The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-06-21
FINANCIAL NEWS
! AND COMMENT
important Developments Indi-
cate Unmistakable Turn
for the Better.
FOREIGN ADvICES GOOD
Breaking Of French Political
Crisis Expected to Bring
Out Capital.
FOREIGN ADvICEs GOOD

1hs Increased activity ana rather gen
srai Improvement In prices which was
pronounced in such market leaders ~
Steel common and Union Pacific evidently
eS4ginstsd with the professional element
n was the sort Of spurt which made
. Attins finish 70 the gradual rise Of the
~ few days The Saturday half sss-
eaSn In recent weeks has witnessed sew
Afsi DEMONSTRATIONS ssains, the short
interest which bore q likeness to yestsr-
-lAy's movement This tina however,. the
axuuss for Q hasty covering OF short con-
,s5a0s Appeared To be lacking. for 10 was
dAtly denied before the opening OF busl-
mesa that a decision in the advanced rate
case was to DO expected over the week
end Some basis for optimism was fur
-aiaheu by the publication OF the Rock
Ialand plan OF reorganization The meth
A.. ods employed TO accomplish this piece OF
financial surgery were drastic, and neces-
saxiiy 90. The rehabilitation OF the prop
ly could got be brought about other
wis. But The reception accorded the
pian reflected by the behavior OF the
securities directly concerned and BY the
.Esnaral market Indicated satisfaction with
the tsrms and a general feeling OF relief
over tho prospect OF the removal OF q
weak spU. from the situation
While the stock market last veek stu
appeared TO be held in q condition OF
wlG1dity by the delay in tho handing down
of the long expected rate decision. there
were important developments Indicating
An unmistakable turn for the better In
other directions, which mus; sooner or
latsr exercise their influence upon pricea
Mort encouraging sdvices are being re-
oeived from abroad. and AZ Paris paruc-
,siariy financial Affairs seem to DO I'M
proving steadily. specific basis for
hcpesulness is the breaking OF tho long
spro,racted political crisis there and. a. q
result. progress toward tho fotation Of
ne first instalment OF the Government
loan This event IL confidently expected
70 mop Up a great deal OF boarded French
capkal, 20 relieve the pressure upon the
markets there and 10 have a wide in
nuencs upon the whole OF financial Eu-
rope.
IN. Increased confidence abroad has
been made possible TO a large extent by
the gold exports from this side, which be-
sides relieving tense situation can
celled a proportionate amount Of our
obligations 20 European creditors While
this movement was made without incon-
venicnce. 40 far as the local money mar
ket was concerned. a certain measure OF
relief was felt here when "A sharp slump
in rates toward the close OF the week
suggested strongly that for the present 81
least the outflow has ceased. The weak
ness in the exchange market was due OF
course to the fact that the foreign de-
mand had been satisfied But II Is inter-
esting TO note the appearance OF bills sold
against anticipated shipments OF wheat
As time goes on the supply OF bills OF this
description Will presumably Increase and
some observers profess 10 believe that a
return movement OF gold from Europe
before the year r. out Is conceivable.
The week cav a multiplication of the
forecasts and predictions Of the character
OF the decision In the advanced rate case
Curiously enough. while some OF these
appeared 10 be entirely plausible and
while the Street IN tho main was inclined
TO believe that they were based on the
strong probabilities In the matter, they
were Ineffective In stimulating speculativ.
f>tsresr. Perhaps the stock market has
deliberately settled down to await the
lvent Itself and to disregard all rumors
perhaps. too. speculation will walt for
1ome Indication OF the eject OF Tho deci.
sion when II does come upon the business
situation. Or speculation may be walt.
ing upon the maturing OF the crops, the
disturbing legislative programme, tn.
Mexican situation. the fall elections and
the many other uncertainties IN the bust.
ness and financial situation. II must b.
remembered that June ordinarily Is q
month OF hesitation In speculative i'm.
pulse.