The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-18
FINANCIAL NEWS
AND COMMENT
Another Upturn in the Share
distributing on a Mod
crate Scale.
A DAY OF BULLISH TALK
Foreign Markets Unsettled
Gold May BE Exported
to Argentina.
DAY OF BULLISH TALK

In the Illogical oscillation or quoted
values lately there has been no little in
dication Of . general market trend that
alterations from weakness to strength
and strength to weakness have come to
be taken as a matter Of course and so
devoid Of Significance as to deserve no
serious consideration. There Is danger
under such circumstances that the begin
n.ngs OF a real and definite movement
Of prices may not be detected. Never
theless II was not apparent that yester-
days market gave more convincing
exhibition OF actual tendencies than any
Of the sessions OF the recent past. There
WAS. to he sure. very manifest amount
Of builish effort expressed in terms OF
rumor. conjecture and argument, rather
than In an expansion Of dealings, but
1t still remained to be seen after the
close OF business whether ,r not the list
had proceeded to get out OF its narrow
range I'm which It had been swinging.
Final quotations showed general ar
ray OF gains for the day. for the most
part fractional The principal advances
were still in special descriptions, the
customary leaders having turned only
moderately upward. just az on Mon
uay tnty tuTUeu flOutTdttlN uoNli-
ward. The only conspicuously weak
stock. Missouri. Kansas and Texas pre-
ferred. held another sharp decline. al
though II was authoritativey stated that
the dividend on the shares had been
earned. United states Rubber was rather
heavy on indications that negotiations
for new financing had not had salts
factory outcome. The Rumely issues
rallied further on the announcement that
the company had been tided over its i'm
mediate difficulties through arrange
ments for extending it's notes. but OPP
timism was qualified by the onerous terms
on which the arrangement was eff
fected Circumstantial reports of pro-
posed offering Of securities for subscrip
ton on conditions very advantageous to
the stockholders appeared to explain
the strength which North American ha.
been displaying lately. In the main the
particular strength OF prices was attribut-
able to the activities OF speculative pools
in the case Of specialties and to ieisurely
short covering in the case OF the ordinary
speculative favorites. Foreign dealings
were again on the selling side.
New Haven exhibited some rallying
strength early In the day in consequence
OF the output OF optimistic assurances
from Washington implying the probability
Of n speedy adjustment OF the companys
affairs with the Government. At the same
time nothing transpired during the day at
all confirmatory of overnight reports such
as that the Cabinet was to take up the
New Haven situation ut yesterdays meet
Ing. and the stock appeared for sale on
the advance. The sam. was tru. OF n
variety Of issues. offerings increasing as
prices rose. stu the market absorbed
stocks in n fashion fairly satisfactory to
the propagandists OF higher prices, who
ranged over the whole gamut OF favorab BILE
possibilities and differences in the attempt
TO strike an encouraging note.
good deal was said about the alleged
unwieldy dimensions OF the short interes,
and the indications OF a generally sold
out position furnished by the markets
comparative indifference this month TO ad-
verse news of general bearing and un-
settling declines in particular securities.
Much more was said about the lenRthen-
ing lists of stockholders shown by cor
poration transfer books which r. n
striking feature OF the situation, and the
lack OF general selling pressure was urged
rs proof that stocks were really scarce
The traditions of the spring season were
invoked and due point was made of the
features OF the past winter which favor
the agricultural outlook. In addition to
all these an extensive assortment of bull
ish rumors was put In circulation some
or them distinctly curious Among other
things II was int!mated that somebody
had knowledge that the Interstate Com
merce Commission would within a day or
so announce date for decision in the
Eastern railroad rate case ard further
more that the commission would concede
the railroads per cent. Increase. As
nearly as could be ascertained these
rumors about the railroad prospect
emanated from sources close to uneasy
positions In some of the weaker railroad
systems.
Much Of the foregoing Interpretation OF
the situation which Wall Straaf MO. in