The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-14
FINANCIAL NEWS
And COMMENT
Firmncss Shown by the Stock
Market in Another
Quiet Session.
STEEL AND UNION LEADERS
Securities Also Turn Up A broad
Exchange Near Gold
Import Level.
STEEL AND UNION LEADERS

While there was not much activity in
stocks yesterday. dealings falling to about
the lowest volume since the advancing
movement stopped some three weeks or
more ago, the market made on most Oh
servers decided impression of hrmness.
Possibly it would take very little more
protraction Of relative dulness and stead
mess to stampede tho professional trad
ing community into renewed purchases for
tho rise. precisely because quoted values
have held SO well after evidence had been
supplied OF falrl, heavy distribution In
January.
During February so far the list has
looked heavy at frequent intervals. but
has sagged very little considering the
test of growing inactivity to which It
has been subjected and taking into ac-
count also the gradual evaporation Of
much of the sentimental enthusiasm which
developed over the turn of the year Easy
money has been a sustaining influence
aud SO has the more rcassuring nforna-
ton which has come from trade and In
dustry about the tendencies toward inn
provement, but on the other hand there
have been unsettling occurrences within
the market itself. while hopeful oxpecta-
tons on the score OF politics have been
more or less disappointing, especially in
respect to the prospect for railroad rate
relief. London gave somewhat of IA
stimulus over tn, holiday recess to an
upturu in Wall street prices. but no pres
sure appeared on the advances which took
place. Tho trading element IL moro or
less in a state of suspense awaiting signs
of "a definite trend There is nothing to
show that any interests are seeking to
turn the market down Indeed, so far
as indications go. the only determined po-
sitions are on the long side.
Some Of the features of the dealings
yesterday and In the last two or three
days have suggested speculative efforts
for the rise. This Is true particularly
of the minor industrial and railroad
shares which have been displaying iltful
strength preceded and accompanied by
liberal advices to buy. However II was
not such phenomena which gave the mar
ket its character yesterday. II was rather
the quiet strengthening which went on
In stocks like Union Pacific. United states
Steel and Great Northern preferred. The
close was at about the best figure, of the
day. but it must stu b" said that the mar
ket held strong below TIA. maximum limits
established Il few weeks ago. \ rccoEni2t-
BILE trend has yet TO appear ami for the
discovery OF tokens Of tendency more at
teition is probably fined on United states
lately this stock has reached yesterday :
level. only to fall back ~ though large
offerings were encountered The Rock
Island shares turned weak again ana New
Haven was heavy. hut III" market ns q,
whole WAS not affected thereby.
The foreign markets were all strong
and recovered to ABOUT their previous high
levels after the reaction OF th.. last week
or so. couaols provided the leadership In
London. tut French and German Govern
ment bonds were very irm. The better
ASPECT of home politics was the uscribctl
reason for London's cheerfuness in add-
ton to tn. eucoura cement derived from
IN. steady success of new security Offer
inys. AT the sam. time il was noted that
the Rank OF England and the Bank ~
Irruucn report,d. lust as the Bank of
GERMANY reported earlier IN the week. un.
commonly strong positions for mid-Feb-
ruarv. the Paris return being notably
good Foreign exchange here fell 10 about
4 Ni.0 FOR demand sterling and th.r. was
much talk about the market being at the
gold itupor. uo.ut. tut under the circurn.
stances IL 4, clear mat all the factors are
nor rayori,ll. to shipments of the metal