OCR Text |
Show FINANCIAL REVIEW. General Liquidation of War Stocks Feature Fea-ture of the Week. NEW YORK. July 8. General liquidation liquida-tion of war stocks, predicated mainly on the belief that the boom in that field of Industry is on the wane; an advance in call money to 4 per cent, the maximum quotation since the resumption of the trading on the stock exchange in December, Decem-ber, 1914 ; further moderate accumula- ; tlon of standard securities and the favorable fa-vorable changes in the character of the j European war constituted the chief fea- : tures of the week in the stock market. Impairment of values In the munitions ! group was materially assisted by an ag- 1 gressiveiy short interest, whose operations opera-tions centered largely around higli-priced ; Issues. United States Steel and other representative repre-sentative industrials were but little affected. af-fected. Steel holding near its highest level of the year. Coppers and base metals In general were heavy to weak, with a succession of price reductions in the London Lon-don market. Trade, as a whole, is proceeding under reduced momentum, according to recognized recog-nized authorities, but the volume of business busi-ness shows only a small shrinkage for this season. The more encouraging aspects as-pects of the Mexican situation are everywhere every-where ha E led with relief. |