New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-25
Railroads Fall Back -
Profit Taking Heavy
Reading Breaks.
WAR STOCKS COME
TO FRONT AGAIN
Some Gains in IndustrialS in
Later Trading-Gold In
ports Continued.

Reaction in the railroads was moro
pronounced yesterday, profit taking
by those who had bought heavily early
in the rise being accompanied by q
good deal Of selling from the commits
sion houses. Reading, whose sensa-
tional strength had led the advance,
got down more than points, and a
number Of the other active carriers
showed losses Of a point or so. The
setback. however, still left the gen
eral level of the railroads well above
that Of a week ago. The demonstra-
ton had failed 10 attract great amount
Of new speculative following, out J.,
did show that the rails could be moved
and that the foreign supply was not
necessarily an overwhelming handicap
business in the railroads was fairly
brisk early in the day, but after noon
the industrial list came into greater
favor. Some of the war stocks were
advanced, at their best getting up IRON
l TO 8 or points. The automoDlle
issues failed to make good the promise
of the day before and the copper stocAs
were dull as ever.
At the opening prices were irregu-
larlv changed and movement was con-
fusing for the greater part or the SEES
sion. The realizing in the rails was 10
q certain extent counteracted by up,
turns here and there in the INDUSTRIAL
list. Baldwin Locomotive, CruclolS
Steel. American Locomotive, Car ana
Foundry and Great Northern Ore were
! - vz~4T ara "a I
Marine issues were weak for awhlle'
but hardened later. The preferred
was actively purchased late IN the day
and ended with a gain of more than
Reading. after its 90 point rise, WAS
under pressure from the start and
ended not much above its lowest with
dealings Of around 10000 shares. TX
IRENE losses of a point or so were
made bv Union Pacific. st. Paul, Le-
bicb Valley. Erie. Baltimore e. Ohio,
and Atchison. New York Central lost
only a small fraction. Rock Island I'M
proved around the middle OF the day.
AT its best making gain OF more
than . points. Steel was quiet ana
steady. ending a shade higher.
In the weekly reviews Of trade pub
lCdflCnS DuitIdS4NE " NNNNA
norted as being further restricted:
Whether this means that the crest OF
the buying movement and OF hlgh
prices has been reached is Of course
uncertain. There is. however, a genera!
shirt of caution throughout the indus
try. and merchants and manufacturers,
who not long ago were frantically in
creasing their stocks, are now disposed
10 limit purchasing to actual needs on
the possibility that readjustments due
TO peace or TO discounting peace may
be close at hand.
II is this same spirit Of caution, srls-
ing from the recognition of the inevlta-
bic ending of hostlties that is keep
ing down participation in security
trading. At the same time large prohts
have been made, profits concen-
trated in p comparatively few hands
and. should the present indefinite feel
inc that peace is probable die away,
these idle funds may be brought into
the market again.
A further addition 70 our stock o.
gold was made yesterday in the import
Of another 100000 from the British
depositary in Canada. Since its move
ment began nearly $17,000,00O has been
brought in. but sterling exchange yes
terday held around its low levels.