New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-04-26
MARKET NEWS
AND COMMENT
Early Vigorous Advance
Some Reaction in
Late Dealings.
DAYS TURNOVER
LARGEST IN WEEKS
Less Attention Paid to German
Dispute - Steel Earnings
Reach Immense Total.

Stocks rose further Yesterday, ire
advance Of the morning being marked
with almost as much vigor as that OF
the dav before. Speculative enthusiasm
was fed with rumors Of dividend m
creases and of purchasing By large mn
srcial interests and paid less attention
70 the international crisis that so as
turbcd last weeks market. over nlgh'
Gains in many issues were large ana
nricos continued 10 improve through
out the morning. with little Interrupt
,ion. Around noon business, which had
started on an unusually large scale
ouietcd and prices fell back little on
proft taking. Toward the close there
was considerable irregularity, but prac-
,ically all the more active stocks endeu
higher and gains on the day eXtendcu
to 3 points and more.
Early reports that Germany was pre-
pared TO make sufficient concessions TO
meet our wishes, were not confirmed
on this side Of the water. Washing
ton denied receipt Of encouraging
messages from our Ambassador in Ber-
lin. and the German Envoy mere re-
fused 10 confirm rumors that he had
learned of adequate pledges from his
government The traders. however in
sisted on regarding the submar nc
question with as great an excess OF
confidence as they had shown las. week
Of fear
The day began with dealings at me
rate Of over a million and nal
shares. and while the pace s lackened
after the first hour. the total Of almos,
100000 shares was the largest IN nearly
six weeks. United States steel. on
trading that involved around @O,Oup
shares. was surpassed in activity by
International Mercantile Marine. pre-
ferred certificates, and almost equallcd
by the common Reports of purchas-
ing for control in the shipping cor
poration were varied yesterday and
different interests were credited with
buving for representation. The com.
mon rose 10 an absolute high record
and the preferred approached for
while its previous best.
United States Steel. on knowledge
that immense business at high prices
had produced remarkable earnings for
the first quarter Of the year. rose TO
Sd. but fell back fraction to end not
quite point higher on the day. Inc
results Of the first three months OF the
year about cqualled expectations. ne.
earnings reaching more than S6O.fOO,
600. The continuous monthly gam
since January. 1914. was carried fur
Their. and March furnished net of over
So. 100000. Earnings for the quarter
we're more than 100000 greater than
for the one preceding and SlS,OOO,O0O
above the CORES ponding period
Of last year. There was some expec-
tation that the announced increase IN
wages would be followed by higher
rate Of return on the common stock,
but the dividend was declared at the
regular rate. and IL was said that an
additional disbursement at this time
had not been discussed.
Call money did not get above ~
per cent yesterday. but renewals we're
made at this rate instead of at 2h4, as
on Monday. and time accommodation
held its advance Of the day before
With lessening Of apprehension over
break with Germany, there was some
further reaction IN exchange on Berlin.
Francs rose to their best on the pres
ent recovery.