The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-30
FINANCIAL NEWS
AND COMMENT
Dealings in Stocks Cover a
Broad Range, With In
creased Activity.
STRONG TONE DISPLAYED

one OF the most impressive features
of tho stock market yesterday was It's
breadth. Total dealings made a fur
ther Increase on the rising scale which
has been exhibited this week and approx
mated rather close to million shares,
but of more apparent Significance was
the fact that this volume of business
was better distributed throughout the
list than on most recent occasions of
activity combined with strength. The
diversihcation of trading interest shown
was construed as a token of sustained
public participation and was In keep
ing with the strong tone which char
acterized tho session.
Price movements we're not uniform,
but the irregularity did not present as
many symptoms Of heaviness nor give
as much Of q suggestion Of weakness as
on some OF the last few days. Heavy
selling was carried on in various al
rections, but confident absorption held
prices against any pronounced setback.
although In the late trading there were
numerous recessions from the best. The
last hour. however. was no such period
of sag and slip and slide as on several
days in the recent past The proper
tons OF the profit taking selling which
went on afforded leverage for bearish
operations, but the late afternoon mar
ket seemed to be simply natural Sc
quel to the earlier strength.
1ndustrials were again most in favor
but the railroad list displayed hrmness
with only "A few notable exceptions. chief
of which was New York Central, a
somewhat curious circumstance consid-
ering the success of the company's large
dehenture bond issue. For the most
part realizing sales accounted for the
moderate setback of prices In the last
hour and at that time some stocks, con.
spicuously Westinghouse. moved counter
to the rest OF the market and went tC
the highest prices OF the day.
United States steel developed a large
buying demand for both accounts and
its rising strength was a stimulating
influence all around. The stock seemed
to be in supply. however. on the ad
vance and there is no doubt that what
ever rising tendency II has Ia more OF
less offset at the present time by con
siderations connected with the pending
decision in the Governments sui
against the corporation.
Consolidated Gas sold OF on the new.
of the declaration OF the regular divi
dend OF one-quarter OF l per cent. extra
with an official hint that the extra dis
bursement might for long time e
come place the stock on an s per cent
basis. but the selling movement wa.
only characteristic Wall Stree
episode. The shares are not under tn,
new conditions worth less than the,
have been quoted at.
The action Of the Consolidated Gas di
rectors might be taken as an indica
ton of the constructive attitude which
Is coming 10 he adopted in financial cir
cles, and a similar token is afforded b,
the bringing out OF the Wabash reorgan
ization plan. The Wabash securitie
made a favorable response TO this an,
there is announcement for the view tina
other undertakings OF the same sort will
be launched under hopeful auspices
There was not very much news bear
ing on particular securities or on tn
general market outside OF matters noted
The Wall Street community in all Il
ramifcaiions seemed to be engaged II
rejecting the persistence CT the infu
ences which have been making for I'm
provement in values.
In the foreign exchange market ster
ling remittance showed more frmness
At any time now there may be an
nouncement Of the arrangement OF
large credit here for the London none
market. and the further deterioratlo
in the Bank Of England's position show
by the weekly statement pointed to tn
deslrability OF making an internat,ona
adjustment for the benefit OF the foreig
exchange situation.