The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-19
FINANCIAL NEWS
AND COMMENT
Hardening Tendencies in
Stocks, New Haven Lead
ing the Rally.
FEATURES OF THE WEEK
Some Bearings Of Interstate
Commissions New Haven
Report.
FEATURES OF THE WEEK


OH the International list were marked
down quite sharply abroad before the
local opening and there we're again reports
Of Continental ceiling caused by disgust
and distrust over the Developments here
but There Ia no little suspicion OF the
r~eent appearance of foreign liquidation
of American issues Whenever specuia-
tive effort II active on this side. as II mas
been lately. there is a good deal OF Waii
street manipulation OF the markets
abroad.
However that may be. the application
Of local pressure to the list yesterday
ceased very abruptly after the early deal
ines which failed to carry prices as low
AS they had been in London. Thereafter
,here vae more or less continuous buying
for both accounts. although the snort
interest, which eeeins TO have peth very
largely increased by the weeks dealings
VAS not obviously inclined TO beat nasty
retreat 49,.
The fact that Washington sent infor-
nation early In the forenoon that me
Eastern rate decision was not likely 10
come out before next week was not CON
elusive in respect to any or inc cohJeS-
lures Ia which Wall street has beeh IN
dulgiur i'm the last few days about me
nature of the decision. II II should prove
less disappointing than the speculative
community has been expecting pae-
nomena scarcity Of stocks is likely 10 pe
witnessed The close was firm AT gem
eral average OF gain, with New Haven
leading the rally.
r,r.. ,v,,,I,Iy hank statement was n very
satisfactory exhibit OF further recover
from the miiyear impairment. Loans
decreased $4,000. 0O0 and as deposits he
vlined Sl9.UOU,O0O while there was a cash
cain of about $?6UU,OOU the surplus re-
serve was augmented by sl4,500,OOO.
All the difficulties which the financial
and business community has mad TO
contend with for so long "A tim" were m
creased In the past week 10y the Inter
state Commerce Commissions latest re-
port on the New York. New haven ana
Hartford Railroad under the McIl"h re-
sime. \ point which deserves 10 DE m' ,'
IN this matter is that 'he report mus 'i',
trates disposition An 700 prtN"lei,t .oT
adays 10 u'Tec' "tttn''o,' ~" -
10 the MISTAKES u. NC n. ,'''V''' ,'''u me-.
pofate past iul 'i'e '"'P Va ''''7
tHeIn - IN o. 49,, 49,, l. xht,,,od
by ''e sanne ' oNe.' ,"''o 80 10 ,,',,t,-n
iaVh OF ''at Guns, w. 1919 " 80, .
60, an. - 10 wh,,r,cr cxt,rt
", a,t.. b.. hoou dosc,,ir,,
..,,ro !. ,n,a, ,,'ii,,, frn,,.,, In a,.
,ard,,,ra Win uid,ly or. mod ideas ,
d.caJo AGO Tbcrc is going tn he mo- holm
FOR tho new generation in making cor.
norate failures an excuse for tying the
hands of abIa and enterprisinc men hy
ropes of regulation and statutory enact
mem designed TO prevent them from hav-
ing the use of power merely becdus
il can be abused.
Probably the worst effect OF the New
Haven report will be produced abroad
Here the facts, which II trdvcrses with
much misstatement and utterance OF
4 Co.. ia.
manner in which rhe commission dealt
with them. the excessive harshnoss OF tn,
denunciation bestowed on the past man
agement OF the railroad must inevitably
qualify the effect OF the report. There /:
revealed altogether too much animus
on the par, of the commission, or on In,
part OF the authors OF the report which
the commission sanctioned, 10 m Ike th'
document a very valuable contribution L
the sound establishment OF prosperou
conditions in the corporate world.
Otherwise the report happened TO com
at a time when the security markets wer
disturbed on account OF previous or i'm
pending corporate brelkdowns of NOR
or less scandalous nature, together wit
other less reprehensible corporate dim
culties. 1t is doubtful. however. II tn
unsettlement OF financial and business al
fairs Is going TO he regarded as othe
than passing phase OF an era Of eco
monte eadiustfnent apprOa ching Cumina
ton.
There seems to be a very sane nppre
citation no. only in Wall street but else
wbara that in times Ike these there is
strain which tells only on fundamental
weak CONFORMS while the vast majority G
.nternrisrs go through To- the eventual r,
per.al of nrosperous activities Incl
dentallv the completion OF readjustmcr
r.;Il bring with il some Qualification {
concenta n, nresent confused as to IN
,,,t,ra ~ proncrtv and property right
In tho case az tho New Haven the rest
,,tton cults which ar. in process Of star
tnr ,oeo,ber wish tho REORGANIZATION OF N
10, H., hoard ,o resist cornorate di,
ir,oo,ratto, an Unfair terms YIN furnis
5asi.at>ia CONSERVATIVES ia tcst sorne ma
1871 ,,oii,i,,,I ida,s
- ,,, o,,,,i,,ton. .a.r, ,o h. nm,
80 ,t''sa...',.,, aoa,t,. ~ horor
.le ~. 80 tio,, 80 o,,or,,ircd
49, ,td,aar r,,rora ,,,
-. -, ,,,.ti,, Use, hoc.,,sa
.ar',,' do,.olo,,,,,,y,,s u,hcr.,e Tho no
GU 80 - ~. a., ,hat I,,,o,,.
.''tII -, 49,. ,,,, ooco,,r,
,,,,,',no IT,, To- ,,ro,,,d.d ,
800 80 ~" 49, pr...itia, G,anc,aI nro,n
aun,.'1 .", sran,,ia, 80 ond hnnLo
"'' -, 1T 49,, q, ,,or,, iii
IN i'oi"o' NV I "i,o a. ,,'a ,,' pr
ursse' por'''nt', 80 ~ ,,n,,nh