The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-27
NEWS =.
AND COMMENT
Moderate Rally IN Stocks on q
Fair Volume Of
Trading.
BETTER FOREIGN ADvICES
New Security Issues Again Tend
to Take the Form
Of Notes.

gay . stump IN the WAL street ana Lon
don stock markets. Abroad recovery pro-
ceeded with . little moro vigor than
was displayed here. and II was indicated
that foreign influences were not all that
have affected the local dealings. At the
same time the domestic market was helped
BY the fact that there were no further
Developments in Mexican az
fairs. although SO far rs Europe Is con-
cerned II In altogether probable that
foreign finance would regard II as favora-
BILE X Washington were compelled b.
events to forcible action toward Mexico
rather depressing The early tendency
Of the foreign market was lower. and
dispatches about the weakness in Paris
had an alarmist implication. However, Il
was not long before fresher communica.
lions minimi1ed the importance Of Pa
risian concerns involved In difficulties
created by the Balkan war and compli.
Gated by the Mexican and Brixilian crises.
rs we'll as by the long deadlock between
French politics and French finance.
The Paris money market was the easiest
OF the year, and the weekly return Of the
Bank Of France made on the whole tn.
best showing In more than n year. II
was reported also that arrangements had
been effected to take care Of some OF
the worst Of immediate banking positions
In Paris. and there was q fairly shar >
rebound In the London securities market.
Some early selling OF stock took pla O..
here for Europe. but the pressure was NOT
kept up. AZ on Wednesday. and domestic
selling seemed TO be small In amount.
As this became apparent traders proceeded
to make purchases for both accounts.
although short covering obviously pre-
dominated. Tho list regained the fur
har Fra cftn 4 - ar~ hn, a
In the afternoon hardening processes car
rled the market to a fair fractional aver
age above Wednesdays close. The leaders
showed comparatively small price changes
for the day. the most substantial gains
being made in stocks like General Motors,
the Denver and Rio Grande shares. the
Rock Islands and the Rumelys. The
movement Of the Rock Island securl-
ties suggested the progress Of reorganixa-
ton plans. and the rise In the Rumely
stocks was taken as sign Of probable
success In the effort to readjust that COM
pany's circumstances.
Wall. Street had for what II was worth
the encouragement derived from various
optimistic expressions Of opinion by
Andrew Carnegie. George Gould and
Jane, j. H.ll. but the outward tokens OF
the day were that stock market dealings
were in the main professional and were
governed by professional considerations
derived from the technical aspects Of the
market itself and from the international
DE lelopnents already discussed. A
curious fer ture OF the session was the
abrupt weakening Of Northern Pacific In
tho afternoon. This was variously
sscribed to increased wage demands made
by the employees Of the railroad and &c
some belated selling from Continental
Europe. II had some effect In hinderins
the general recovery. which did not by
any means extend over the amount OF
ground lost on Wednesday. Transactions
were on 1, scale Of some contraction from
the volume % business the Gay before.
Information from Europe related 70,
the most part to matters which have
been noted. The Bank Of England's
weekly statement was excellent anc
showed Improvement despite the Cont
mental absorption OF new gold supple!
arriving at London. 1t was demonstrate,
that sufficient investment funds were still
available Tor the oversubscriptlon of new
bond issues Offering to yield per cent
| or more. Al the same time Wall Stree
financial opinion received no SUPPORT From
abroad for the formation OF definite con
customs that expansive activities wer
! In order. Domestic news Of msrke.wis
bearing was not such as TO stimulate
constructive effort, although 1t provided
10 Incentives for conducting retrea
! from constructive engagements. Tn
Mexican irnbroglio Ii O restraint on imam
cial endssvor A. long al Its outcome is .
uncertain. Meanwhile II serves to obscur
somewhat the other influences 'emanatin
from Washington which are adverse t
forward enterprise.
The further statements Of vailwa
earnings for January included returns b.
the Hartman Pacifcs. The Union Pa
cifc lost about S338.000 In gross, but tn
| decrease in net was cut to less than S26.
900. The Southern Pacific was about tn
least successful Of the roads % far re
porting in the curtailment of expenses
A gross decrease Of 100000 was carrie
along into . net decrease Of S361,50'
Banking attention was very largely en-
gagged with nsw financing arrangement
most Of which at the present time ar
again taking tho form Of short term not
Issues. The Erie has sold sfS,60O. 900 c
three year 5h per cent notes. which ar
to be offered to the public at par. PEI
mission has been sought OF the author!tie
TO put out $500. 900 OF two year pc
cent. notes on the Rock Island propert.
The greatest interest of the moment al
taches to the prospective Offering OF II
New York Central ~ per cent. bond