The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-03-05
FINANCIAL NEWS
AND COMMENT
Stronger Tone in the Stock
Market on q Little In
crease Of Trading.
STANDARD SHARES LEAD
Some Signs Of a More Hopeful
Tone in Sentiment-Iron
Trade situation.
STANDARD SHARES LEAD

With the recovery OF ordinary activi-
ties from the restraints of storm cond-
tlons the Wall street stock market yester-
day showed a tendency toward Increased
trading. Total transs actions were about
twice the volume OF Mondays dealings,
and although the transactions Of tho ses-
sion were not particularly large at tina,
tho indications Of the share list were
somewhat expansive To what extent the
aspects Of the market were owing to the
restoration OF railroad and wire commu-
nication Interrupted by the storm was a
question. There seemed to be something
In appearance and movement OF quoted
values which suggested some disposition
toward an aggressive display OF strength
succeeding the stubborn frmness which
has been manifested lately. There were
signs that the markets extraordinary
steadlness In recent weeks, despite the
contraction OF dealings and despite n pre-
ponderance OF unfavorable Developments.
had begun TO wear out the patience OF
bearsh positions.
Covering OF short commitments was
undoubtedly factor in the strong turn Of
prices yesterday. but a variety OF stocks
acted very much as though they were
responding to buying for the long account
Foreign operations were still on the SELL
ing side. but the domestic professional ele-
ment was Inclined to act upon the i'm
plications Of strength which the list
clearly gave. The known facts about the
general trade and Industrial situation are
not conductive TO bullish efforts. but thes.
may be Offset by spring traditions and the
hopes that are entertained OF scasonable
Improvement in business affairs. Anal
gamated Copper. Reading. United States
NJ Fnf fk.. Lao
IN the day'e upturn but there were many
vigorous advances in n miscellaneous as
sortment VI railroad and Industrial shares
Even New Haven proceeded to rally
American Sugar Refining was a conspicu-
ousiy weak exception.
The circumstance was noted that re-
coveries We're made very easily on mod
crate purchases and good deal OF COM
ment was heard that likened the current
market TO the one which obtained in the
middle OF last December prior to the sha rp
general rise which shortly afterward got
under way. There IL nothing In sight
to encourage the view that January con-
ditions can be duplicated but certain sem
timental symptoms can be detected which
might Indicate the possibility OF "A partial
revival OF the active optimism which
was so pronounced two months ago.
The days news was OF uncertain tenor
There was nothing in foreign adyices cal
tulateu 10 INSPIRE STOCK market eNOrt AL
though hints have come from abroad
lately that Europe might he induced to
take more interest IN the constructive
chances OF Wall Street than II had SO far
displayed. The Mexican mess did not look
any better either In the foreign or domes-
tic view. The resignation of Prof. Moore
from the State Department could hardly
be counted az favorable event under
the circumstances OF our more or less
critical foreign relations. President Will
sons address TO Congress on the Panama
Canal tolls question was looked forward
to with much curiosity because Of the test
Of the political situation at Washington
which this issue affords.
The collapse Of the United States Steel
rebate inquiry was OF no consequence
because no Importance had been attached
to Il except as d demonstration of Con-
gress!onal folly. Weekly reviews Of the
iron and steel trade made q satisfactory
report on February results 1t Is con-
ceded that new business Is far from being
as brisk as II was three or four weeks
ago. although 1t Is expected that a spring
buying movement will not be long de-
layed. Meanwhile. according TO the Iron
A ye. the daily production OF pig iron last
month was about $500 tons above mo
daily output in January. Steel produc-
ton averaged an increase OF almost 1000
tons day.
Foreign exchange was Arm. around
4s595 for demand sterling. TIE do
nestle money market was noteworthy.
chiefly for tho hardening tokens discerni-
BILE In commercial paper. II was reported
that arrangements had been effected by
the Chesapeake and Ohio TO sell &33. 0o0.-
600 OF Ave year per cent. notes nj %
and that the offering had been underwrit-
ten by bankers. All but about $4,000, 600
Of the issue will 20 to retire the three
year notes due next June.