The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-30
FINANCIAL NEWS
AND COMMENT
Reaction in the stock Market
More Pronounced as Money
Eases Everywhere.
FRENCH BANK RATE DOWN
Bank Of England's Discount
Figure Is Lowered a Point
to 3 Per Cent.
FRENCH BANK RATE DOWN

-, -, - ~
"'"' ne' "ecur'''es aoroao WERE s'rohs
LONDON enjoying veritable boom. with
consos making the astonishing advance
OF more than "A point. i'm addition TO IN.
,ar,,o r,o,,.r, ~, ha, .,..a,,. 81,
-, 49,, - 49,
p'a'e '''S '''o"'h' ihese MANIFESTATIONS
of European investment and speculative
enthusiasm were a RESPONSE to the fur
ther reduction in the Rank of Enp,and's
a,.,o,,, 49,, A.. -. -. -. :, ,
'' "
per cei''' anu the thiru lowering sine.
the opening Of the year. and to the even
more significant even II less extensive
reduction in the Paris bank rate from 4
to 81! per cent
The genuineness OF foreign encourage
ment derived from the aspects OF money
was testified to by another large buy.
ing movement conducted In the Wall
Street stock srket for foreign account
So far az Immediate Indications no I,
would appear that ABSORPTION of Amerj.
can securities by Europe Ia i'm order fo,
the holdings OF our stock. and bond.
abroad bav. haep In a r.i,,cad .,.,. g.,
more than a wear which is M, M Al,
"A normal condi,ion A, IN. .a,n, lin.
and d,snite IN. summon, ,,,bi,h r,ron.
rendered Yesterday tho Wi, Stree, shor,
list rave NOR. cony,n,,,y .,,,,. -,
least IA r.ac,,,nar. ,ronJ ,hn, l..
40 far exbihi,ea ,Inc. IN. r,i,,,,.ir,ar 49,,
vance which co, In a ,nnn,h ayo T., 81,
.ftarn,nr ar,ar i,,,.n,,,tst , Wv
rod -, ,'ra,,to,,'' .'' uaI.s'
vniu.. 900 No.. ~; 80, u"o.eI
ill.,, ri,.. ,,.. -, a.. . , M. ""'
tI,i mo-, a.cii,"s ~ -. w sups'ai''
go, ,.,s... ,,s io' ''ie u"s III
nnr,s,,, ,a. anu eve" 'hore I'M
,,. s III sPeuia'ies'
-. 49,, 'u''.e NuleN issues again
-. VI, "''ei,'o'i !" 'he sPeclait! cihss
49,, .o''apse oe'hs ascriped TO the adj
-. 80 y. wy .ohlP"''s "iaHces' Whi'f
, 80 ',,oie p.'o''s NECESSARY Neau'
H., ,"' ,i''"-i'iai III proilot-
&c '.' "' fe.eoine movement whicf
80, I, . a,e" ny the wa! "
- ~" STATES steer y,eined 10 pres
-, o,ess'oi'nl INITIATIVE WAS UNI
reepohsioie LOT me turn thkef
ps piices' nut the operations uncovered
'''s oi"ere oIi 'ne long sue ana IN
,onie sP'ea" vi SEEMING because o'
- $500 VI "on'es''e puEiis oTuers &c
.She au'"ntase vi price ie'ei lower thar
,na' at ~hioh s'Tks were scrambled TOT
" ven
nl"'''iee' Una. inc 'echnicai po'
s,'''I v. N'e Market han been impaired
anu tha'' as seemed 10 lie indicated sev-
nays "ko' ts "osofp'iNe capacity
,t ven o'ertaAe" ny the weight OF rea'
-'"S "'''''e" u! the ruther exaggerated
sH''e,eh' ol the nin-Jannary rise. The
Iarl 'n'' 'he r'acuohar! symptoms be-
u""e ,nos' pronounced on the DAY wnei
e 'ene, vi the worius money markets
run proiohee" straih was most emphati'
-. ".'o,Sr"'eu ID PTopaoi! some PROOF
.,"' ''s 1anuarS upturh III the wal
street snare iist had been very largely
y! way OF ols'ouh'ihe precisely such a
''u"''o' VI ease IN money!
iha' quoted values declined here while
a"N",c'hs aoroau OH su'h day sug-
$50 'n' pecu'itr coinPicatol OF Inc
outiooh ior noihestic Nalues with all the
FACTORS OK vast political change in the
niies -, AMERICAN ousihess eHor' IN the
neiu Where reai values ar" created The
''uP'u run o' " 'ocai savings bahh did
not enter INTO the transactions or the
wan S,ree' session. save az II may have
"sl'a''" me ieather headed element OF
the sPe'uiati'e community. but good
tta' o' important hotice was directed
toward the Implications OF cau'ionary
nature conveyed ny some OF the develop
h,h's o. tne IhS' ia! or SO.
i"V'"ueu ~ 'h!s ch'esorF were the swell
'S "u' OF INC import movement IN ths
country foreign trade, the pOstponemenI
oi nec!sloh III the Eastern railroad rate
ease l't!n'a'en pE IN" interstate commerce
COMMISSION TAP line ruling, the CLOUDY
aspect or our foreign political relations
.he Fanlcei character or tho new legisla
t,oh ON which congress ~ engaged ant
.he prospec's Tor general business denoted
u! the situation IN basic industry as H.
Ius'ra'ed py steer STATISTICS and reports
ne ra,lroau statements OF me day also
n'teu the reacuohar! mood or the mar
He. the 81 l'aul coming along with al
EXHIBIT OF Ss9s'ooo decrease In gross
earnings net earnings decreasing $o'9.OOO
more cheerfu' matters We're betokenec
nE 'he dominant hhanciai Factors OF TN
"a!' the topping or foreign bank rates
anu by the Nisor OF the Investment APP
petite SHOWN III the foreign and domestic
nlarHcts TOT he" securities. The l'ondoi
nahk rate Is now back where II was a
the end or August. 1872 when it wal
abruptly raised To per cent. on the eve
OF me outbreak In the balkans. The Banl
OF FRANCE hau until yesterday maintained
tne abnormally high rate OF 4 per cent
since october 81. lsl2. ana II IL rather
ciear IN view or the perplexinS problem
OF reconciiins the needs or new financing
Investors