The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-04-01
FINANCIAL NEWS
AND COMMENT
Industrial Stocks Advance
Generally, with Copper
Issues Leading.
RAILS D PRESSURE

Some light seemed { be cast by the
action Of the stock market yesterday on
the character Of the selling movcmcn,
% the last few days. There had beer
previous Indications that the bulk o,
offerings originated with professiona,
cllques engaged in speculative operations
for the decline and did not rcpresen,
much real liquidation. No doubt purchases
yesterday were largely in the nature OF
evening up of positions. such as fire.
quently occurs toward the week end. and
buying for the retirement Of short com
mitments contributed materially 70 the
recovery Of prices. II was evincci
further that there had been excellent
absorption during the intervals Of recent
pressure. for the cancellation Of short
contracts was not accomplished easily
when there was any buying competition
such as developed In the afternoon.
Trading was still in moderate volume,
while the tendency OF quoted values
throughout the day was generally up.
Rails were for sale. but the railroad
department was not uniformly heavy.
- il'pi ttiltu W w lntornlrE on
foreign account. with some uneasy do
nestle realizing because of the i'm
portance OF the labor controversy into
which the railways AVE been precipi-
tated. However. the financial view Is
that the railway union canno afford
10 refuse the open consideration Of both
sides of the question for which the rail-
way arrangements have asked. anil the
expectation Is thai. the dispute will he
decided by peaceful processes. Some
observers thought the rails were being
effect which might be produced In other
directions. but II so the experiment was
hardly a success.
Industrials were in the main strong
and gained in strength with the progress
Of the day. The market NJ the close was
generally Arm. Copper shares were The
persistent leaders OF the recovery. re-
spending 20 heavy purchases which have
been making lately In reflection of the
fresh foreign demand for large amounts
OF copper metal.
So far az external influences were ron
cerned Il was not manifest that Wall
street was much affected by them ex-
cept in the continued restraint OF stock
market activity. The day started with
reports of new German gains in the
Nerdun offensive and during business
hours there was n familiar circulation Of
contradictory advices about the pros
poets involved in the diplomatic diffi-
Guilty which the European war has thrust
anew IN Washington notice. The chances
Of a break with Germany were freely
.canvassed. but the stock market did not
evince any significant disposition to re-
gard the outlook ap~prehensively. This
might he taken to mean either that a
breach of relations was not expected or
that IN the event OF II adverse conse-
qnences would not Ice more thar tenn
porary. Mexican possibilities seemed 10
have been r~elegated to a place OF inferior
importance.
Various forms of foreign exchange ex-
hibitcd strength. This was particularly
true of Swedish and German bills and Of
italian remittance. the rise in Italian
exchange being corjecturally explained
as perhaps the effect of British financial
support extended in pursuance OF the
agreement reached at the recent allied
in Paris.