi-
can affairs made no progress. Open
ing prices were little better than the
closing levels Of Saturday. with here
and there a few pronounced gains. Ac-
tive dealings. as the session went on,
were narrowly concentrated In few
stocks. The railroad group was dui,
and little was done i'm the cOppers.
Business contracted and in the middle
of the afternoon was very small
In the final hour the tendency was
downward but the decline did not 80
far. Profit taking by traders, who
fourd that the earlier advance had not
been followed by new buying, was suf-
fcient 90 account for the reaction. II
is questionable if the news that Mon
teneero had made an unconditional
surrender, while depressing 10 market
sentiment as the first break in the Al
lies ranks. had any direct influence on
prices
Among the industrials most active
Mercantile Marine issues were partic-
ularly favored. The preferred cortiti-
Gates rose over points 90 a new high
record, and those for the common went
I'D 60 their highest since they have been
dealt in on the exchange. These two
stocks were the most active In the list.
Certificates for the ! y per cent bonds
were also heavily traded I'm, going
above the high price reached the week
before. but, like the stock. falling back
toward the close. With shipping un-
questionably prospecting greatly be
cause of the war, the issues Of this
concern naturally form q popular me-
dunn for speculation while the terms
Of reorganization remain unknown.
Other industrials that rose on fairly
active dealings we're Coal Products,
Can. Crucible Steel, Nickel, United
Fruit and Mexican Petroleum. Trad
ing in United States Steel was un-
usually small, and it moved in a mar
row range, holding at around SIS for
most Of the session and closing a little
lower, with a fractional loss. Next
weeks dividend action has brought
considerable uncertainty to the stocks
market position.
Large addition 20 surplus Of Clear
ing House institutions reported on Sat
urday was followed with practically no
change in monetary conditions here.
Call loans were renewed at IA per
cent again. with , per cent the high
est. Time accommodation was quiet
at rates about as on Friday. Sterling
exchange was little flrmer, demand
getting above 40 in the pound.