The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-24

ing more than operations for little turn
on the long side. were presented In yes
terday's stock market. It was again not
until after the practical close of the for
eign markets that prices began to move
upward. just as was the case last Friday.
thus prcciuding interference from foreign
sales following the present disposition of
Europe to continue liquidation OF Afneri-
can securities rather than TO purchase
them. although at going quotations
considerable portion OF the stocks and
bonds sent back to US "A year or more ago
could be profitably replaced. Moreover.
the dealings In the Wall Street share list
were accompanied by the active circula-
ton OF optimistic arguments and bullish
rumor. The arguments were the familiar
considerations derived from the technical
Indications OF the list In recent weeks.
The rumors went TO a striking extreme.
the most appealing one being TO the effect
that over night the Interstate Commerce
Commission would announce a decision IA
vorable to tho railroads in the Eastern
rate case.
Under the circumstances OF such re-
port It could only be said that the market
manifested very commendabe degree
OF self-restralnt and advances we're con-
fined within quite reasonable bounds. At
the same time the realizing sales OF the
day were apparently well taken and In the
late dealings only moderate recessions from
the best figures were noted. Closing
prices showed large array OF substan-
tial net gains for the session. railroad
shares being still the interesting and In
nuential leaders In this respect, undoubt-
etily becaus. railroad PROSPECTS are most
directly engaged in the more hopeful char
acter of Immediate political conjecture.
There were still no signs that the short
interest. about which there has been 81
much tally lately. was distressed by the
markets display OF aggressive frnness
In the last Few days. and from the alb
sence of any symptoms OF n scramblinH
retreat from bearish commitments 4,
might be Inferred that the dimensions o:
the short account had been exaggerated
or that Il was an account which could not
be forced TO cover.
AT the outset OF the session speculative
attention was provoked by the promu,ga =
ton Of forecasts OF more good news from
Washington very soon To the actual ne VS.
from the capital relating chiefly to the
conclusion OF nm agreement between the
New Haven railroad and the Goyernmen nj
prices made n tardy and somewhat in
different response This led to u little
hurried selling but pressure did not last
long and the market turned quiet and
steady until late in tn. forenoon. when
aggressive buying put In AN appesrance
New Haven acted very much Us though
whatever good news was contained for
IL in the ARRANGEMENT contrivcd with the
FEDERAL Department of Justice had been
discounted. The company has gained
much In respect 70 the concession OF a
decent length OF time within which to ac-
complish IFS disiuregra ton. but in other
respects the COMPULSORY. dissolution OF tho
combination remains unchanged. Never
theless the termination OF the New Haven
negotiations had n satisfactory ,mplica-
ton for the general marlSe, In It's elm
ination OF the disturbing possibility con-
/ ;aired IN the chance OF destructive l!ti-
CATION.
The fact that British consols rallied
sharply in the London market and that
securities IN London showed generally o
degree OF strength suggested to Wall
street that 1t was not necessary to be-
come apprehehsiVe over the outcomes OK
the Ulster crisis. There was not other
wise much news over the week end which
reckoning AT the outset ~ tne new Week.
i.aliroad shares assertso lehuersh.p ., .,ie
iNt whe" 'he "pw"'u lhoNe"'e,. VI th'.
ia! oesan "'.u ,s.e " ..",a. u'
,iie r'se ~as plo'.ueu oy NoI.nei" ia.'s'c'
40 az" mae y.
~. ~" " -. $50 -. ,S,
.ne ,S, NV. vi. n,,.,, om e.,
I positiyely the truth Of the latest revival
- ~. ..ror. So, Oh, u,,.,,n.,on Lsai .,
:, dn,ar ~ wore vaars a.o wu. at In q.
~ hs wndope Tho Rur,,ngtop Joint 4 nav
cs,t bond. which wera 40 ec,,v. and
stron1 last Friday were however. com.
relatively oulet. although steady.
The price movement OF particular is-
sues was not for the most part deserving
! OF sp.cial comment baltimore and Ohio
went up despite a dismal statement o.
ca rninvs for February. showing a gross
d,-crease OF sl.O2s. 900. net earnings de-
creasing $4,000. This testified TO a
considerable degree OF control of opera,.
! ing expenses. but the satisfaction whic.,
the stock market following preferred "a