The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-29
FINANCIAL NEWS
And COMMENT
Stock Market Yields q Little in
Response to Professional
Pressure.
MONEY MORE RELAXED
.--------------
New Reduction in English
Bank Rate Expected
Tariff Aids Imports.

Stlrtng In an irregu.arly heavy price
movement the stock narke. ended the day
yesterday with softer tone than 4. hac
displayed for "A fortnight. There was some
Indication of raidirg operations directed
agaiast certain issues. notably Missouri
Pacific and the Roc; Island stocks. which
were presumably Singled OFT or Il theory
that they might he alphabetically sen
s.ive 20 the lates; Developments In tn,
affairs Of the ~ Louis and San Franc.sc,
system. Professional pressure general!
seemed &c continue tie reactionary eff
forts which had been making for seT'
cral days In the belief tina. the market
should be ripe for a downward turn ate:
having had to absorb the heavy proh
taxing sales to which 1; has been sub
jec;ed lately.
There was a little foreign selling, bal
this weel so far there has not been mucl
OF the realizing which was so pronounced
during the more hectic strength OF las
weeks rise and the weight applied TO The
inarke; has seemed to come from PROBES
slonal trading quarters. Contracts FOR til'
decline had some announcement from th'
overnight news and the news Of the da!
and outside buying showed less DISPOSE
ton to follow prices UP. London sem
over a lower average Of quotations. but
after the early heaviness the list hard
cned and showed all around firmness un'
der the leadership OF Reading. which wa:
moved .up quite aggressive,y. II was no,
until the last hour that quoted values
welded again. but then they receded
rather rapidly.
1, would not be surprising to competent
observers OF the recent dealings II re
action should develop. and IL II does II
will provide II more satisfactory test oi
the real position OF stocks and the rea
attitude OF traders and the public thar
has been afforded by the persistent main
tenance of advance. very satisfaction!
sign would be given II fresh buying shoelu
come In on such reaction as hlight SSur
In any consideration OF the TWO sl.eu as
pcct of quoted Fa!ues IL shou'u ''o' NC W
gotten that uhdeTi!us suppoFt ~ iui
r!shcd by the "oriu""c re''Na'io'' II
money. ..-..,
ACCORDING 10 i|o,'"V" ""r..eS :" ~. - ~. ny.
reduction of the Bahk Vi r-he'a',u We
count rate 20 90 per Ve,,
clearly Indicated nor Wou'u u ia'' "
per cent. be TegaEeea Us uh"arrai'.eu
Private discounts were Nuo'eu d = pe.
cent. and - wiue Inference was Iepo' &c.
between private uiSSoI"'s cav "a" w "
rate ~ FaTls' ai'"ous" , vas "ot sue
gested max 'Ae BiilN Oh. FRANCE was o.
TeaLy 10 reoufe KS nsuIe' Mo".s nv
was chiefly Noteworthy 'or enc '''creF.'
inIly ftVor"nie terms NJ which 'IleF.a'''
Tile borrowers oouiu place. men paper pe'
cent. being quoted ior sood h'''nos. fo'
eigh exchange WAS "is'i"et'E "e..N, ue'''',''.
sterling closins arouhu i.sss'' cut naNiht
sou ~ points lowe ro'e'sh pusS"nse'
OF securities are supposed 10 nave oee'
somewhat enectiNe IN FORCING eNc"shs'
down IN the last rev days ou. some isn
seems TO De cass on inc export OF soI' u
France by the country $ foreign Uau'
statement Tor pecemoer,
This was one OF the items OF 'hforHaa
ton which tended ii'tie 70 ehecN BUY
ing Inclination IN Stochs' IL PROMISES
promptly TO terminate the poii'Ical eN'
ultation that had been manfesten ne
cause the hrst TWO months OF ioreis'
trade under the revised tarin showed M
obvious eject or the lower scheou'es. IN
December imports. ass9egat!ns sis"'
$4,000. were a record Tor any month II
the history OF our foreign trade, beint
apo.t S6oooOOo ABOVE tne previous max.
mum reached III OCTOBER, isl., "h"i
something like business noon was on
and were not far from s3o.ooo.ooo large
than the imports In December 1917 TX
ports last month on the contrary. whii'
$Jo.ooo.Oco ABOVE imports. were *i',ooo'
600 less than the exports IN the CORE
spond!nG month OF the previous year !
cannot now be douh,cd that tarin re
vision has been stimulating the importa
| lion OF soods ana commodities Il c'rcum
stance which was indicated a week or s.
ago by the London comment on IN
| British foreign frade ngures for Decem
Der.
Advices from abroad during the da!
| We're generally OF an encouraging nature
New financing Ia being accomplished
| briskly and satisfactorily at London. al
\ though 1t Is 10 be observed mat the RUS
On investment supplies IL being led b,
colonial Governments and public Dor
rowers in the other newer countries whic'
are In rather desperate need OF accom-
| mediation. The overnight news from
| Washington regarding the status OF GU
| foreign relations looked dubious and dis
quoting. but was on the whole taken COOL
h.cau use OF inspired statements that ther
was no situation of urgent delicacy o
difficulty
1 u