The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-12-30
FINANCIAL NEWS
AND COMMENT
Another Extremely Dull Session
in the Stock Market
Here.
POOR RAILROAD REPORTS

Stagnatlon quite as complete as the
abysmal dulness OF last Saturdays ses.
sion characterized the stock market yes
terday. Indeed trading was on about
the same scale MS on Saturday. The move
mont OF prices was lnoonseoucntial for the
most part. averaging perhaps a trif'e
downward at the close. Dealings in bonds
fell away also. In the main the bond and
share list was relatively firm. although
there were some conspicuous features OF
weakness. such "a the Missouri. Kansas
and Texas stocks and the Rock Island
per cent. collateral and per cent deben-
turc bonds.
Explanations for the decline IN these
issues were not forthcoming. II was an
nounccd that the s2,j0O 900 OF Chicago,
Rock Island and Pacific c per cent notes
due on December 81 had been extended
for four months and the financial prob
lens of the Rock Island properties await
ing settlement next year came In for
some increased attention 1t would seem
that the small minority Of collateral trust
bpndhold,rs who recently stirred M
trouble will realize that Rick Island
affairs nave been very little settled with
the distribution of the underlying stock.
Some effort was made IN conjecture and
gossip to relate the relapse of the share
list into renewed apathy 20 the diplomatic
representations by Washington respecting
British interference with our commerce on
the seas No very obvious connection
could be traced. however. and II the Gov
ernments protest had any Significance
for values IL was favorable.
There Is no chance that 1: can mean a
disturbing controversy with Great Britain.
For some time past the British Govern
ment has been urged at home to recognize
the deslrability of exercising greater con-
sderation in lis attitude toward our trade
with neutral nations At the same time
il is equally unlikely that the Washing
ton protests will have much practical
effect an facilitating our eNpor, move
ment Its principal result will probably
he to lay tho foundation for claims Tor
damages after the war.
Not much notice was taken Of the Adj
mins;raton's indirect discJurs, utou; the
improving conditions OF general business
These outgivings are familiar and men OF
affairs do not need to consult political
oraCleS about tho trade, Industrial and
financial prospect. Al the moment the
ching which business desires most TO h', W
from the White House is the Executive
conceptions Of the Kind of men who
should constitute the new Federal Trade
Commission.
In the routine budget x news an in
tercs;ing item was the report tina, the
New York Central WAS making inquiries
for about $4,000 tens Of steel rails IN
addition TO the 21,Oo0 tons already or
dored this month and the 10. 000 tons con-
iracted for in August. The fresh block
ing OF the New York Central Lake Shore
iu-rser by i temporary wr!, was r"t
taken seriously In Wall Street Among
the important returns of railroad earn
lngs for November Was that Of the Cnl1 n
Pacific showing a gross decrease Of SH56,-
600 and a net decrease OF S2ll.oOQ y
Statement; which contyasted with the
A,chis,ns recent report Of gains IN both
categurios.
The most remarkah,a report was that
of the Canadian PdCinc with its Gccln.
OF sJ,3jo.000 In gross and its loss OF
s22ii.O00 in net. Canada has begun 10
suffer directly from tie war dram on
is population and It's business. but 20 is
undoubtedly hurt more by the shutting
of of capital supplies which London has
been furnishing IN great volume OF late
years for the development OF the Dou!u-
ions resources.
on this accouu, !: !s worth remarklng
the purchase made b. New York bankers
per cent. notes on about a J.A5 basis
Without taxing ourselves We can 60 "A long
way toward providing Canada win
funds to take the place OF provision from
Great Britain ard our business inter-
es's will ne advanced by supplying
hnancia. stimulus TO Canadian activities.
Without Quotab- changes IN rates the,
tone of the domestic money market was
weak. Foreign exchange rallied little
In the afternoon. nut sterling remittance
sold earlier az new low prices, falling he
low 4SI