The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-04-02
FINANCIAL NEWS
And COMMENT
Stock Market Makes General
Display Of Firmness--
Vitality Displayed.
BREAK IN ROCK ISLAND

Selling was better resisted by tho
stock market yesterday than on wednes-
day when a reactionary turn was given
to prices. Dealings. while not up TO the
maximum Of recent activity. were still
in relatively large volume and the mar
ket had a somewhat two sided charac-
ter. but closed with an average Of gain.
Rock Islands extensive decline was a
prominent feature OF the trading. very
much TO the satisfaction Of those OBJ
servers who had regarded its violent ad-
vance earlier in tho week as the most
detrimental influence with which the
market had had to contend. No ex-
PLANTATION Of the Rock Island episode
was forthcoming. but In the light Of
events inference was drawn that some
largo interest which had suffered in the
I'll fated Rock Island company had made
hasty and clumsy accumulation Of ex-
tensive holdings In the railroad in order
to insure an ultimate recovery Of losses.
This buying attracted . miscellaneous
speculative absorption, the consequences
ing which went on yesterday.
The share list as a whole was tenn
porarly unsettled by the Rock Island
disturbance, but In the afternoon the
market generally displayed pronounced
steadiness. while throughout tho day
many issues exhibited striking Hrmness
under pressure American Sugar REIN
ing. the Fries, the marlborough Metro
politan stocks and Studebaker were
among the descriptions which demon
strated aggressive strength. and the tone
OF the whole market was not such as to
lend encouragement to traders who took
a bearish position.
There was a good deal OF hasty specu.
lative liquidation in the forenoon be
cause OF the stock market exchange re-
cess to-day and the supposition thai
Saturday. tomorrow. would be almost
a dies non in the stock market calendar
This meant rather protracted period
over which to carry long contracts, and
| the professional element was inclined
to work for lower prices because OF the
realizing which was going on and be
cause Of the notion that the spring ris,
| had exhausted itself
As to that there is no evidence OF IN,
end Of the better movement OF quoted
values The market has displayed
astonishing vitality in the face OF tn,
large uncertainties of the situation an,
despite the speculative excuses which
I have been committed The technica
position in the broader sense is prac
tcally one of unchanged strength. talk
ing into consideration the modest ay
gregate OF commitments I'm brokeray,
houses and the tremendous ease OF tn,
| money market
| In addition to that the construc.iy,
factors. which are more apparent /,
fundamental conditions, are not losIns
but are gaining force. Allowing for IN,
| contingencies of accident which ar,
latent In the times. the momentum an,
breadth which the upward movement o
quoted values has acquired tend :,
argue for its persistence. subject I,
! checks and setbacks and with ever,
likelihood that further support will b
provided by evidence OF a turn for tn
better in general business
Nothing but constructive argument
were based on the abolition OF min,
mum prices and other artificial restric
tons on the freedom OF the securitie
! market AOppoyal not dicsa,, ,,.a. 4,