The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-03-07
FINANCIAL NEWS
AND COM MENT
Only Slight Setback i'm the
Stock Market ndpr-
tone Firm.
WEEK or IMPROVEMENT

There was no news overnight or dur
ing the wall street session to stimulate
a fresh display Of aggressive strength In
the stock market. on the contrary. he
burning OF the steamship Touraine.
whether or not 1t had any connection
with the war, was at least a little dis
turbing, and the discovery that there
was no direct mail or passenger steam
ship scheduled Tor sailing to Great
Britain next week. was = reminder o'
the Interference with ordinary COM
nunlcations which the war is causing.
The Increasing anarchy OF MeNicsn con-
ditions was added 20 tho list OF uufsvor-
able factors wish which values have TO
contend. Nevertheless the share list and
the bono department CAV an excellent
account of themselves.
Trading wa. on a lNtle quleter scale
than on Friday, and naturally there was
a trading disposition TO take profits
Sellers had an excellent market for their
offerings and pressure was not pro-
nounced, although the market had made
such a strong upturn during the week
that week end transactions would natu-
rally incline to The selling side. Prices
as a whole receded a li;tle from Fri
day's level, but the setback was very
sl!eht and the undertone was one OF dis
tinct firmness. There was not much
feature in the dealings save a further
advance in marlborough Metropolitan
preferred.
Wheat and cotton were both strong
Tho bank statement showed a loan IN
crease OF s32, 900. 600. and tho progress
sivS expansion of the loan account can
only be interpreted as denotins a favor
able and optimistic continuation OF tnan-
clal activities.
During the week wall Street re-
srondcd TO customary spring impulses
IL began to reckon on The reasonable
probability OF a s~easonablc Improvement
in general business over winter condt-
tons and found II more dflcult to ac-
cumulate stocks than TO dispose OF them.
A striking and gratifying feature OF the
securities market was the rising move
ment in high grade bonds against for
eign selling.
The way in which stocks like Ralti-
moro & Ohio. New Haven and Southern
Railway preferred, following the example
Of United States steel. rose from their
minimum prices was uumistakahle evil
dence OF scarcity and suggested that
hearish selling n the general list had
heen out of proportion TO real liauida-
ton. As a result of the trading of the
week the average OF quoted values wac
carried to a point which measured a
recovery OF fully half the February de-
cline from the January rIss
The adjournment Of Congress fur
nlshed a reason for The stock market
expression OF some RELIEF from political
strain even though /; is recognized tina
the work OF the SiXty-thiyd Congress
remains To- handicap business recov-
cry. The cdll Of wheat prices. which
were carried Town to a level more than
30 cents a bushel below the top of the
season, was a constructive Influence and
'eports from tn. winter wheat area
Indicate that the crop has been coming
through the winter in excellent shape
The opening Of the Western railroad
rate hearing offered another prospect OF
optimistic possibilities sqd the aspects
Of the money market. particularly In
the foreign exchanges. encouraged con-
structlve stock market attitudes.
Receipt OF some gold from Copen'
hagen, conjecturally for German ac.
count. was another Indication that ths
metal tends to come here from 81
over the world because Of our strong
International position md there were
manifest signs that before long Ameri-
can finance would he hHsily engaged IN
placing loans sad providing credits 70.
many countries.
So far as the war is concerned IN,
banking and business community was
disposed in the course of the week :,
take a more composed view ~ the scope
Of the new tangled maritime warfare
across the Atlantic and the operations IL
tho Dardinelies lent themselves 10 Verl
encouraging deductions about the prog
ress OF military events Indeed the ~.
tack on the pa dau-llrs WAS iustru,
mental in promoting premature tall
about an early peace