New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-03-10
MARKET NEWS
AND COMMENT
Prices Rise and Dealings
Expand-U. S. Steel
Leads Advance.
EARLY HESITATION;
LATE REACTION
Better Feeling Over Submarine
Question - Raid from
Mexico Ignored.

The German submarine dispute from
the market point Of view appeared 10
be settling down again 20 the stage OF
prolonged negotiations. The french
lines around Verdun seemed to be hold
ing well and the German fleet was re
norted hack again from its excursion
J in the North Sea. So traders yesterday
we're able to turn their attention from
international affairs and dealings IN Sc
curities showed more confidence. Inc
turnover in stocks rose 10 above fOO'VVO
shares. though the great part or inc
business still had its origin IN tne
financial district. Prices improved
with some uncertainty in the early
dealings and AZ irregular reaction
toward the close.
Announcement that the Steel Corpor-
alton was 10 spend S2o.OOO,OOO IN ne"
construction, together with expectation
of a large increase in untitled orders 70
he made known to-day, lent strength
10 the steel and iron stocks. Onited
States steel. with dealings OF more thah
SO. 600 shares, the largest since Wednes-
dav Of the week before, when II sold eN-
dividend, led the list II started up
ward before the morning was ended,
and around the beginning of the last
hour reached s4i2. against a closing
price of So on Wednesday. Here offer
jngs were fairly large and before the
close half Of its advance had been lost'
In the early dealings few special
ties among the metal and war STOCKS
were advanced. In the noon hour the
inward movement broadened and gains
of > and 8 points or so were fairy com
mon among issues most dealt IN. Ohly
part of this improvement was held TO
| the close There is still enough w
certainty 10 make traders take prohts
before the dav is over and 20 warrant
large interests in keeping the market
/ in hand. -.
Settlement of the dispute with min
ors in the bituminous fields was fol-
/ lowed by strength in some Of the soft
coal roads. Generally. though, the
railroads. apart from Reading, did not
do much. That stock got fraction
above its high price for the year, es-
tablished the day before, but closed
with loss.
| Zinc and copper stocks improved. IS
sues Of concerns operating in Mexico
being practically unaffected by news
OF Villas raid across the border. There
has been little confidence IN the staDil-
ity of Carranza's government here, and
Yesterdays evidence of disorder in
Mexico left the market unmoved.
Call loans were renewed again at "a
por cent. with the lowest figure. but
no great frmness in funds for collat-
eral loans Is looked for. Surplus re-
serve here, even though not evenly di-
vided among the banks, IS high, and
4 the new banking act has worked 70
bring a countrywide ease IN money.
+ Another dip in exchange on Germany
sent sight rates to new low at ia
cents for four marks. Sterling vas
weaker early in the day. demand get
ting below 4.76 in the pound but re-
covered on banking support From
London the Bank of England reported
a small loss in gold. Circulation was
reduced and loans and deposits were
smaller. so the reserve proportions
rose more than = of per cent. TO
about 27@l, the highest so far this
year.