The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-03-31
FINANCIAL NEWS
And COMMENT
Selling Pressure Again Ap'
plied TO the Stocks-Prices
Irregular.
COPPER SHARES ADVANCE

In view or the restraining influences
which were exerted against the buying
side Of the stock market by the uncer-
families Of Mexican affairs and the prob.
lens posed BY the sinking Of the pas.
senger and freight steamships in the
European war Zone, apparently as q
result Of Germanys new tangled methods
OF warfare. tho stock market was con-
coded yesterday by unprejudiced obser-
vers to have given . satisfactory .
hibltion Of underlying strength. The
course Of prices vas irregular. but the
list had a prevailing aspect Of reaction
and Superficial heaviness despite the AZ.
gressive Armness Of certain descriptions
Trading wss on a scale Of slightly In
creased activity In comparison with the
previous volumes OF the week. and the
dealings had something Of the character
OF a selling movement.
This did not obviously resemble liuu.
dalton. hut did seem to be a continue
ton Of h bearish campaign which pro.
fessional operators have been carrying or
for some time with some assistance from
q public participation. II was agains,
such enor that quoted values had &c
make their show Of resistance, and there
were signs of confident buying of the kline
which willingly absorbs stock on rece..
sions.
Helped by the notes Of alarm which
most of she Washington correspondence,
sounded again in the fashion made IA.
miliar by the recurrent diplomatic crise.
OF the last year, speculation for the de.
cline applied pressure promptly after tn,
earlv tranAa ffnpu ava E..a "a a. -
or less consistently throughout the day
A symptom Of the professional natur,
OF the operation was the fact that stocks
Ike Reading. Union Pacific and United
states Steel. which are the favprites o.
professional traders because Of the broae
market that they regularly enjoy, wcr,
singled out for sales. Various industrial
specialties were also put under pressure
to which they yielded slowly.
In the afternoon the market derive,
some support from the rising strength
OF the copper stocks and in the indus
triai department there were many f,I
rallies before the close. The buyinc q
the copper shares synchronizcd with III
reports OF heavy sales OF the metal 70
summe delivery TO foreign buyers an,
or inquiries pending for additional la-g
amounts. The Anglo-French bonds an,
the new Canadian Government 5s wer
distinctly strong at ncing prices an,
the investment market was general,
strong. Washington Throughout, the de,
Kept up the reputation which IL has nc
puire lately as a headquarters OF lr
responsible ruinor monge4ing about IN
gravity Of the international situation
and Wall Street charges the tenor OF
good deal OF Washingion's insormat,o,
nowadays to tho large speculative bear
ish position which Is reported 10 hav
been built up Al Washington In recen
months.
Among the Interesting events Of III
financial day was the declaration ~
b per cent. dividend on American Bee
sugar. payable In quarterly instalmen,,
the first disbursement in three and
half years. Forecasts OF q record break
ine foreign trade statement for Febru
airy were provided by the exhibit OF ex
ports from New FORK alone. The tot
in excess OF SEQ. 0o0, oO0, is tho larees
ever reported for any one port in an
one month, the largest previous amour
having been New Works SHIPMENTS d
last November. a~ggreHating sIss.oOO, DOT
Returns OF railroad earnings fv-. f'ebrl
AIRY showed great gains IN gross and
Ibefal indulgence of operating EXPENSE
The feature Of foreign exchange was N
Increased weakness OF francs, VIII e
must he related TO the steady e>Dar
sion OF the enormous note issues OF n,
Bank OF France.