The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-02-26
FINANCIAL NEWS
AND COMMENT
stock Market Makes n Little
Further Rally on short
Covering.
ANACONDA NOTES SOLD

Union Pacific provided leadership FOR
a moderate continuation yesterday ot
the r~allying movement which developed
in the stock market on Wednesday. A
variety OF specialties displayed some
what active strength and furnished
other points OF support. Dealings as a
whole contracted about p third in com
parison with recent volumes or trad
ing. but quoted values both for stocks
and bonds manifested a fair degree
of frinness.
1t was not apparent that any other
than technical reasons existed for the
relative hardness of the list. and short
covering. which was not at any time
urgent, seemed 20 account for the bulk
OF the purchases. There were some
dealings in New Haven and Baltimore
and ohio above their new minimum
prices which presumably represented
the retirement OF bearish commitments
There was nothing in the days news
10 supply any tendency to tho market.
The most important thing on which at
tention is fastened at the moment Is
the new phase of negotiations over ths
treatment of ncutral shipping in the
so-called war zone. nut wall street
has little nope of any modification OF
the warfare which is being waged.. Al
the same time the situation made II
possible for the Stock Exchange 10
| pause temporarily to take now bearings
and see IL there was any SUFFICIENT
change TO warrant a fresh direction or
speculative or investment activity. Inc
chances are that II will take very SUD
/ stantially good newe from the seat or
war TO AFFECT values favorably to any
pronounced extent.
Af,er the first hour the stock mar
ket was rather dull. II held fairly
we'll until toward the close. when prices
saCged all around, although final hsures
showed a slight average or gain TOT 'n'
day.
Foreign exchange ~nuctuated less &C.
c.ntrIcallv. sterling bills were COM
paratively steady. but continental remit
tance remained weak. Talk about ar
engagements TO extend credit abroad was
plentiful and plausible. but no conclu-
sions were announced. Advices from
| London indicated tho probability OF a
further modest release OF gold at pt-
tawa for shipment to this city. ana the
arrival at San Francisco of 81 100000
Of gold from the Far East was reported
Cotton was firm, but tho grain market
was weak. ,
Jus, why there should be 40 much
shifting about Of properties and obi
cations between the Anaconda anC
Amalramatcd Copper companies wa'
not explained, but the Anaconda issue
of 5000, 900 Of two year 5 per cent
notes was promptly sold at ?9ss. Tn
proclamation Of an official advance %
III. price OF copper metal to Is cents
did not produce any real conviction
that the copper market had suddenly
turned strong again.
one OF the minor influences for what
ever better feeling the stock market re
Elected was the indication at Albany tina
the Legislature would repeal the ful
crew law. Any token OF square treat
ment OF corporations at the hands o
politics Ia nowadays very gratefully re
ccivcd. However. the limitations fror
Washington that theA Administration doc
not regard the shipping hill as dea
were a commentary on the persistence q
policies which antagonize bushes
opinion.
An exceptional exhibit OF earnings wa
again made by the Atchison Railroad |
o~ntlnua;i uf the remarkable series o
good reports which the road has bee
p%ublishinC in recent months. Its JAM
AIRY gross revenues increased s2sl,oO
and tho net increase was s25l 600.
Attention was attracted TO the Ban
!. or England's weekly return, whic
!, showed a general impairment OF pos
/. ton. Not a little curiosity Was man
> tested in the growing loss of gold hold
> ngs As compared with the maximum
: last autumn, but the showing of greate
. Strength in sterling exchange than
. other forms OF foreign remittance ind
: Gates that British finance is not fcelin
the strain of war as much as finance o
the Continent.