The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-06-21
FINANCIAL NEWS
AND COMMENT
stocks Make a Partial RccOv-
cry in n Session of Quiet
Trading.
no PRESSURE TO. SELL

Whatcvcr nervousness over the Mcxi-
can situation VAS represented In Mon
days stock market did not survive the
night. Tho session yesterday was ouiet
and composed and the market was char
ICtcriZcd by an orderly display OF firm
moss. Dealings contracted to a little
more thar half the volume Of business
ur Monday and most Of tho activity
which 1t denoted was confined to the
forenoon DEALINGS. To n very consider
able extent the advances of the Iay were
cstahl shed in the early trading. bus
during the dulness of the afternoon
stocks remained steady, and Will"
closing in most cases slightly below the
best. the early gains were held In the
mann and final figures showed "A partial
recovery ~ Mondays losses. rails par
debating with industrials In the uptuin.
About the most conspicuous feature
was thu cessation OF selling pressure.
This Of itself testified under the cir
~cmnstanccs 80 the general strength OF
the markets position, aud Mondays
liquidation was more commonly at
irihuted TO the closing out % omnit-
mcnts FOR mobilized members Of the
National Guard. At the outset " the
day a disposition was evinced 10 buy
stocks on any continuation Of decline.
ftlll'''IE ' Illtl' AsfTfl 'Nl wv NV N''
recovery. There was a suggestion hero
of tho "Ncellcut nature OF tho ABSORPTION
which has been going Oh lately. and I'm
view Of all cou.iitions the probabilities
are that Z will appear sooner cr later
that stocks have been going through an
acrunula'ive stage In recent weeks.
Conjecture occupied itself with the
contingent events ~ the Mexican crisis.
The situation In his respect was not
I IT, ,,r-. a. 70 L, ~. NO -
by Washington's pointed note TO the de
facto Government In Mexico. On the
contrary. II was regarded as contribu-
ting toward n peaceful settlement OF
trouble because Of Its sharp definition
OF our contentious In any case Next
can Affairs were not seen AZ constitut-
ing n difficulty which AZ tho worst
would strain financial and business
resources 10 any apprcclab'e degree.
The prevailing inclination of opinion
was Indicated IN the argument that
Il hosItilitics should come they would
be more exciting han serious. or
course the financial markets are obliged
at such q juuCturc To await 9 mo de nni'e
developments. but Wall street while
awaiting Yesterday urged az an Incl
don't Of the situation that there was
l,.S likelihood uf immediate trouble with
ANY other nation thar Mexico now that
preparations against a'tndl warfare nau
been started by the Government.
Although Government bonds remained
heavy no intimatlon NJ projected Gov
crnment financing was afforded. There
seems to be no hurry In the matter,
for the Treasury Will. soon be In ample
funds. which will permit temporary
! accommodation 81 emergency expendl-
lures.
Gold imports from Canada were In
creased by ss.5oo.o0o 20 more than $685.
0po, 600 for ~. present movement. The
proportions which this Inflow OF gold has
Low Assumed can hardly hc ignored ii
calculations Of tho outlook for establish
Ing n higher level OF quoted values.
The rencWed weakness of German OK
/ change. witch sold ~ the lowest price
I'm two months. was attributed N the
extraordinary sweep Of the Russian ad-
vance against Austria.