The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-01-01
FINANCIAL NEWS
And COMMENT
Year End Stock Market Quiet
With Little Change
in Prices.
SOME SPECIAL STRENGTH
Stock Exchange Seats Sell at an
Advance-Call Money
8 Per Cent.

There closed on the Stock Exchange
yesterday the leanest year that Wall
Street has known in a decade and half.
Stock market dealings have been con-
tracted and ineagre with transactions,
owing largely to "a llquidating movement
of vast proportions, but all this was in
prospect year ago. and tho stock market
community enters 1914 with hopeful ex-
pectations. based on IL good deal Of OK
perience that the main tendencies Of the
future will be In the direction OF improv-
ing values and increasing activity.
Something like . degree of confide nee
obtains that whatever the nearby vicissi-
tudes Of trade and industry may be the
, financial situation has been restored to
conditions OF soundness and that the
financial markets will before long be
able somewhat to anticipate the eventual
recovery OF general business prosperity.
Tho closing stock market session OF
1913 was a rather negative sort OF affair
Dealings fell away to little more than
hall the scale vi trading in the past fort
night. and although prices nuctuated
with "a good deal of uncertainty and
| Sapidity the list as whole displayed
steadiness. and net changes at the end
of the day were In the main unimportant
WIN pci a uNeEuke OF ADVANCE.
American Telephone was rather weak.
but the pronounced movements Of prices
| resulted chiefly In gains.
These took place In more or less special
quarters. Texas Company rose quite ag-
excessively In continuation OF the advance
which It has been making while reports
circulated about negotiations for the
sale of u large interest In the company.
American Sugar Refining shares moved
~ laf nj aptS ax.Ast =
the companys difficulties with the Fed
eral Government. There was not, how
evr. much to be said about the course OF
particular stocks. but one piece OF Stock
Exchange news was decidedly interesting
as an Indication OF the feeling with which
the end of the year was approached. This
was the reported sale OF seats at S45. 900.
gain OF $500 over the last previous
sale.
Foreign advices contributed nothing to
the influences OF the day. European
finance seems to be more or less oppressed
by the huge task OF new security promo
ton and absorption which lies ahead OF
II. but 1t can hardly be said that the for
eign prospect is as clouded ~ II was at
this time last year. An illustration of
| this Is afforded by the reported understand
Ing arrived at between Great Britain and
Germany regarding certain matters of
! long standing diplomatic controversy be.
| tween the two nations. The idea of
| carnival which seized on the Wall Street
| district early In the day despite the losses
and tribulat!ons OF the past year seemed.
however. TO prevent any display OF inter-
| est In political news either of an inter-
national or domestic character
The business troubles which came to
| light on Tuesday did not appear to evoke
apprehensions OF an unfavorable refec-
ton In the stock market, although il is
recognized that the persistence OF com
mercial embarrassments and Industrial
depression is hardly propitious for any
| pronounced display Of rising strength
in securities. Currency was given TO
some recent remarks by the chairman
| OF the United States Steel CORPORATION
| relative to the possibility OF a more ex-
| tended period OF business contraction than
had been looked for. but the fact can
| not be too strongly emphasized that this
| is prospect which the financial world
has been engaged In discounting Mean
while II Is worth observing that the Iron
Age in its weekly review noted the
spread Of a sentiment In the steel trade
. that adverse factors had very nearly
| exhausted the worst of their influences.
The years money market did not end
with anything like the indications of
strain and tension that We're In evidence
AT the close OF 1912. Cali money re-
newed at per cent. and this was the
| high rate. There was little upturn In
foreign exchange, demand sterling clos
ing at 4.S5i,.