The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-27
FINANCIAL NEWS
And COMMENT
Tendencies Toward Strength
i'm StOcks-MOre Ac-
tive Trading.
NEW SECURITIES SOLD

Indications before the holiday recess
That the stock market had been oversold
c~orroborated yesterday. Trans
we're on a rising scale OF activity
significance from the rising ten
dency of prices. This was most pro-
nounced in the industrial department,
where profit taking and bearish pressure
had been heaviest on account of the con
OF speculation In the industrial
quarter this year.
Short covering contributed largely to
the improvement of quoted values, but
this was In itself a sign of the position
of the market as demonstrated by the
tests to which 1t has been subjected this
month. All the familiar consideration
of recent dubious regard were urged on
attention. but the wal news hau one TO
have a less distressing aspect for the
Allies and NO far as the universities OF
domestic politics are concerned ii Is felt
that no important apprehension Is enter
tanned regarding the coming session OF
Congress to compare with the eXag-
gerated uneasiness which mas been specu-
~latively exploited in the last week or 50.
Several soft spots were developed In
the share list. There was obvious pres
sure on Baldwin Locomotive II Crucible
steel. although they yielded only stub
bornly. and theg roup of war stocks as 8
whole displayed a good deal oil
iirmness. Realising sales carried Mer-
camille Marine preferred lower and New
Haven continued "A decline which re-
uuired no explanation In View of the re-
uuirements OF the property for the en-
ployment of augmented earnings other
wise than In dividend disbursements.
Despite these features of the day thu
general tone of the market was ol
underlying tirmness expressed In numer'
Gus descriptions by substantial ad'
vance which were fairly we'll held. II
is 10 be noted. moreover. that If Ar
advancing trend Is maintained the eN'
pectation of intelligent observers is tina
the movement is unlikely 10 assemble
the excited swings of the market foi
the war stocks this year.
Rails were rather firm. although there
was some foreign selling IN the inter
national list. including United state
Steel. which also exhibited hrmness
The official that the Brit
ish Government is seeking TO impounC
American securities held 10y British sub
jpcts is taken, however. TO mean tina
luuiiation in the future Is likely 4
be controlled and that the object of tn
canvass is not for liquidttIng purpose
50 much as to provide collateral 70
the credits which our bankers Will b
more disposed to grant OF secured tina
on unseCur- d loans.
The v.tol, marke, receded somewha
in the last hour ON selling 10y traders
but quoted values IN tn. main conveye'
an impression of strength. So far "A
any particular group OF stocks WAS
/ f.ature, copper metal issues were con
spicuous for their upward tendency.
An argument of constructive ;IVli
cation was Enthusiastically furnished Il.
tn. appearance Of new railroad financing
This II proof Of the optimistic conf
/ dcicc of bankers and corporate man
agemeuts and is the direct result OF IN
great strength whici the iuv.stmet
market has been displaying. the ex
trAordinary east. OF the money marke
sIgnallized by q continuation of tn
ch]eapeuing process yesterday and Of III
widespread general business bettermer
which Is making record breaking rail
road earnings.
Two more reports for October pub
lished yesterday snow that the Ne'
is participating with tho East In I'll
. trade and industrial recovery. tnio
pacifiC's gross revenues Increased 81
o%74,u0o, all representing a gain
freight reoaipts. and net increased SIN3
0oO. The gross and net Increases ~ III
Atchisor were 100000 and almo'
%slu0.oO the Atchison II will he r.
m@efLberrd. having been one Of the fe
roads last year which did not suft
from a material contraction OF carr
incS.
,rua A,,hisnu is one Of -ha hrst Z